Carbon credits are certificates that allow individuals or organizations with negative emissions or surplus greenhouse gas absorption/removal capacities to trade with those who have positive emissions and need to offset their output in order to achieve Carbon Neutrality. Each carbon credit is equivalent to 1 ton of CO2e (carbon dioxide equivalent).
Currently, there are two main types of carbon markets globally:
Compliance carbon market: This market involves the buying and selling of carbon based on countries' commitments under the United Nations Framework Convention on Climate Change (UNFCCC) to achieve greenhouse gas reduction targets. This market is primarily designated for projects within the Clean Development Mechanism (CDM), Sustainable Development Mechanism (SDM), or Joint Implementation (JI).
Voluntary carbon market: This market is based on cooperative agreements between organizations, companies, or nations. Buyers of credits engage in transactions voluntarily to comply with environmental, social, and corporate governance (ESG) policies aimed at reducing their carbon footprint.
With this information, MinMax Green hopes to provide valuable insights to businesses; we are committed to accompanying enterprises on the journey toward carbon neutrality and protecting the Earth's green environment.
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