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🗞️ Driving the news: Hania Othman, Director of Sustainable Impact Europe/Africa at The HBAR Foundation, suggests distributed ledger technology (DLT) could play a critical role in meeting global carbon emissions reduction targets
• This technology promises to improve transparency, accountability, and efficiency in emissions reporting and verification, potentially propelling us toward achieving the goals of the 2015 Paris Agreement
🔭 The context: Amidst inadequate current emission reduction efforts, the European Union and global initiatives like the COP28 conference emphasize ambitious carbon neutrality targets.
• These efforts highlight the need for innovative approaches to ensure fair and effective climate action, with DLT offering a solution to overcome challenges in climate reporting and carbon credit verification.
🌍 Why it matters for the planet: DLT has the potential to address key issues hindering climate action progress, such as the lack of detailed data and non-transparency in climate reporting.
• By facilitating a public ledger for emission data and improving the credibility of carbon credit schemes, DLT can significantly impact the integrity and efficiency of global efforts to mitigate climate change.
⏭️ What's next: The adoption of DLT and Web3 technologies could revolutionize how governments, companies, and individuals track and reduce carbon emissions. By enhancing the transparency and traceability of carbon credits and reducing supply chain inefficiencies, these technologies support the transition to a sustainable future and help fulfill global climate commitments.
💬 One quote: "By leveraging DLT, governments, companies, and individuals can record and verify emissions data in an open and immutable manner," says Hania Othman.
📈 One stat: No specific stats provided.
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