SCOTCOIN LAUNCHES CARBON OFFSETTING SERVICE
The Scotcoin Project Community Interest Company (CIC) has launched Scotcoin Carbon Offset, a new carbon initiative allowing individuals and businesses to offset their carbon footprint and support the drive to net zero.
A unique proposition in the cryptocurrency market, the initiative will encourage Scottish companies and citizens to offset their carbon by providing a discount to those who pay with Scotcoin (SCOT), while also accepting payments in pounds sterling.
Individuals can purchase a single tonne of carbon for as little as £20 through different packages available through Scotcoin Carbon Offset – 10 tonnes would cover the average carbon consumption for a person each year. Businesses can get in touch with the Scotcoin Project to talk about their specific needs.
One tonne of carbon is equal to the carbon consumption of sending 25,000 emails2, drinking 1,818 lattes3, or driving 5,555 kilometres in a petrol car3. Scotland is aiming to reach net zero emissions by 2045, with the latest figures available from the Scottish Government showing that Scotland’s total carbon footprint reached 70.4 million tonnes of carbon dioxide equivalent (CO2e) during 2018 – up 2.6% on the previous year but down nearly one-third on 19981.
Earlier this year the Scotcoin Project CIC achieved carbon neutral status by offsetting 100 tonnes of CO2e through investment in a project delivered by the United Nations Framework Convention on Climate Change (UNFCCC) Adaption Fund, which seeks to reduce the emissions of harmful greenhouse gases.
Scotcoin is believed to be the world’s only purpose-driven cryptocurrency, with environmental and social aims at its core. Its CIC seeks to use the cryptocurrency as a force for good, supporting a range of charitable and environmental projects that boost Scotland’s ambitions for a greener and fairer society.
Temple Melville (pictured above), CEO of the Scotcoin Project CIC, said: “We are using cryptocurrency in a unique way to help Scottish people and businesses make their contribution to the country achieving net zero. While offsetting is not the only answer, carbon emissions are an inevitable result of many of the things people do in day-to-day life and in the way businesses operate.
It’s not possible to cut all of that out altogether, but it can at least be offset and we believe crypto can play an important role in making that happen.”
He added: We have the flexibility to sell single tonne quantities, which means even individuals can offset what they produce in a year through activities like sending emails or drinking coffee if they want to proactively do more for the planet. The climate crisis remains the biggest challenge society faces and we hope that our carbon initiative, via Scotcoin Carbon Offset, will incentivise more people and businesses to do as much as they can to help us reach net zero.”
