How CO2IN works to reduce emissions?
1. The warming of the planet is caused by greenhouse gas emissions
Climate change is already affecting us. The burning of fossil fuels, deforestation, and industrial livestock farming is contributing to an increase in greenhouse gases in the atmosphere, leading to a warmer planet and an unstable climate.
To prevent the most severe consequences of global climate change, we must fully decarbonize our economies within the next 30 years.
2. The EU and the Emissions Trading System
In 2005, the EU implemented an emission allowance system as part of its efforts to decrease greenhouse gas emissions. Under this system, one allowance equates to one metric ton of greenhouse gases.
3. Reducing the number of emission allowances
The European Union releases a set amount of allowances into circulation each year, with the volume decreasing annually. This decrease is intended to eventually bring the total volume of allowances to zero over time.
4. 100 CO2IN is equivalent to 1 emission allowance
CO2IN makes the otherwise hard-to-access emissions trading market open to all. Users can offset their emissions by purchasing CO2INs that are linked to allowances.
By buying 100 CO2INs, you reduce the number of emissions that would otherwise be released into the atmosphere by 1 tonne.
5. What happens to the money collected from allowances?
In addition to the money that goes directly to the states, part of the revenue from the sale of allowances goes to the EU Innovation Fund.
Another portion goes to the Modernisation Fund, from which the European Commission distributes resources to poorer regions of the EU in the form of subsidies.
6. Benefits of CO2IN
CO2IN has a range of uses beyond offsetting your carbon footprint as an individual or business. It can also be used as a form of payment via our partners and merchants, or given as a voucher to loved ones, employees, or new customers.
Although the introduction of the allowance system has led to a decline in emissions, progress has been slow, as shown in the graph below. To limit human-induced climate change and prevent the associated warming of the planet from exceeding 1.5°C above pre-industrial levels, we need to triple the rate of emissions reductions at a minimum.