America under President Biden has re-joined the 2015 Paris Agreement and pledged a $2 trillion four-year climate plan, but a workable Cap and Trade program is seen as pivotal if the USA is to go on and hit zero carbon emissions by 2050.
Cap and Trade is a program where ‘carbon credits’ are given to high polluting companies from governments and regulatory authorities, to ‘cap’ their emission of carbon dioxide or other greenhouse gases. Caption: Digital Twins could make a success of US carbon credits
Any company exceeding the agreed cap is then taxed or they can ‘offset’ by buying credits from lower emission companies with credits to spare.
One Cap and Trade carbon credit is equal to one tonne of carbon dioxide and the overall number is intended to reduce over time, thereby incentivizing companies to cut their greenhouse gas emissions.
However, many in the USA are concerned that the program gives some companies too much leeway to emit more emissions, by buying up credits and simply charging more for their products and services. Those critics have called for a solution enabling both profit and emission reduction to work in synergy for both big and small companies.
Digital Twins could be that solution. Cityzenith's Digital Twin software platform SmartWorldOS™ can create virtual replicas of buildings and infrastructure to track, manage and optimize carbon emissions and minimize environmental damage, making emission reduction easily accessible and cost-effective.
Cityzenith founder and CEO Michael Jansen said: "Cap and Trade can work if industries have the technology and data to track and measure carbon emissions effectively so, instead of companies buying their way out of emission issues, they have the intelligence and data to lower both costs and emissions at the same time though the accuracy of Digital Twins.
"Our SmartWorldOS™ platform can handle massive data streams harnessed to cutting-edge AI We know the issues and have the capabilities to help solve them for industries across the US and worldwide."
Jansen added that Cityzenith's technology could also be a vital asset in reducing emissions across cities and urban areas – which is the focus of the 'Clean Cities - Clean Future' campaign:
"Despite covering only 2% of the Earth's surface, cities contribute to 70% of global carbon emissions while consuming 78% of the world's primary energy, of which we waste 67.5%. SmartWorldOS™ can provide the essential interconnectivity required to reduce these percentages."
To hear more from Cityzenith CEO Michael Jansen, please join an upcoming FREE investment webinar, ‘Investing in an AI Technology Platform for Sustainable Cities' taking place virtually on Tuesday July 20th at 13:00 CT. To learn more about using emerging tech to combat Climate Change, please sign up here.