Sipthorpe et al. (2022): Blockchain solutions for carbon markets are nearing maturity

Adam Sipthorpe, Sabine Brink, Tyler Van Leeuwen, Iain Staffell IN: One Earth 5 (7), p.779-791,

Carbon markets are rapidly spreading across the globe, and where compliance schemes are missing, the voluntary carbon market can step in. These markets put a price on carbon and enable a liquid market—a free market with low transaction costs and high flexibility—to avoid, reduce, or remove carbon from the atmosphere. (…) The underlying technology behind cryptocurrencies, the blockchain, is often touted as a way to overcome those criticisms, but the extent to which they can exert a significant impact remains unclear. An overview of blockchain-powered carbon-market projects from 39 organizations shows that there are now technologically ready solutions, such as the Toucan Protocol or the work of the Energy Web Foundation, which can indeed improve carbon offset tracking and trading along supply chains.