Carbon Credit Project Development
It is critical to cut emissions and decarbonize economies, and time is running out. This is where carbon credits come into play. Permits that allow the owner to emit a specific amount of carbon dioxide or other greenhouse gases are known as carbon credits, commonly referred to as carbon offsets. One credit allows for the emission of one tonne of carbon dioxide or another greenhouse gas' equivalent. Companies who pollute are given credits that allow them to do so up to a limit that is periodically decreased. In the interim, the business may sell any credits it doesn't require to another business that does. Thus, private businesses have two incentives to lower greenhouse gas emissions. If their emissions exceed the cap, they must first pay extra for credits. Second, by cutting their emissions and reselling their extra allowances, they can generate income. The carbon credit system's proponents assert that it causes certified climate action initiatives to decrease, remove, or avoid greenhouse gas (GHG) emissions in a way that is measured and verifiable.
Although the demand for carbon credits has increased significantly, industry analysis shows that the 8 to 12 GtCO2 per year of possible yearly supply of carbon credits might meet the demand in 2030. These carbon credits would come from four different sources: preventing nature loss (including deforestation), sequestering carbon through natural processes like reforestation, avoiding or reducing emissions from sources like landfill methane, and removing carbon dioxide from the atmosphere using technological means.
We also plan to explore the major potential sources of carbon credits in India which includes renewable energy, waste processing, agriculture and afforestion. The carbon credits generated through renewable sources like solar and wind energy are processed for energy efficiency to decarbonize industrial processes and fossil fuels. All of this aids companies in reducing emissions and adhering to international requirements. Aside from this, the agricultural industry has enormous potential. A farmer can use carbon credits in agriculture in a variety of ways. It's becoming obvious why the transition to carbon farming is the future of agriculture given upcoming legislation and rising business desire to buy carbon credits from farmers.
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OffsetGo offers Tech-based, Nature-based and Market-based solutions for organizations to achieve their climate goals and create a meaningful impact on the planet
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