Climate change is one of the biggest challenges in today’s world. The rise in carbon emissions has caused alarm, with stakeholders globally joining forces to achieve a carbon-neutral world. According to a study by Crowther Labs, an increase in global temperatures by over 2°C could cause a drastic change in 520 major cities by 2050. Some cities like London are at risk of experiencing a major drought if the current carbon emissions trajectory is not kept in check.
As a result, there have been growing efforts to reduce carbon emissions, with popular policies like the U.Ks Clean Air Act coming into force back in 1952. This initiative was a result of the great smog that claimed about 4,000 lives. In the U.S., legislators passed the 1990 Oil Pollution Act, which requires oil tankers to install double hulls to reduce the risks associated with oil spillage.
While it has taken some time before the general public joined in reducing harmful emissions, the path towards a greener world is now a combined effort by everyone across the globe. Corporate entities are among the forefront stakeholders in forging the way towards a carbon-neutral world, with some creating environmentally friendly products.
On the other hand, sophisticated climate activists use emerging technologies like blockchain to achieve a similar goal. Let’s delve deeper into how all these stakeholders are changing the world to be a better place for future generations.
Path towards a greener world
By now, it is pretty evident that many stakeholders are involved in making the world a greener place. At the helm are the authorities, while private entities and the general public complement the efforts through sustainable solutions and initiatives.
The Paris Climate Accords, also known as the Paris Agreement, is one of the essential pillars in the efforts to reduce global greenhouse gas emissions. This initiative was adopted in 2015, with the primary goal of limiting temperature increase 2°C above the pre-industrial level. As it stands, 191 members of the U.N. Framework Convention on Climate Change (UNFCCC) are on board with the agreement.
Meanwhile, private corporations led by big players such as Ford Motors are also trying to achieve carbon-neutrality. The vehicle manufacturer has an environmental policy whose focus is to support sustainable environmental solutions. Besides building fuel-efficient cars, Ford Motors leverages sustainable fabric to build the interior of its vehicles.
Other prominent firms that have adopted green initiatives include Disney and Nike. The former has a zero-waste policy, while Nike uses renewable energy in its manufacturing processes. That said, technologies like blockchain are now taking carbon-neutral initiatives to a new level.
Emerging tech in carbon-neutral initiatives
As we ushered in the 21st century, technology marked a new beginning for the world. Innovations in the tech space have significantly evolved within the past two decades, featuring the likes of blockchain, IoT and virtual reality, amongst others. Blockchain, in particular, is a game-changer in the path towards a greener world: some upcoming projects in this niche are offering incentives to contribute towards carbon-neutral initiatives.
Popcorn Network is one of the blockchain-focused projects whose primary goal is to create a social impact through opportunities in the crypto ecosystem. This DeFi protocol creates an avenue for users to stake their crypto assets through its yield-generating products, allowing them to allocate the returns towards social initiatives that focus on achieving carbon neutrality.
Ideally, Popcorn Network operates as a decentralized ecosystem which means that users who hold its native token POP can vote on where to allocate the funds. In addition, social impact organizations in the environment industry can partner with Popcorn network to be eligible for funding.
🇧🇷 Bolsanaro is turning the rainforest into a land grab
🌳🏭 Accelerating deforestation, animal extinction, and increasing greenhouse gases
🧐 Unfortunately, nuanced economic conditions result in poor policy, and ultimately #ClimateCrisis
Solutions are coming… pic.twitter.com/0Neu4fgxih
— VaultCraft (@VaultCraft_io) August 2, 2021
The project has the support of prominent crypto personalities, including Vitalik, SBF and Haseeb from Dragonfly. With social impact at the core of Popcorn Network’s smart contract architecture, stakeholders are optimistic about making an impact through effective altruism.
The future is carbon-neutral
For the human race to continue thriving, achieving carbon-neutrality is not an option but a necessity. It comes as no surprise that over 110 jurisdictions have committed to achieving net-zero emissions by 2050, with notable regions such as the European region leading the pack.
Marking the fifth anniversary of the Paris Agreement, U.N. Secretary‑General António Guterres asked various stakeholders to facilitate this shift,
I ask all financial authorities, including central banks and financial regulators, to incorporate climate risk in your functions, and make climate-related financial disclosures mandatory. Some central banks and regulators are already taking decisive steps, including in Brazil and New Zealand.
However, there is still a lot that needs to be done before achieving a fully carbon-neutral environment. According to Guterres, financial institutions should align their policies with the 2°C goal and Sustainable Development Goals (SDGs).
He added that concerned authorities should significantly invest in public health, education and food security. In doing so, the world stands a better chance of improving its environmental status.
Conclusion
While there are many approaches to achieve a carbon-neutral environment, technology, more than any other product, can make net-zero carbon emissions possible. As the world becomes increasingly digitized, it follows that it becomes easier to save the environment and improve our quality of life.
