  The increasing significance of sustainability considerations within both
public spheres (such as policies and regulations) and private sectors
(including voluntary commitments by major multinational corporations)
underscores the imperative to harness cutting-edge technological advancements.
This is essential to ensure that the momentum of this trend translates into
tangible outcomes, thwarting phenomena like greenwashing and upholding high
standards of integrity, all while expediting progress through automation. This
paper focuses specifically on carbon markets, which, after enduring years of
confusion and controversy, may finally be on the brink of converging toward
internationally recognized minimum standards. Beginning with an introduction to
fundamental concepts pertaining to carbon markets and Distributed Ledger
Technologies (DLTs), the paper proceeds to dissect the challenges and
opportunities within this burgeoning field. Its primary contribution lies in
offering a comprehensive overview of recent developments across various
initiatives (such as ICVCM, IETA/WorldBank/CAD Trust, IEEE/ISO) and providing a
layered analysis of the entire ecosystem. This framework aids in understanding
and prioritising future endeavours. Ultimately, the paper furnishes a set of
recommendations aimed at bolstering scalability and fostering widespread
adoption of best practices within international markets.
