LONDON, UNITED KINGDOM, December 13, 2023 /EINPresswire.com/ — Therme Group and the University of Surrey (UniS) have announced a new collaborative effort to research ways to reduce the environmental impact of the visitor economy. Emissions from tourism are set to double in coming decades unless trends are reversed.
The joint research effort is focused on the Carbon Tokenomics Model (CTM), which has the potential to reduce the climate impact of the visitor economy.
While there are significant efforts being made to transition to cleaner energy sources for land-based transport and buildings, the tourism sector has been left on the tarmac in the move towards net zero. It is challenging for organizations to be confident in the genuine positive impact of current offsetting solutions.
Therme Group and University of Surrey consider that the Carbon Tokenomics Model (CTM), a mechanism designed to make great strides in the fight against climate change, might be one of the solutions.
The future of the Voluntary Carbon Market has greatly increased in recent months. In particular, following a European Union announcement regarding tracking the carbon footprint in the absence of a reliable, scientifically proved, transparent and sustainable mechanism.
The new joint research effort seeks to transform the tourism industry’s emissions measurement and carbon trading with a revolutionary three-tier token-based system.
The CTM mechanism is now under development and stress-testing by several groups of researchers through three different research studies. The two parties jointly released new research on the topic at COP28 in Dubai.
The first study, aptly named “Redesigning Carbon Credits to Future-Proof the Visitor Economy with Blockchain Technology and Progressive Tokenomics” is spearheaded by SWELL (Centre for Sustainability and Wellbeing in the Visitor Economy, UniS), with leading researchers Prof. Xavier Font and Prof. Eduard Goean.
The other two studies, “Reinventing Carbon Credits for the Visitor Economy through a 3-Tier Token Concept” and “A New Era of Security and Innovative Tokenomics for the Future Visitor Economy”, fall under the domain of SABMA (Surrey Academy for Blockchain and Metaverse Applications). These studies, helmed by lead researchers Prof. Yu Xiong and Prof. Eduard Goean, are poised