Airlines Carbon Offset Tokenization
Airlines Carbon Offset Tokenization / Miscellaneous are the changes that the world is facing as a result of global warming, generating greater concern in various industries as well as in international organizations to reduce the damage caused to the environment.
Carbon credits
A credit or carbon credit is a ton of CO2 related to the absorption or avoidance of damage to the atmosphere caused by the same, credit, credit or token., are the current ways of representing this value-generating title for various sustainability activities recognized by the Carbon Development Mechanism (CDM) institute.
These credits serve as a voucher which an entity acquires to try to minimize the effect of its carbon footprint. There are different types of tokens to offset carbon ex-before, the first is used before the event has occurred where C2O emissions are reduced and in the ex-post, it corresponds to financing by credits once emissions have been avoided. emissions in the project.
carbon offsets
The most developed countries with the most powerful industries are those that most resort to mechanisms to reduce their CO2 footprint, using complementary mechanisms to reduce greenhouse gases in their territory.
Standard compensation certificates in the Market
In order to give you trust, transparency and credibility, projects that offset their carbon footprint must be supported by standard certifications approved by the CORSIA International Aviation Carbon Offsetting and Reduction Scheme.
Carbon neutrality
Carbon neutrality, or zero carbon footprint, is about minimizing greenhouse gas emissions by offsetting incomprehensible emissions. One way to achieve carbon neutrality could be the financing of environmentally based projects capable of absorbing or reducing the amount of CO2 equivalent to the amount of CO2 produced by the organization’s activity.
What is carbon footprint tokenization for airlines?
In the blockchain, carbon emissions are transformed into tokens, called carbon credits., with these companies and public organizations will be able to change said credits to compensate their footprint. The objective is to preserve the airspace and the environment that surrounds the airports in question and fight against climate change that threatens life on Earth, a sustainable business policy that more airlines should embrace every day.
Principles of tokenization for airlines
- Fuel Metering Considerations, framed in the CORSIA International Aviation Carbon Offsetting and Reduction Scheme
– Identification and use of sustainable aviation fuel and carbon offsets as part of the CO2 calculation
– Non-CO2 emission considerations and radiative forcing index
– Cabin class weighting and multipliers to reflect different airline cabin configurations
- Weight-based calculation principle: Allocation of CO2 emissions per passenger and cabin load.
– Definition of the weight of the passengers, using the actual and standard weight
- Well defined scope for calculating CO2 emissions in connection with flight activities
– Emissions elements for the conversion of aircraft fuel consumption to CO2, fully aligned with CORSIA
What is Universal Carbon UPCO2?
It is a green token interchangeable in blockchain like any cryptocurrency, which can be kept as an investment, or can be used as a means to offset the carbon footprint.
Each token is equivalent to one metric ton of carbon no emitgone into the atmosphere, and is offered to the market for a price of between 11 and 15 dollars.
Its co-founder Juan Pablo Thieriot mentions “There are many people who believe that we are at a turning point and it is an inconceivable anachronism that while there is a price for gold or oil there is no available carbon market for everyone”.
What is Moss Token?
It is the largest carbon credit technology portal in the world, where users can neutralize their CO2 emissions; Through the green token MCO2, it has global characteristics, they are developed on Blockchain, their main objective being to neutralize CO2 emissions by supporting certified environmental projects that operate in the Amazon.
Airlines that already offset their footprint in the market
The Brazilian airline Gold is one of the pioneers in carrying out flights where passengers were voluntarily offered the possibility of offsetting the carbon emissions generated by their trips, which it has done through a strategic alliance with Moss Token.
At the time of making their purchase, GOL passengers are shown an estimate of the calculation of their carbon emissions, in addition to the guidelines to offset said emissions, those who are interested in this information will be sent to the website moss.earth, where they can buy the MCO2 tokens developed with blockchain technology.
NFT’s Tickets
Air Europa was the first airline to mint a plane ticket in the Algorand blockchain through TravelX, this being the ticket with the highest economic value sold in the history of commercial aviation in April 2022. This sale was made possible through the company TravelX, who developed the travel industry’s first blockchain-based distribution protocol, and Air Europa. In addition to NFT’s tickets, the airline has also shown its interest in the creation of NFT Art collectibles as well as uses for industrial blockchain related to increasing efficiency exponentially in the areas of cost, sustainability and performance, also focused on maximizing value. of the user experience.
Some industry experts claim that Blockchain can help reduce industry expenses by 50–75%, and it is also worth noting the income they have already generated with the sale of their first NFT ticket, which amounted to more than 1 million dollars.
This is how we can observe the various uses and functionalities offered by tokenization and the NFT world to the aviation sector, which timidly has already taken its first steps towards the The use of this avant-garde technology continues to rise thanks to the implementation of the calculation of the carbon footprint as a shared responsibility with the passenger and its uses to optimize costs.
In the development of Blockchain projects do not stop working with the experts, MiT Software.
