Retail Supplier Introduces Digital Asset (Blockchain Coin) Allowing Customers To Sell, Trade Purchased Carbon Offsets

Terrapass, a provider of carbon offset and renewable energy solutions owned by Just Energy Group, announced Terrapass Coin (TPSC), described as, "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," Just Energy said

"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," Just Energy said

"Modernization of the carbon offset transaction is an important step in how consumers address their carbon footprint," said 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."

"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," Just Energy said