Impact of blockchain initiatives have been questioned by new research from Carbonplan, a non-profit climate research organisation.
It finds that over a quarter of carbon credits ‘bridged’ onto blockchains through the Toucan bridge originate from inactive, ‘zombie’ projects. Initiatives, such as Klima DAO, have provided economic incentives to revive these projects. Carbonplan highlights this as a concern as the history of these projects suggests failure to find buyers in the VCM despite surging demand.
In an attempt to bring guidance to the space, IETA’s (International Emissions Trading Association) Council Task Group presented its key findings and recommendations from a review of digitalisation in climate markets.
