Carbon offsetting is something that has become a more and more important trend over the last few years, as more people become environmentally-conscious and are aware of the impact that they are having on the world around them.
All sorts of schemes and programmes currently exist for offsetting one’s carbon footprint. Many people choose to plant trees (in some cases, entire forests) in order to offset their emissions in other areas.
For example, many celebrities around the world appreciate the opportunity to virtue signal their green credentials by donating large sums of money to green initiatives after having flown private jets around the world.
Carbon credits are coming to the blockchain
One new project, called IMPT, hopes to use blockchain to incentivise individuals to make the world a better place and to reduce their carbon footprints.
At the moment, the way that carbon credits and managed is done in a rather antiquated way, and the trading of carbon credits is done almost exclusively between companies.
This is due to the fact that there is currently no incentive whatsoever for individuals to use carbon credits. The largest polluters in the world are companies and there are no states around the world (at the moment) that impose caps on one’s carbon footprint.
With recent announcement and developments from the World Economic Forum, this is something that is likely to change over the coming years, as plans are being made to heavily restrict what people can do unless they have demonstrated that their “social credit score” for carbon is reasonably positive.
IMPT hopes to make it easier for individuals as well as companies to use carbon credits.
Incentivising “responsible shopping”
When one shops with any of over 10,000 different companies that have been shown to be ESG-friendly through the IMPT shopping platform, they are eligible to earn IMPT as cashback rewards.
This means that those who choose to shop responsibly, with the environment in mind, can be rewarded for their contributions to society in terms of lower carbon emissions and footprint.
ESG has become one of the most important criteria over the last few years in the investing world, with many companies not only being incentivised to invest in a particular way, but mandated to do so.
Relevant news:
IMPT - New Eco Friendly Crypto
- Carbon Offsetting Crypto & NFT Project
- Industry Partnerships, Public Team
- Listed on LBank, Uniswap
- Upcoming Listings - Bitmart Dec 28, Gate.io Jan 1st