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Trading Carbon Credit Tokens on the Blockchain

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Swinkels, Laurens. 2023. “Trading Carbon Credit Tokens on the Blockchain.” SSRN Scholarly Paper. Rochester, NY: Social Science Reseach Network (SSRN).

Innovative financial services may help to reduce global carbon emissions. We examine the activity in voluntary carbon credit trading on a new blockchain based carbon trading exchange, which reduces the amount of intermediation in this market. About 3.8 million tCO2e tokens have been tokenized on the carbon token exchange, of which about 2.8 million tCO2e tokens have been burned, leaving 1.0 million tCO2 tokens available for purchase on the exchange. The total trading turnover has been $ 21.2 million over the period 2021-2022. Trading liquidity is limited to only a few types of carbon credit tokens. The prices of these most liquid tokens move in line with prices of similar carbon projects available for purchase elsewhere.

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