Retirement
This section describes the process of retiring carbon credits on the ZeroSix platform.
A user who owns carbon credits on the ZeroSix platform can also retire a number of carbon credits she/he owns. Similar to the transfer of carbon credits, to initiate the process of carbon credits retirement, the user selects the option Carbon Offset from the navigation menu. The user is then presented with the list of carbon credits associated with her/his account. The user can select the type of carbon credit she/he wants to retire and specifies the amount of carbon credits to be retired. The user then clicks the Retire button.
The user is transferred to the Bulk Retire page shown below.
To transfer the carbon credits the user needs to specify the name of the entity on behalf of which the retirement of carbon credits will take place. This information will be shown on the retirement certificate that will be automatically generated by the ZeroSix platform.
Once the information has been provided the user initiates the transfer by clicking the Confirm button.
Similar to the transfer of carbon credits, a confirmation and two-factor authentication process takes place before the actual retirement of carbon credits takes place.
Once the 2FA has been successfully passed, the transaction of the retirement of carbon credits will be processed by the Energy Web Chain.
Once processed, the carbon credits specified by the user will have been permanently retired and subtracted from the user's portfolio. Moreover, the user will receive an email to his registered email address with the carbon credit retirement certificate. The retirement certificate can be accessed via the certificate link provided in the email and is stored permanently and in an immutable way on the InterPlanetary File System (IPFS). The user can further independently verified the retirement of the specified amount of carbon credits by inspecting the transaction hash, included in the retirement certificate, in the Energy Web Chain explorer to see retirement transaction (Token Burning).
The user can also view the history of her/his transaction by clicking the History option from the menu.
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