In our previous post, we looked at a carbon mitigation solution that has been pioneered by impactChoice. Specifically, we looked at a hotel industry use case and we looked at how this use can also be applied on a global scale on the Natural Asset Exchange. In this post we show how carbon mitigation solutions can also be applied in the events industry.
Events Use Case
impactChoice was tasked with making the 2015 Men’s World Squash Championships a Green, Energy Neutral event. True to their motto ‘Reduce What You Can — Mitigate the Rest’, impactChoice first set about finding ways to reduce all environmental impacts.
- Using the most green and energy friendly venues available
- Seeking accommodation that was within walking distance to the events
- Using energy efficient squash courts equipment
- Eliminating paper usage by utilizing digital media
Personalized Micro-emissions Mitigation Certificates
Once all carbon and environmentally impactful best practices were in place, all that was left was to mitigate the residual carbon usage at the event. impactChoice sourced certified carbon credits from the Kariba REDD+ Forestry Project in Zimbabwe. Then, similarly to the hospitality use case, participants and ticket holders at the event were issued personalized micro-emissions mitigation certificates based on calculated emissions related to the time they spent at the event.
The event received acclaim for reducing and mitigating the event’s environmental impact and the same techniques were subsequently also applied to make the 2017 PMI Bellevue Squash Classic an energy neutral event.
The beauty of this solution and key to its success is that instead of the event organizers paying for the carbon credits upfront, they are able to alleviate themselves of this financial burden by passing the cost of the natural asset to ticket holders at the time of ticket purchase. The certificates were sent out to the event goers and participants by email.
Implementation on the NAE
Just as with the hospitality use case, this solution can be applied directly to the NAE. So far these use cases have only been utilized on impactChoice’s internal blockchain ledger meaning that the solutions could only be offered to its clients. Making these solutions available on the NAE will mean that any company or organization can provide the same solution at events around the globe.
Event’s organizers that want to reduce and mitigate their environmental impact will no longer need to engage with middlemen to buy carbon assets and bare the upfront associated costs. Instead, they will be able to connect their event to the NAE and offer event goers that ability to mitigate their carbon footprint at the time they purchase tickets for the event.
New startups and businesses will be able to innovate and provide carbon asset management software solutions for companies and organizations that want to connect their systems to the NAE in a plug and play fashion to make the whole procedure seamless.
We have only covered two use cases for the carbon mitigation solutions that will be available on the NAE. Both of these use cases have been in use at impactChoice. We will be covering more use cases in our next posts. What is even more exciting to the EARTH Token team is that there are likely to be use cases for this technology that we have not even thought of. We are thrilled with anticipation to see what kind of new use cases the market finds for the carbon mitigation solutions that will be made available on the NAE.