In a bid to enhance the growth of the European Union carbon credit market, Carbon Credit Technology (CCT) has reopened access to the market. As part of its commitment to the sector, Carbon Credit Technology, a blockchain-oriented climate tech company is now providing access to the European Union carbon credit market.
Before now, the market was closed off. But numerous efforts from Carbon Credit Technology now give investors access to the European Union carbon credit market. Some of these efforts include the listing of the firm’s governance token CCT on BitMart exchange in March. It also includes the MEXC Global cryptocurrency exchange in June.
Currently, Carbon Credit Technology is willing to throw its weight to contribute to the fast-rising prominence of the industry. In particular, the European Union Emission Trading System (ETS) has been integral to the overall growth of the sector. In 2021, the carbon market enjoyed outstanding growth. That year, the market valuation grew to a whopping $851 billion, while the EU’s ETS contributed about $769 billion to the growth.
Notable Side notes about Carbon Credit Technology
Due to the heavy regulations hanging over the market, it’s difficult for investors to obtain and maintain the EU ETS. Notably, the history of the market can be traced back to the implementation of regulatory frameworks by the 1997 Kyoto protocol for the reduction of greenhouse gas emissions. The implementation led to the birth of regulated carbon credit markets that aid firms, organizations, countries, and individuals to offset their greenhouse gas emissions. Consequently earning them credits to invest in green projects.
As an innovative stakeholder in the market, CCT utilizes the blockchain to make available an action-based solution. The solution helps to aid the realization of the net-zero carbon emissions goals by 2050. The embracement of blockchain by CCT makes it outstanding among its peers. Therefore, establishing its presence as a force to reckon with within and outside the industry. As it stands, CCT seeks to emerge at the center stage of the fast-growing industry.
Presence on Algorand and relevance of the CCT token
In a bid to consolidate its prominent stature in the market, CCT joined the World Economic Forum’s Crypto Sustainability Coalition. The firm acquires a real carbon credit certificate and then tokenizes it into cheap CCT coins through the Algorand blockchain. Worth noting, that the CCT is hosted by Algorand due to the blockchain’s eco-friendly nature. Deploying the CCT token on Algorand compliments the company’s effort to achieve net-zero carbon emissions.
The relevance of Carbon Credit Technology
Carbon Credit Technology’s relevance in the market emanated through the approval of its governance token by the European Union Allowance (EUA). Currently, the CCT token remains the only cryptocurrency asset backed by the EUA. The distribution of the token appears specifically designed. Each CCT represents a kilogram of Carbon emissions.
Further, CCT tokens minted at the inception of the project became distributed based on predetermined schedules. The tokens provide investors of different portfolio sizes the opportunity to access the EU ETS market. Meanwhile, the CCT token recorded a good market performance about four months ago. Despite the prevailing downturn in the crypto market, the token rose to $16. While the cryptocurrency market has caused the token to drop, yet it still projects an outstanding Return On Investment of 885.86%.
As investors purchase the CCT token, they possess a direct influence on the way some of the largest gas-emitting firms run their industrial activity. As the price of Carbon Allowances appreciates, Carbon Emitting firms get incentives that helps to provide financial support for them to purchase energy from climate-friendly sources. Beyond doubt, CCT is changing the narrative of how investors can explore the carbon markets. Practically, CCT is simplifying the process of combating climate change by involving more people seamlessly.
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