The World Bank affiliate launched the Carbon Opportunities Fund to provide emissions offsets through the blockchain.
Only 10% of carbon credit projects currently meet the fund’s criteria.
A blockchain platform dedicated to the trading of carbon offsets will be able to attract a greater number of institutional investors to boost green projects in emerging markets, the International Finance Corp (IFC) told Reuters.
The organization, which is affiliated with the World Bank, was created in 1956. It is promoting blockchain because it believes that this technology will be able to better promote the use of carbon offsets to mitigate climate change than the traditional methods used.
The blockchain is a shared ledger or decentralized digital database, which facilitates the recording of transactions and serves to track and trade any asset on the network.
Companies use the credits to offset the emissions they generate or the carbon footprint accounted for. The level of greenhouse gases (GHG)...
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