Climate change is already affecting the entire world, with extreme weather conditions such as drought, heat waves, heavy rain, floods and landslides becoming more frequent, including in Europe. Other consequences of the rapidly changing climate include rising sea levels, ocean acidification and loss of biodiversity.
In order to limit global warming to 1.5 degrees Celsius – a threshold the Intergovernmental Panel for Climate Change (IPCC) suggests is safe – carbon neutrality by mid-21st century is essential. This target is also laid down in the Paris agreement signed by 195 countries, including the EU.
What is carbon neutrality?
Carbon neutrality means having a balance between emitting carbon and absorbing carbon from the atmosphere in carbon sinks. Removing carbon oxide from the atmosphere and then storing it is known as carbon sequestration. In order to achieve net zero emissions, all worldwide greenhouse gas (GHG) emissions will have to be counterbalanced by carbon sequestration.
Carbon sink is any system that absorbs more carbon than it emits. The main natural carbon sinks are soil, forests and oceans. According to estimates, natural sinks remove between 9.5 and 11 Gt of CO2 per year. Annual global CO2 emissions reached 38.0 Gt in 2019.
To date, no artificial carbon sinks are able to remove carbon from the atmosphere on the necessary scale to fight global warming.
The carbon stored in natural sinks such as forests is released into the atmosphere through forest fires, changes in land use or logging. This is why it is essential to reduce carbon emissions in order to reach climate neutrality.
Blockchain can help with carbon neutrality
All the good that blockchain can do, the general public or the world at large isn't fully aware. So, it's indeed a priority for us to start translating what the technology does for everyone and do it in a way that people can understand.
In 2021, blockchain, DeFi, NFT, and Metaverse have become popular all over the world. We hope that by adopting a green mining method in the blockchain, more users will not only benefit from it, but also pay attention to it. It is necessary to protect the global environment and jointly promote the process of carbon neutrality.
Introducing ETH-GreenMining
The problems of climate change are daunting and diverse. Who's going to solve them?
Achieving a just carbon neutrality is an important issue that requires decisive action by all parties, and the participation of blockchain is also crucial. ETH-GreenMining is mainly engaged in investment in forestry and new energy industries. With the support of ETH-GREEN MINING FOUNDATION, ETH-GreenMining has made a lot of progress in the climate change. For many years, it has been committed to solving global warming and environmental protection issues, and has made due responsibilities to achieve the goal of carbon neutrality.
We can solve the problem of information opacity
Many companies are unwilling to disclose information such as carbon emissions, total carbon allowances, allowance schemes, and transaction data. There is asymmetric information among trading entities, and information in the carbon trading market is not transparent.
We can solve the problem of uncertain pricing
The opaque carbon trading market information makes it impossible for both parties to determine fair and reasonable market pricing, which greatly increases transaction costs and reduces transaction efficiency.
We can solve the problem of low market participation
The carbon trading market lacks liquidity, the market develops slowly, and the market participation of trading entities is low.
Why blockchain
ETH-GreenMining is an on-chain carbon trading aggregator based on Ethereum as its core concept. It is committed to building a modular, universal, and highly flexible green mining framework for Ethereum.
- It has the characteristics of decentralization, non-tampering, traceability, collective maintenance, openness and transparency
- It creates a safer, more efficient and more economical market environment for carbon trading
- It creates a more visible, credible and reliable regulatory environment for carbon trading
Blockchain is not the only solution, but it is a very excellent technology to help climate change. When we come together, we create game-changing solutions to carbon neutrality. We educate, elevate, and lead. Because we are ETH-GreenMining, we are where breakthroughs begin.
Contact:
ETH-GreenMining
www.eth-greenmining.com
support@eth-greenmining.com
Source: Prodigy.press
Release ID: 87497
Original Source of the original story >> ETH-GreenMining: Green Chain, Green Life and Green Future
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