CarbonEco

Four times a year California and Québec auction emissions allowances to electrical distribution utilities, natural gas suppliers, refineries, hydrogen production facilities, universities, water treatment plants, dairies, and manufacturers of food, glass, paper, metals, cement, lime, clay, and gypsum. Each allowance is equivalent to one metric ton of carbon dioxide equivalent emissions. [1] The state uses a declining allocation per year. The program is facilitated by Western Climate Initiatives, Inc. and supported by an auction platform run by SRA International (now known as the defense contractor General Dynamics IT). [2]Recent auctions in 2021 and 2022 included between 86 and 127 participants. The government sold an average of 62 millions tons of CO2 greenhouse gas emissions. The median price of these emissions has increased in this period from $18 per ton to a high of $38 per ton. The cost of the program has also been increasing. In 2017, the administrative effort cost $4.7 million. In 2023 it is projected to be $11 million. [2] This is the equivalent of slightly more than $0.04 per ton sold.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/e9905904381649af9407b728883078be.jpg" />The California/Québec program is novel and ground-breaking for a regulated carbon market. Since 2012 the program has generated more than $34 billion of proceeds for investor-owned utilities, public utilities, and the state. [3] These proceeds have gone to $11 billion dollars of greenhouse gas reducing projects sized at 78 million metric tons, i.e., $141/metric ton. That statistic underscores why the scientific community and programs like the direct air capture tax credit in the Inflation Reduction Act are recommending higher prices on carbon dioxide emissions.<a href="https://carboneco.trade/buy" rel="noopener noreferrer nofollow">CarbonEco.trade</a> shares some of the features of the California program, but implements the concepts differently. Rather than put a price on emissions, CarbonEco puts a price on carbon dioxide-avoiding and -absorbing assets and habits. With CarbonEco, you are not giving someone the right to emit. Instead, you are paying them for positive actions they are taking. Sample habits and assets include: eating vegan for a month, installing LED light bulbs, using a refillable water bottle, commuting to work by bus or electric vehicle, sustaining a tree or pasture for another month, and converting vegetative waste into biochar.CarbonEco also sets a price on these acts. Rather than use an order book, CarbonEco adopted science-based targets on a fixed price schedule. The price started in 2021 at $50 per ton and increases each month. The intent is to accelerate a meaningful price on carbon dioxide and to offer a greater incentive absorption and avoidance.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/63212555b4f14437bd22ec3554f6b7d8.png" />Another difference is scope. California/Québec limit their allowances to the specific regulated organizations within their jurisdictions. To be a buyer, firms must also complete a series of applications to the government. A 48-page manual walks auction participants through the detailed requirements. [5] In contrast, CarbonEco is available globally and the barriers to entry are reduced to having an Ethereum wallet and an internet connection.<react-video url="https://www.youtube.com/watch?v&#61;SGf7xAuUSgY"></react-video>Sellers on CarbonEco are offering short-lived or one-time habits and assets. This helps overcome a concern many have about the durability of carbon offsets. For example, rather than worry whether a forest will be there for the next decade to support forward carbon streams, CarbonEco requires offsets be current, i.e., show proof of the electric vehicle miles driven in the last month.Because CarbonEco has leveraged the distributed infrastructure of the Ethereum blockchain, it has also been able to keep administrative costs below $1 million. In fact, CarbonEco is non-custodial. This means that when each ton of carbon offsets are transacted, the payment goes immediately and directly to the sellers and verifiers. This is another difference with the California program. It also has administrative expenses in how the funding is allocated. Of $19 billion raised, $14 billion was awarded and $11 billion implemented. This also necessitated $156 million in intermediary administrative expenses.CarbonEco also offers something California has not figured out yet — the ability to create a private market on the same platform. With its #Offset <a href="https://carboneco.trade/programs/#brands" rel="noopener noreferrer nofollow">program</a>, CarbonEco allows anyone who represents a brand, community, non-profit, or other organization to create a private label version of CarbonEco for their loyal fans and members. The offsets go through the same verification process and are reserved for the brand/organization to purchase.CarbonEco.trade and the California/Québec Emissions Trading Scheme are novel programs trying to use market forces to incentivize climate action. CarbonEco leverages distributed computing via blockchain technology to provided a global peer-to-peer market for individuals and organizations to incentivize carbon dioxide-avoiding and -absorbing habits and assets.Are you carbon neutral this year? You can #offset2022 at <a href="https://CarbonEco.trade/buy" rel="noopener noreferrer nofollow">https://CarbonEco.trade/buy</a>Want to become an affiliate of CarbonEco? Learn more <a href="https://carboneco.trade/programs/#affiliates" rel="noopener noreferrer nofollow">here</a>.CarbonEco.trade also has an ERC-20 token. It trades in low volumes, but has the features you expect. This graphic explains the token&#39;s utility.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/335e202d57634c0ca8b03ce27b8ef628.png" />Sources:[1] <a href="https://ww2.arb.ca.gov/our-work/programs/cap-and-trade-program/allowance-allocation" rel="noopener noreferrer nofollow">https://ww2.arb.ca.gov/our-work/programs/cap-and-trade-program/allowance-allocation</a>[2] <a href="https://wcitestbucket.s3.us-east-2.amazonaws.com/amazon-s3-bucket/documents/budget-2022andexpenses2023-20211026-en-1635540825.pdf" rel="noopener noreferrer nofollow">https://wcitestbucket.s3.us-east-2.amazonaws.com/amazon-s3-bucket/documents/budget-2022andexpenses2023-20211026-en-1635540825.pdf</a>[3] <a href="https://ww2.arb.ca.gov/sites/default/files/2020-09/proceeds_summary.pdf" rel="noopener noreferrer nofollow">https://ww2.arb.ca.gov/sites/default/files/2020-09/proceeds_summary.pdf</a>[4] <a href="https://ww2.arb.ca.gov/sites/default/files/auction-proceeds/cci_2022_mydu_cumulativeoutcomes.pdf" rel="noopener noreferrer nofollow">https://ww2.arb.ca.gov/sites/default/files/auction-proceeds/cci_2022_mydu_cumulativeoutcomes.pdf</a>[5] <a href="https://ww2.arb.ca.gov/sites/default/files/cap-and-trade/auction/auction_requirements.pdf" rel="noopener noreferrer nofollow">https://ww2.arb.ca.gov/sites/default/files/cap-and-trade/auction/auction_requirements.pdf</a>

How CarbonEco is different from the California Emissions Trading Scheme

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