PLUG - Sovereign Carbon Credits: A New Competitor in the Carbon Market
Carbon credits have been struggling to gain a foothold, but Deutsche Bank just lit a fire under them by acquiring sovereign carbon credits from rainforest nations. The primary purpose of sovereign carbon credits is to minimize deforestation by transforming them into financial assets that enable rainforest nations to maintain forests while gaining financial support. The United Nations Framework Convention on Climate Change (UNFCCC) REDD+ process generates sovereign credits. The proceeds from carbon credit sales will be used to reduce emissions and create infrastructure. Forests act as carbon sinks, sequestering roughly 7 billion metric tonnes of CO2 per year, a number that will increase from sovereign credits. Technology-based carbon projects are another essential component in the fight against climate change, creating an opportunity for companies like DevvStream, Sunworks, Inc. ( NASDAQ:SUNW ), Orbital Energy Group, Inc. ( NASDAQ:OEG ), Canadian Solar Inc. ( NASDAQ:CSIQ ) , and Plug Power Inc. ( NASDAQ:PLUG ) to aid in the clean energy transition.
DevvStream is a pioneer in green technology-based project investment and carbon credit generation, providing seed capital for green projects in exchange for the rights to the carbon credits produced by these projects. The company’s unique approach provides capital to incentivize and initiate environmental projects while transparently managing the entire carbon credit generation process ...
Click here to read the full article on PressReach.com .Subscribe to the PressReach RSS feeds:
- Featured News RSS feed
- Investing News RSS feed
- Daily Press Releases RSS feed
- Trading Tips RSS feed
- Investing Videos RSS feed
Follow PressReach on Twitter
Follow PressReach on TikTok
Follow PressReach on Instagram
Subscribe to us on Youtube