However, relying on the legal system and governments is simply not enough — companies can also actively participate in reducing their carbon footprint and creating positive change for the environment.
According to NBC News, “A carbon credit is a kind of permit that represents one ton of carbon dioxide removed from the atmosphere.” Most corporations create carbon dioxide emissions as part of their operations.
Governments across the world have reached different levels of carbon emission regulations, and based on this, companies can generally engage in carbon credit trading from two perspectives: for compliance or voluntarily.
Partnering with an entity that has experience and can provide advice on how you can best use carbon credits for your business and environmental impact is a logical way to proceed.
The traditional way to measure carbon pools is by studying sample plots and extrapolating the measurements to cover the entire area.
The prototype model developed by Charoen Pokphand Group , of which my company is a subsidiary, aims to automate this process by comparing satellite imagery over time to measure the above-ground biomass of a forest area and calculate how much carbon emissions a forest area is able to capture from the atmosphere.
The incentive of carbon credit trading to serve the needs of corporations to offset their emissions could prevent more green spaces from being turned into concrete and could also lead to the planting of more trees.
Moreover, carbon credit trading would provide an additional path to income in the future, which could benefit many communities, including rural areas.