Publicly-traded holding company CYIOS Corp has launched CarbonCred.io, a subscription-based carbon offset marketplace which enables businesses and individuals to offset their carbon footprint and support carbon neutrality projects. CarbonCred.io has initially launched with two Verra Verified Carbon Standard-approved carbon offset projects: the Verra Rimba Raya Biodiversity Reserve Project and the Verra Solar Energy Project in India. Carbon credits, known as Verified Carbon Units, are issued to offset projects. Each unit represents one tonne of CO2 equivalent. The carbon offset market is an emerging market opportunity, with demand for carbon credits set to increase up to 15-fold by 2030 and up to 100-fold by 2050, according to the Taskforce on Scaling Voluntary Carbon Markets. The carbon credit market is predicted to be worth over $50bn by 2030 and many countries have set global emission reduction targets. The company is also developing a proprietary carbon-credit NFT marketplace, leveraging its Randombly NFT platform.
It is important that carbon credit schemes also benefit local communities.
The World Meteorological Organisation has stated that 193 countries have given unanimous backing to a scheme to monitor global greenhouse...