Yesterday, blockchain-based carbon marketplace ClimateTrade announced it would start trading in the mandatory carbon market after its admission to the European Energy Exchange, a subsidiary of the Deutsche Börse Group.
The move to the mandatory carbon market will mean that carbon credits bought and sold on the ClimateTrade marketplace can now be exchanged under the EU Emissions Trading Scheme (EU ETS) and can contribute toward official decarbonization targets.
Annual carbon emissions have a cap set by the European Union which applies to sectors responsible for significant pollution, such as power generators, manufacturing and airlines.
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