International Sleeping accommodation of Commerce (ICC) launched its new Carbon Council initiative to celebrate Earth Day's 50th ceremony, which will work on bringing higher liquidity to the carbon market through the use of blockchain.

ICC is an institutional representative of more than 45 million companies in 100 countries. Considering their all-encompassing attain, this could be a big win for both the carbon market place and the blockchain industry.

The ICC is working on Carbon Council alongside Perlin, a blockchain firm creating a carbon-friendly digital business ecosystem, and AirCarbon Exchange, a carbon nugget digital exchange.

Major international companies including BlackRock, Macquarie Banking concern, Shell, Singapore Airlines, State Street and Temasek attended the inaugural meeting of ICC's Carbon Quango.

ICC says that the primary goal of founding the Carbon Council is to interact with both public and private companies to create a improve system for funding global climate action. Their intended use of blockchain technology is to bring more than liquidity, transparency, accessibility, and standardization in the carbon markets.

Addressing the dire need for businesses worldwide to work together in addressing the threats of global warming, John W.H. Denton AO, secretary-full general of ICC, said:

"This milestone Earth Mean solar day is a reminder that we must not lose sight of the demand for an inclusive, resilient and sustainable futurity for people and our planet."

Using blockchain for carbon marketplace growth

Through the Carbon Council, ICC plans to attract more investment into the carbon market place and so carbon mitigation projects could function more efficiently.

Perlin CEO Dorjee Dominicus says that the initiative by Carbon Council "will complement the Carbon DAO for project funding nosotros are launching, which will provide unprecedented access to best-in-course carbon projects worldwide."

Seeing the huge potential of blockchain in the energy sector, many international organizations and startups are currently working to tackle carbon emission issues using blockchain.

1PLANET was one of the first to launch a decentralized app that allows users to immediately utilize ERC-20 tokens to mitigate or commencement their carbon emissions. In Oct 2022, Cointelegraph also reported the launch of AirCarbon's global tokenized carbon credits trading platform that allows firms to purchase and sell tokens representing carbon showtime credits.