ICC Launches Carbon Council for Higher Liquidity in Carbon Market

Vandana  |  Apr 22, 2020

International Chamber of Commerce or ICC, the world’s largest business organisation has started an initiative on 50th Earth Day. It has launched the Carbon Council which will help to bring higher liquidity in the carbon market. This will be done with the help of blockchain technology.

This step taken by ICC is going to be a great step till date in both the carbon market as well as blockchain technology also. This is because the organisation is a representative for more than 45 million companies across the world.

ICC to work along with Perlin on Carbon Council

Through several sources, it has been revealed that ICC will be working along with Perlin on the Carbon Council. Perlin is a blockchain firm which is creating a digital business ecosystem which is also carbon-friendly. This blockchain firm has also created a carbon asset digital exchange namely AirCarbon Exchange. Some of the major international companies have attended the Carbon Council’s inaugural meeting.

The major purpose of ICC behind building up this council is to create a system which will provide funding for global climate action. This will be done by collaborating with the different public as well as private companies. The use of blockchain technology will bring more liquidity and transparency along with other things to the carbon market.

John W.H. Denton AO, secretary-general of ICC has said that one must not move away to bring the sustainable future for the complete planet.

Carbon Mitigation Projects will work efficiently 

There are some huge goals of ICC behind creating this council and one is to attract more and more people to invest in the carbon markets. With the help of this, the carbon mitigation project will be able to work efficiently. It has also been seen that some huge international organisations are also tackling the issues related to the carbon emission with the help of blockchain technology.

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