IMPT is an ecosystem to provide a mechanism where communities and corporates can get involved regionally in a global movement to mitigate individual and collective carbon footprint.
A carbon credit is an intervention to mitigate a tonne of CO2 placed in the atmosphere by industry, government policy or ordinary citizens.
These interventions can be forestation projects, reforestation, avoiding deforestation, carbon sequestration, interventions in agriculture like building anaerobic digesters, rewetting peat lands, sequestering CO2 in concrete works.
The approval and monitoring of these projects in governed by UN guidelines and is certified by accredited agencies for a given number of tonnes of CO2, therefore entitled to sell that number of carbon credits. That part of the system has been working for a number of years and the accreditation process is stringent and controlled.
However, what is not working in all cases is the market for these carbon credits. The lack of control is leading to the same carbon credits being sold more than once, or not being retired,so that they cannot be sold more than once.
Our project aims to use AI technologies and to tokenise all carbon credits so they can be recorded on the blockchain and thereby provide a unique record for each individual carbon credit, rather than the current system which records a category or project but does not prevent duplication or other market abuse.
This is an Irish developed project and operational with global reach. We continue to supply the market for consumer interventions, partnering with 20,000 retailers and 4M hotels. Wealso offer a B2B SAAS model which allows corporates to partake in the schem
