Carbon emissions - the main factor driving climate change - come from human activities such as industrial burning organic materials like coal, oil, gas, wood, and solid waste, agricultural activities such as deforestation, as well as simple consumption. At its worst in 2019, human activities were responsible for the emission of 43 billion tonnes of CO2, an all-time high breaking the previous record of 2018. Shockingly, despite the good intentions set out in the 2015 Paris Agreement, global carbon emissions have been rising since 2016 (following a momentary dip between 2014 and 2016). The Paris Agreement set out to keep global temperatures within an increase limit of 2 degrees celsius (ideally no more than 1.5 degrees celsius), but with the current policies in place we are headed towards a 3.7 degree celsius increase by 2100. According to the UN Environment Programme, we must reduce current CO2 emissions by 25% before 2030 if we are to achieve the 1.5 degree limit. This mammoth task will of course require swift and drastic action across industries and geographies.
As we put more pressure on the international carbon markets as recommended under the Paris Agreement, there is an urgent need to apply innovations and technologies to carbon offsetting. Evidently, these technologies will enhance the general functioning of the carbon market and improve the transparency of Emission Trading Schemes.
While many believe that altering our consumption habits is needed to combat climate change, a significant incentivization mechanism is required for a global change in consumption to bring sustainable behavior. Hence, self-executing contracts powered by blockchain that pull real-world data will automate a rewarding system that directly and transparently reward everyone that protects our environment.
Pertinently for Carb0n.fi, the rise and increased weight of the crypto industry has recently been cited as an increasingly problematic emitter of carbon dioxide. As such, we are paving the way towards making a growing problem the possible solution in helping to reduce global carbon emissions. Our ambitions are to not only transform the negative image and reputation, but but also to pave the way towards a fully carbon-neutral industry. We are calling on companies, investors and individuals to join our movement and step up towards becoming the solution to the long-term damage caused by human-induced global warming. Let us all invest intelligently, with sustainability front and centre.