Blockchain’s potential in forest offsets, the voluntary carbon markets and REDD+

Summary Increasing net-zero commitments by individuals, companies and governments have been accompanied the growth of voluntary offset market, including Reducing Emissions from Deforestation Forest Degradation (REDD+). Technologies, notably blockchain, are starting to enter REDD+ space may potential address issues such as additionality, permanence, leakage property community rights. In this Perspective, we first examine markets role forest carbon offsets played within them, highlighting evolution that hindered its development. We then blockchain each issues, using literature emerging experience use in forestry space. find technology improve verifiability, reduce transaction costs and, a lesser degree, aid addressing additionality permanence concerns. However, greater learning pilot projects is needed fully assess maximize potential.