Veles - Carbon Credits Pallet
  • Get Started
    • What is the Veles pallet
    • What are carbon credits
    • How to use the Veles pallet
  • Pallet entities and functionalities
    • Entities
      • Authority Accounts
      • Carbon Footprint Accounts
      • Trader Accounts
      • Project Owner Accounts
      • Validator Accounts
      • Projects
      • Carbon Credit Batches
    • Functionalities
      • Authority exclusive functionalities
        • Update vote pass ratio
        • Update penalty levels
        • Update beneficiary splits
        • Update time value
        • Update fee value
      • Validator exclusive functionalities
        • Cast vote
        • Open complaint
      • Project owner exclusive functionalities
        • Propose project
        • Propose carbon credit batch
        • Repay debts
      • Carbon footprint account exclusive functionalities
      • General functionalities
        • Register for trader account
        • Register for project validator account
        • Register for project owner account
        • Submit carbon footprint report
        • Create sale order
        • Close sale order
        • Complete sale order
    • Timed events
    • Penalty rules
  • Contact
    • Contact
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What are carbon credits

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Last updated 10 months ago

Carbon credits can be seen as tradable certificates or permits representing the right to emit one ton of carbon dioxide or an equivalent amount of a different greenhouse gas. These credits are part of international efforts to mitigate climate change by providing economic incentives for reducing carbon emissions.

One way in which a entity, such as a organization or a country, could produce carbon credits is through lowering its own emissions. Once the entity proves and documents that it has successfully reduced their emission to a certain point they could receive a certain amount of carbon credits equal to the amount of emission that they have decreased. These credits can then be sold to other parties so that they could use them to decrease their emission.

If you would like to learn more about carbon credits and how they function please visit the or have a look at this .

carbon credits website
investopedia page