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IETA has published a paper on 'The Digital Transformation of Carbon Markets'.
In this paper, IETA outlines its vision for what a digitally transformed carbon market could look like. Focusing on three enablers of the transformation:
- Digitlisation
- Standardisation
- Artificial Intelligence
Traditionally, the carbon credit market has been dominated by analogue processes, with data exchanged between entities in a manual or semi-automated manner. While there have been some digital advances, overall, the carbon market has generally been slow to fully embrace technological innovation.
However, the market is on the brink of an exciting transformation. While challenges around transparency and trust have previously hindered its growth, a powerful shift is now underway. Innovative market forces are converging, paving the way for a full digital transformation that has the potential to revolutionise every stage of the carbon value chain. This shift promises to dramatically enhance transparency and accessibility, rebuilding trust and unlocking new opportunities for expansion.
To fully realise these benefits, market players must come together, invest in the future, and embrace innovation. With the right collaboration and commitment, the market is poised for unprecedented growth and success.
Read the full Vision Paper, here.
