Abstract
In the next few decades, the oil and gas industry will become both major users and suppliers of carbon credits. Today’s carbon markets, though, are plagued by high costs and quality concerns, which have led to low prices and even outright failure of some carbon markets. Blockchain technologies could be used to solve these problems, through digital Measurement, Reporting, and Verification (MRV), tokenization, detecting double counting, and ultimately concerns about their legitimacy. These measures could help carbon credits live up to their potential and meet the needs of the industry.
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Chen, S. (2023). Carbon Credit Markets. In: Sustainable Oil and Gas Using Blockchain. Lecture Notes in Energy, vol 98. Springer, Cham. https://doi.org/10.1007/978-3-031-30697-6_10
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