Carbon Offset and Renewable Energy Leader Introduces Digital Asset with Terrapass Coin
September 02 2021 - 11:19AM
Terrapass, a leader in carbon offset and renewable energy solutions
and a member of the Just Energy Group, is excited to announce
Terrapass Coin (TPSC), a digital asset that works as an ERC-20
token on the Ethereum blockchain system. With Terrapass Coin,
customers can own, buy, sell, trade, or offset their carbon
footprint by managing their TPSCs received through designated
Terrapass products, giving them control of their carbon offsets
like never before.
How it Works
Terrapass has created and published a Terrapass Coin Standard,
available on its website. Having allotted a set amount of carbon
offset inventory that meets the Standard, Terrapass has minted one
Terrapass Coin for every metric ton (mT) of carbon offsets reserved
for TPSC products. As customers purchase offsets from designated
TPSC products, customers will also receive one TPSC for every mT of
carbon offsets they buy. The TPSCs are transferred to a customer’s
digital wallet, on a quarterly basis, giving them the option to
hold, gift, trade, or use TPSCs to offset their own carbon
footprint as they see fit. The environmental benefit from one mT of
carbon offsets is equivalent to avoiding over 2,500 miles of
driving.
“Modernization of the carbon offset transaction is an important
step in how consumers address their carbon footprint,” says Sam
Telleen, Senior Director and General Manager of Terrapass.
“Customers want more control over the carbon offsets they purchase
in addition to a better connection with the projects they support.
By expanding our product offerings with blockchain solutions
through TPSCs, we provide customers a new way to buy, sell, trade,
and use carbon offsets from verified projects when and how they
choose.”
With Terrapass, consumers have always had the ability to make a
positive impact on the environment with confidence thanks to
Terrapass’ sustainability products and third party verification. By
creating a one-to-one relationship between every mT of carbon
offsets and this new digital blockchain offering, customers gain a
new level of control in determining the use of TPSCs earned from
their environmental product purchases.
“With the recent IPCC Report highlighting the urgency for
immediate and meaningful change, the importance of reducing the
impact of carbon emissions cannot be overstated,” adds Telleen. “By
introducing more product innovations in the sustainability sector,
Terrapass aims to drive more investment into carbon reduction
projects and provide additional ways for everyday consumers to
participate more directly. With increasing focus on environmental,
social, and governance (ESG) considerations, Terrapass provides a
way for customers large and small to meet their sustainability
goals.”
About Terrapass
Terrapass, a member of Just Energy Group Inc.,
works towards a more sustainable planet by pursuing solutions to
climate change. We support projects throughout North America
and the world that remove greenhouse gases, produce renewable
energy and restore freshwater ecosystems. Our products and services
provide individuals and businesses with the ability to reduce the
environmental impact of their everyday activities. Learn more
at terrapass.com.
About Just Energy Group
Inc.
Just Energy is a retail energy provider specializing in
electricity and natural gas commodities and bringing energy
efficient solutions, carbon offsets and renewable energy options to
customers. Currently operating in the United States and Canada,
Just Energy serves residential and commercial customers. Just
Energy is the parent company of Amigo Energy, Filter Group Inc.,
Hudson Energy, Interactive Energy Group, Tara Energy, and
terrapass. Visit https://investors.justenergy.com to
learn more.
Media Contacts:
MediaBoyd ErmanLongview Communications and
Public AffairsPhone: 416-523-5885berman@longviewcomms.ca
Terrapass Sam Telleenpr@terrapass.com
Source: Just Energy Group Inc.
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