Offsetting your Carbon Footprint on the Blockchain
Carbon offset has been a prevalent concept among prominent industries in recent years. To put this system into action, major industries are actively encouraging it. While reducing your carbon footprint is beneficial to both businesses and the environment, there are a few questions that need to be asked. How can firms avoid large supply chain disruptions while implementing new carbon-reduction measures? How can we ensure that our accounting is accurate? What strategies will businesses use to capitalize on the new opportunities? Is it possible to develop new, long-term work possibilities beyond the climate transition?
Well, there are governmental and societal attempts to lessen our carbon footprint, but the focus of this article is on accurate carbon emissions reporting and business potential since carbon credits encourage innovation and create new markets. The main purpose of these new marketplaces is to boost the liquidity and accessibility of surplus carbon credits for resale to other businesses.
Prioritization in the context of climate change entails developing new habits, paying attention to new details, and gaining a greater awareness of the significance of our activities. Use of renewable energy, recycling, limiting plastic usage, planting trees, taking public transit, and decreasing food waste are just a few examples of measures that can be taken to help reduce CO2 emissions.
Change is always associated with growth. It will be difficult to change the structure of our industries, as well as the way we see and perceive the world. Changing ourselves and our way of thinking is the most difficult thing of all. To meet our goal, each industry must be examined separately, and solutions for lower or zero CO2 emissions must be found for each.
At RED, the offset you will be able to purchase comes from verified and validated sources. Our crew has gone over every one of them, so all you have to do now is determine your carbon footprint and the quantity of offset you need to cover to become neutral. Motivation, we believe, is essential for a successful game plan modification. It may be of interest to you to learn that your efforts to live a greener life can be rewarded in this system based on blockchain. So, without much further ado, let’s briefly discuss what carbon offset is all about.
What is a Carbon Offset?
To clarify what a carbon offset is, it is a concept that involves compensating for greenhouse gas emissions, such as CO2, that are unavoidable in daily life and economic activities by investing in greenhouse gas reduction activities that are equivalent to emissions. There are lots of things we do in our everyday activities that consume energy and emit carbon emissions which include driving, flying, heating buildings, to mention but a few.
Carbon offsets allow you to take part in projects that promote green energy production, tree planting, and food waste reduction, among other things. Companies and people may boost their green energy production and reduce carbon emissions even more with your efforts, thanks to a more complete participation approach and increased awareness. Companies face huge challenges in totally reducing their carbon impact. Balancing output, earnings, and sustaining the same number of employees can be difficult depending on the industry. Carbon offset allows them to operate at full capacity while simultaneously contributing to a cleaner environment.
How to Offset Your Emissions
Calculate your emissions: The more accurate your calculations are, the more effectively you can reduce your carbon footprint. Calculating your carbon footprint can assist you in prioritizing the activities you may take to reduce it by finding the most significant reduction opportunities.
Start decreasing your emissions: Emissions can be reduced by driving more efficiently, inspecting your tires, and using cruise control on long travels.
From our portfolio, select an offset offer: The credits come from a variety of carbon reduction and avoidance efforts throughout the world. With this, you have the option of selecting an offset offer on our platform, by buying GTK and REO-G tokens and claiming your sustainability certificate.
Why Carbon Offset?
Offsetting is a method of reducing GHG emissions most cost-effectively and efficiently possible. In the fight against climate change, offsetting is critical. At RED, we believe that climate change can only be resolved if everyone, including individuals, corporations, and governments, takes reasonable efforts to decrease CO2 emissions as much as feasible and then offset the remainder.
Read Also: Restart Energy Democracy Token Ecosystem
Become Sustainable with the RED Platform
Follow along to see how you can contribute and make a difference, whether you have been thinking about the influence your everyday choices have on the environment or if you believe something needs to be done to combat climate change but aren’t sure what it is. Every situation is different, but regardless of your circumstance, you can lower your carbon footprint: small or large consumers, manufacturers, and businesses may all benefit from a system that compensates for their emissions.
Restart Energy Democracy (RED) is a blockchain-based platform that simplifies the CO2 offset issue by turning it into a simple process that anybody can follow via a mobile app anywhere in the world. The RED platform’s offset system benefits its members and the community, making it easier for new users to get started. Another feature of the RED ecosystem is that it does not necessitate the construction of new infrastructure or any changes to existing law.
RED has remained loyal to its green energy roots, making it easier for energy producers and users who desire to participate in CO2 offset.
Let’s take a look at the specific tokens that are used on the platform for the offset system.
The REO-G token is an ERC-721 token that allows energy producers to prove the origin of their energy. The token can be used to claim certificates of origin based on the energy that was produced within the previous 12 months. 1 REO-G represents the production of 1 MWh of renewable energy. It can be traded on the RED Exchange and transferred to other users on the RED Platform. REO-G can also be withdrawn to third-party exchanges and personal Ethereum wallets. It will function as a blockchain-based Guarantee of Origin for green energy, ensuring untampered traceability.
GTK is a unique ERC-20 token that tracks CO2 offsets. By purchasing 1 GTK, you are removing 1 ton of CO2 from the atmosphere, or the equivalent in other greenhouse gases. When a user makes a validated “claim,” RED mints GTK. It’s possible to share it with other RED Platform members. It can also be traded on the RED Exchange and withdrawn in Ethereum Wallets and third-party exchanges. As a blockchain-based CO2 offset monitoring system with untampered traceability, GTK can be used to prove your sustainability and carbon footprint.
The RED ecosystem is designed to let its users construct, trade, expand, and thrive in their projects, whatever they may be. We are convinced that assisting all parties in being successful in their respective trades will create a system that will support long-term growth. What makes us the happiest is that by working together, we can promote green energy consumption, reward green energy producers, boost CO2 offset, and contribute to energy democratization.
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