64 results about "Carbon credit" patented technology
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A carbon credit is a generic term for any tradable certificate or permit representing the right to emit one tonne of carbon dioxide or the equivalent amount of a different greenhouse gas (tCO₂e). Carbon credits and carbon markets are a component of national and international attempts to mitigate the growth in concentrations of greenhouse gases (GHGs). One carbon credit is equal to one tonne of carbon dioxide, or in some markets, carbon dioxide equivalent gases. Carbon trading is an application of an emissions trading approach. Greenhouse gas emissions are capped and then markets are used to allocate the emissions among the group of regulated sources.
A computer implemented method and system is provided for achieving carbon neutrality. A service provider creates an emission reduction project plan for generating carbon emission reduction credits. A verification entity verifies compliance of the emission reduction project and generates a verification report. A certification entity authenticates the verification report and generates a certification report. A custodial financial institution reviews documents and title to rights and deposits carbon emission reduction credits into the service provider's carbon credit trading account based on the certification report, the verification report, and title documentation. The service provider creates carbon neutral products with unique identifiers using the carbon emission reduction credits in the pre-created carbon credit trading account. An end user can retire the assigned carbon emission reduction credits by registering their details and the details of their purchase with the service provider using the unique identifier of a purchased carbon neutral product.