| dc.description.abstract | The growing climate crisis has raised the need to search for reliable mechanisms which could
reduce greenhouse gas gas emissions worldwide. Carbon markets can continue to play a central
role in this effort but often there is a problem of duplication of credit, fraud, multi-jurisdiction
and poor traceability. There is an attempt to avoid such shortcomings by suggesting a
multi-layered framework, called BAIC-Gov. The framework enables automated and verifiable
monitoring and enforcement of carbon credits through blockchain technology, smart contracts,
live real-time data on the Internet of Things (IoT) and anomaly detection via Artificial
Intelligence (AI). Smart contracts are coded in such a way that they will be directly connected to
the emissions data measured by IoT sensors, thus credit issuance as well as compliance will take
place autonomously and with precision. Such application was illustrated with the use of the
IBM-China ETS and Toucan Protocol. The framework enhances the climate governance, the
ability of the market to scale, and the willingness by countries around the world to achieve
carbon neutrality to establish a more sustainable future by strengthening confidence and integrity
in carbon trading. | en_US |
