I've seen many projects about this but it seems most of them are lacking on something. Carbon credit market is a billion dollar industry and applying blockchain will be good for both industry.
the carbon credit market isn't helping for lowering carbon emissions.It should be banned.We could create a new coin-CARBONCOIN and the mining of that coin should be reducing carbon emissions by using green technologies,such as solar panel and wind turbines.
That's just an idea...
I have a different opinion on that. The money that was used to purchase the carbon credits are invested depending on the institution where the carbon credits are bought. Some of them uses the funds to either plant more trees, prevents deforestation, closing companies that are known carbon emitters, investing on green energy, etc. Carbon credits havent worked because they are illiquid, difficult to track, hard to calculate, and are not standardized. This is where blockchain will comes in. I saw an interesting project who's planning to automate the world's carbon market but I'll study more about it and share it here.
Also, I think that it is much better that no mining is involve for green tokens as it breaks the purpose.