Carbon , Community , Trading

The pressing challenges of climate change have prompted the global community to seek innovative solutions to reduce carbon emissions and mitigate their environmental impacts. Carbon trading has emerged as a leading market-based approach to tackling this issue. However, traditional carbon trading systems at the national or international levels often need to pay more attention to the local context and engage communities directly. This white paper proposes a place-based carbon trading framework wherein businesses and organizations can purchase carbon credits from carbon farming initiatives within their own geographic location. By fostering localized regional-level carbon trading, this approach aims to empower communities, enhance local environmental impact, and promote sustainable development. This paper briefly analyzes place-based carbon trading, discussing its potential benefits, challenges, and the policy and institutional framework required for successful implementation.