Blockchain-Based Carbon Footprint Management

Pekel U., YAYLA O.

Workshops that took place in conjunction with the 29th International Conference on Financial Cryptography and Data Security, FC 2025, Miyakojima, Japan, 18 April 2025, vol.15754 LNCS, pp.29-49, (Full Text) identifier

  • Publication Type: Conference Paper / Full Text
  • Volume: 15754 LNCS
  • Doi Number: 10.1007/978-3-032-00495-6_2
  • City: Miyakojima
  • Country: Japan
  • Page Numbers: pp.29-49
  • Keywords: Blockchain, Blockchain Technology, Carbon Credits, Carbon Footprint Management, CO2, CO2 Emissions, Environmental Sustainability, Multiple Attribute System, Smart Contracts for Data Sharing, Token Economy, Tokenization, Tokenization of Assets, Utility Tokens
  • Middle East Technical University Affiliated: Yes

Abstract

This paper introduces a novel approach to managing carbon footprints using blockchain technology to integrate these footprints intrinsically into the attributes of products, akin to their price. In contrast to conventional methods that treat carbon footprints as distinct, tradeable units, our model incorporates them directly into the product life cycle, thus maintaining the connection between environmental impact and product consumption. By closely examining blockchain’s functionality, this study illustrates how it can improve transparency and security in transactions while influencing market dynamics by making carbon accountability an integral part of product ownership. This method may aid in establishing a more sustainable economic model by better incorporating environmental costs into transactions, potentially fostering progress in environmental finance and sustainability initiatives.