Abstract
The next gold rush is on. Fueled by government mandates and net zero commitments, the oil and gas industry is ramping up production of low carbon fuels. Further out, massive investments in hydrogen are planned. To reach their full potential, these new fuels would need to prove their reduced emissions and environmental benefits. This could potentially transform the energy industry from one based on physical commodities to one driven by data and digital certificates. Blockchain technologies could play a vital role in this transformation, offering proof of provenance, true lifecycle carbon accounting, and trading of low-carbon premiums, while preventing double counting of climate claims.
Keywords
- Alternative fuels
- Biofuels
- Sustainable aviation fuels
- Blue green renewable hydrogen
- Book and claim trading
- Blockchain
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- 1.
See https://lexparency.org/eu/32018L2001/ANX_IX/ for approved biofuel feedstocks in the EU.
- 2.
See our chapter on Carbon Markets for more details.
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Chen, S. (2023). Sustainable Aviation and Transportation Fuels. 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_8
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