Duration: September 2023 until February 2025
The project group was able to show that voluntary carbon markets (VCMs) play a significant role in climate protection, but continue to suffer from a lack of transparency, uniform standards and regulation both within and outside the European Union (EU). The tokenisation of voluntary carbon credits (VCCs) using blockchain technology has the potential to improve efficiency and traceability, but cannot alone solve the challenges of verifying data on individual reforestation and CO2 removal projects.
Regulatory uncertainties, including in the EU, are hampering the integration of tokenised VCCs into existing legal frameworks. The European Regulation on Markets for Crypto Assets (MiCAR) creates a comprehensive regulatory framework, but global harmonisation is still pending. This harmonisation would be particularly beneficial in creating a level playing field for all stakeholders, from project developers, for example in South America, to investing companies, for example in the EU.
The project group was also able to show that uncertainties about key issues such as the applicable law, ownership of tokenised VCCs and their legally secure transfer are hindering market scaling. An interdisciplinary approach involving computer science, economics and law will continue to be necessary in the future to strengthen trust in tokenised VCCs and effectively support climate protection.
Technological approaches such as smart contracts and decentralised registers will simplify the trading of certificates and make it more resilient to political upheaval.
The project members presented their proposed solutions for discussion in a joint open-access book, journal articles, lectures and podcasts.
Principal Investigators
RiOLG Prof. Dr. Dominik Skauradszun, LL.M. Taxation, Hochschule Fulda | spokesperson | more information
Prof. Dr. Dr. Walter Blocher, Universität Kassel | deputy | more information
Prof. Dr. Florian Möslein, Dipl.-Kfm., LL.M. (London), Philipps-Universität Marburg | more information
Prof. Dr. Carsten Müller, Hochschule Fulda | more information
Prof. Dr. Eric Nowak, Center for Financial Studies, Goethe-Universität Frankfurt | more information
Prof. Dr. Philipp Sandner †, Frankfurt School of Finance & Management | more information
Prof. Dr. Nils Urbach, Frankfurt University of Applied Sciences | more information
Prof. Dr. Georg von Wangenheim, Universität Kassel | more information
Blockchain and Climate Action
Enhancing ESG and Carbon Markets through Financial Technology
Edited Volume | October 2025
The book offers an interdisciplinary examination of the opportunities and challenges associated with applying blockchain technology to carbon markets and ESG frameworks. It focuses on the tokenization of Voluntary Carbon Credits (VCC) and explores the related economic, technological, legal, and regulatory aspects. The contributions approach the topic from the perspectives of law, economics, and information systems, providing a comprehensive overview of current developments and research directions.
The publication was produced within the ZEVEDI research group Tokenizing Sustainability – Carbon Credits, Accountability, and ESG in Supply Chains (TOSCA).
Tokenisation of Carbon Credits: Blockchain for Climate Action?
Prof. Dr. Dominik Skauradszun in the podcast Digitalgespräch (in German only)
The trade in CO2 certificates has created complex markets in which certificates are traded almost like securities – but the legal regulation is still unclear. One possible solution: blockchain technology could make trading more efficient and transparent. Initial approaches for ‘tokenised carbon credits’ already exist, and international experts are looking eagerly to Europe’s regulation of crypto-assets.
ZEVEDI Side Event
Wednesday, May 22, 2024, darmstadtium, Darmstadt
Panel “Tokenization of Carbon Credits” 9:25 am – 10:40 am
Young Researchers Thesis Speed Dating 2:25 pm – 3:25 pm
On May 22, the first Blockchain Horizons: INATBA’s Academic and R&D Forum will take place in Darmstadt. Experts from around the world will discuss the potential deployment of DLT for various sectors and present current research at the Congress Center Darmstadtium. As part of a side event organized by the Center Responsible Digitality (ZEVEDI), we invite young researchers to present their research in a speed dating format. A time slot of 7 minutes is available for each “date”, after which participants will rotate. Exchange ideas, network, find project partners – all in a casual setting.
Participation in the ZEVEDI side event requires a valid ticket for the Blockchain Horizons: INATBA’s Academic and R&D Forum. The first 20 participants who sign up below will receive a free ticket from ZEVEDI. You do not need to purchase a ticket yourself and will not receive a refund for tickets already purchased. We will notify each participant whether they will receive a complimentary ticket or if they need to register themselves.
Tickets for the conference are also available at https://inatba.org/blockchain-horizons/
Previous events
Tokenization of Carbon Credits
Final Workshop, 24 February 2025 | more about this event
Tokenization of Carbon Credits
Internal Workshop, 24 September 2024 | more about this event
Tokenization of Voluntary Carbon Credits
Interdisciplinary Conference,
7 June 2024 | more about this event
Tokenization of Carbon Credits
Internal Workshop, 22 March 2024 | more about this event
Tokenization of Carbon Credits
Internal Workshop, 4 December 2023 | more about this event
