IMPT, a blockchain-based carbon-offsetting ecosystem, has launched the first version of its retail shopping platform, allowing socially responsible individuals to reduce their carbon footprint while shopping at leading global retail brands. The platform enables consumers to acquire and retire carbon credits while shopping at thousands of affiliate retail brands, including Nike, Amazon, and Samsung.
Why does it matter? The retail supply chains are responsible for 25% of global Greenhouse gas (GHG) emissions, according to the World Business Council for Sustainable Development. Clearly, the decarbonization of retail is crucial to combat climate change.
When users make purchases on the IMPT platform, a percentage of the total purchase price will be allocated to their account in the form of IMPT tokens. Consumers can use accumulated tokens to acquire carbon credits, which are provided as an NFT, and then allocate them to a range of environmental projects of their choice. This gives shoppers a direct stake in global sustainable development, enabling them to have a direct impact.
Denis Creighton, CEO of IMPT, stated that the company’s vision is to offer every member of society a simple, affordable, and efficient way to combat climate change.
He believes that the IMPT Impact Card will encourage friendly competition, enabling users to measure the impact of their everyday shopping decisions, challenge their friends and family to make positive choices for the planet, and track their progress one transaction at a time.
IMPT is built on blockchain, which adds a layer of security and transparency to the carbon credit market, and helps overcome the traditional problem of double-spending by ensuring that each carbon credit on the platform exists as a redeemable NFT.
According to a report from BloombergNEF, the carbon offset market is expected to be worth $1 trillion by 2037.
Users can access the IMPT platform by creating an account and connecting it to their wallet to generate and store IMPT tokens. Users can choose from one of 18 environmental carbon credit projects, allowing them to play a direct role in how their carbon emissions are offset.
“This is the next step in realizing our true vision for IMPT. We’re building a global network of people to play their part in combating climate change, simply by taking small actions in their everyday lives,” said Creighton.
With the launch of this platform, IMPT hopes to empower consumers to reduce their carbon footprint and make a positive impact on the planet. The platform is currently available on IMPT.io and Google Play, with an App Store version coming soon.