Today’s announcement will enable Thallo to deliver high-quality carbon credits to IMPT’s unique platformthat connects cutting-edge retail brands with consumers aware of their social responsibilities and eager to reduce their carbon footprint.
London (January 16, 2023) – IMPT, a leading carbon offsetting ecosystem concluded a supply contract of up to 50 million euros buy carbon credits from the Thallo blockchain-based carbon credit market.
As part of this agreement, IMPT will purchase carbon credits with an expected value of €50 million over 10 years. At current market prices, the operation will offset approximately 12 million tonnes of carbon over a 10-year period, equal to the carbon footprint of nearly 2.6 million people worldwide.
Founded in 2022, IMPT is a global carbon offsetting ecosystem designed to connect leading retail and e-commerce brands with socially conscious individuals and businesses looking to reduce their carbon footprint.
Today’s agreement with Thallo represents an important step in the development of a platform that will allow members of the IMPT community to quickly and easily convert native IMPT token into carbon credits and allocate them to a whole series of environmental projects.
Commenting on the deal, Denis Creighton, chief executive of IMPT, said: “We are delighted to partner with Thallo to obtain high quality carbon credits for our protocol. We appreciate and share Thallo’s commitment to promoting transparency and integrity in the carbon credit market. There is a huge opportunity to move the Web3 and commercial industries towards low carbon solutions, but much work remains to be done. Putting these credits in the hands of our community is the next step in realizing our vision of building a global network of people who want to do their part in the fight against climate change by taking small actions in their daily lives. .“
The agreement includes an initial purchase of 3.6 million euros of carbon credits over 3 years and a memorandum of understanding for an extended partnership for a period of 10 years. Carbon credits purchased from Thallo’s diverse portfolio of project developers help reduce carbon emissions and fight climate change.
The remaining and unwithdrawn credits will be transferred to the Polygon blockchain via Thallo’s two-way gateway from existing carbon registries, including the BioCarbon registry in Colombia. Through this two-way gateway, companies and individuals can transfer credits on and off the blockchain, making it possible to buy, sell and withdraw credits with total transparency and traceability.
The partnership with IMPT represents the first use of the “Bridging-as-a-Service” offering. by Thallo, which allows Web3 companies to integrate carbon credits directly into their infrastructure, and helps Web2 companies in B2B2C contexts by enabling e-commerce customers to offset the impact of their purchase.
“Thalo’s revolutionary infrastructure enables volunteer carbon market innovators to access an ever-growing number of registries with a simple integration model,” said Ryan Gledhill, co-founder and CEO of Thallo.
“The Marketplace is one of the world’s most effective tools to combat climate change. IMPT’s innovative model is introducing a new wave of consumers to the marketplace and will continue to grow alongside Thallo as we upgrade more marketplace vendors in 2023 and beyond “.
About IMPT
The IMPT is a global carbon offsetting ecosystem designed to connect leading retail and e-commerce brands with socially responsible individuals and businesses seeking to reduce their carbon footprint. IMPT strives to demonstrate the true impact of Web3 by improving access and traceability in the carbon credit industry. Join the IMPT community on Chirping, Discord, YouTube or Telegram. For more information, visit www.impt.io.
About Tallo
Thallo uses a unique blockchain technology to revolutionize and democratize carbon markets by making it easier for buyers and sellers of high-quality carbon credits to match. Its team of veteran blockchain entrepreneurs and climate tech professionals combine technology expertise with in-depth knowledge of sustainability to build the carbon market of the future. Follow Thallo on Chirping and LinkedIn or join our Telegram group for updates. For more information, visit www.thallo.io.