Every financial transaction has a climate consequence. By displaying the true cost of production or “price of carbon”, at the point of sale, consumers can clearly understand the environmental impact of the products and services they are buying and take action. Ecosphere+ has developed innovative solutions for consumers and retailers to facilitate this in various shop types and locations, on- and off-line.
Carbon pricing for retail
Putting a price on carbon puts a value on carbon emissions and use of carbon, and through this incentivises carbon reductions. Paying for the carbon we use and emit is like paying for repairs: it helps us address the damage caused by fossil fuels and unsustainable land use by making them more expensive – and therefore less attractive. Thus, the use of high carbon products and services decreases, while cleaner and more sustainable options become more viable.
Carbon credits (the equivalent of one tonne of CO2 reduced or removed from the atmosphere) can be used by companies and individuals as a way to reduce or rebalance the unavoidable impact of their choices and be incentivised to systemic change through understanding and paying the true price of carbon.
Ecosphere+ has partnered with Poseidon to develop a unique blockchain-based platform that transacts grams (rather than tonnes) of carbon credits through micro-transactions, allowing an effective integration with the retail sector. For the first-time consumers will be able to pay for the carbon that is attached to the products and services they buy at the point of sale, engaging them directly in climate action and forest protection.
Poseidon’s platform harnesses the power of blockchain technology to track and manage the entire carbon credit lifecycle and process transparently. It empowers everyone to address their carbon impact and enables true systemic change.
This innovative solution can be integrated into point of sale systems for retailers, both in-store and online, so that brands and/or customers can make any purchase positive for the climate by funding forest protection. Then, through the Poseidon app, customers can track the carbon impact of their purchases and the aggregated positive on-the-ground impact for forests, wildlife and communities.
For more detail on how this solution can be applied to your business, read the Poseidon White Paper, and contact us to find out more.