Current Team member names Qianni Wu @WuLiumu
Teammate recruitment: anyone who is interested in carbon insurance or decentralized insurance, please contact me.
X: @WuLiumu
Wechat: WuQianni0613
Summary of Our Research Proposal
Our proposal focuses on studying the impacts of carbon insurance on the effects of carbon reduction and carbon trading market expansion. There has been some judgment on this by previous insurance experts that carbon insurance would help scale up the carbon market by addressing the inefficiencies, lack of transparency, and transaction risks faced by carbon credit buyers in existing carbon trading markets, so that it would help us to combat climate change. However, at the current stage, there needs to be more research to discuss or prove carbon insurance will. In our current study, inappropriate compensation way will lead to even more carbon emissions. Therefore, deeper research deserves to be done. This is intended to accelerate the expansion of the carbon trading market, facilitating the entry of more private capital into the carbon removal market, as well as the involvement of more carbon removal solution providers in addressing CO2 emissions.
As many of you know, the ReFi movement has opened many people's eyes to the potential of Web3 or blockchain to combat climate change, but the current works are not enough. The carbon trading market(especially the VCM), as a market instrument for carbon removal solutions, needs to be expanded urgently in order to attract more carbon removal solution providers. Carbon insurance may play a big role here, but is the traditional insurance model the most appropriate and fastest way to go? Not necessarily. There are a series of problems with traditional insurance, such as non-transparency, slow claims settlement, and high insurance costs, which hinder the further development of the carbon insurance market. For some standardized and easily quantifiable risks, decentralized insurance may play a bigger role as it is more transparent and efficient than traditional insurers.
Based on the above information, we believe that it is worth exploring the impact of carbon insurance on emissions reduction and whether decentralized carbon insurance(or blockchain-based carbon insurance) can have better effects. It is also necessary for more people to see the role of carbon insurance as well as blockchain in combating climate change!