Capturiant is excited to be partnering with key players in the oil and gas industry to advance environmental technology by facilitating the sale of carbon offsets created through the deployment of these innovations. This collaboration is not only a significant stride towards a sustainable future but also a clear demonstration of our shared commitment to environmental responsibility. By tapping into the potential of these groundbreaking technologies, we aim to reduce carbon emissions and contribute substantially to the fight against climate change. Stay tuned for more updates on this exciting venture as we continue to pioneer the path towards environmental progress.
As global efforts to combat climate change intensify, many companies are making commitments to reduce their greenhouse-gas emissions. However, achieving net-zero emissions is challenging, leading to a surge in the demand for carbon credits. According to McKinsey, the demand for carbon credits could grow 15-fold by 2030 and 100-fold by 2050, making the carbon credit market worth over $50 billion by 2030.
Apart from offsetting emissions, voluntary carbon markets fuel climate-action projects and stimulate innovation in climate technologies, while also fostering economic activity in the Global South. However, the current market is fragmented and complex, necessitating a large, transparent, verifiable, and environmentally robust voluntary carbon market.
One might assume that an industry as important to reducing greenhouse gas (GHG) emissions as the carbon credit market would be regulated to ensure transparent and trustworthy transactions and business practices, but the reality is that the carbon credit market is in fact the Wild West with little to no government oversight. For an asset class estimated to be in the trillions of dollars, this lack of regulation stagnates the growth and success of the carbon market and its efforts to reduce and remove GHG emissions. This unregulated environment increases the risk of fraud and mismanagement, undermines the credibility of the carbon credit system and reduces confidence in the market. The recent Guardian articles on Verra highlight these regulatory shortcomings.
Capturiant is collaborating with the Carbon Neutral Coalition to provide expert insights on proposed legislation within the Texas legislature concerning tax incentives for carbon capture projects. Our collective knowledge and experience in the field of environmental technologies uniquely positions us to evaluate and contribute valuable feedback on these proposed measures. Our aim is to ensure that the legislation effectively promotes carbon capture initiatives. This partnership underlines our commitment to fostering a sustainable future and influencing policy-making that supports environmental advancements, particularly in the arena of carbon capture technology. We look forward to playing a key role in the development of impactful legislation that drives forward the carbon capture industry in Texas and beyond.
Capturiant is a validator, registry, and regulated exchange, driven by digital ledger technology that aims to propel the environmental asset credit space forward with transparency and standardization. For more information on minting or purchasing environmental asset credits, please contact a member of our team.
James C. Row, CFA
Managing Director, Business Development
Robert C. Mara