This week sees the launch of Carboncreditz, a new kind of green currency which will be the first of its kind to reward consumers for caring about climate change.
Carboncreditz will enable individuals to mitigate their carbon footprint and direct consumer and corporate revenues into proven carbon offset projects.
How will it work?
Similar in process to other loyalty schemes, consumers will be able to collect Carboncreditz for purchasing goods and services. From today, Carboncreditz can be earned from shopping with a host of online affiliates; including Tesco, Boots, John Lewis and Marks and Spencer, and ‘banked’ securely in a password protected online account at www.carboncreditz.org.
After registering on the site, individuals can calculate their personal carbon footprint and view the carbon offset projects they can invest in with the creditz they earn from their online shopping.
Carboncreditz and brands
A number of brands are currently in discussion with the company behind Carboncreditz, Grass Roots, over how they can use the currency for sales promotion activity.
Brand promotions will also be highlighted on the Carboncreditz website and brand owners will be given access to the redemption data.
Tony Bates, a Director at Carboncreditz, said, “Carboncreditz is a powerful and really effective way for brands to demonstrate their commitment to green issues to their customers.
“Working with Carboncreditz can help brands keep customers loyal – there’s increasing evidence that consumers are turning to and staying with those brands that demonstrate responsibility. This reward scheme will work with all types of products, from baked beans to cars, printed media and on-line shopping.”
The scheme is launched this week in the Independent newspaper, which is giving away to its readers, enough Carboncreditz to offset at least a half ton of carbon.
Carboncreditz can be redeemed or spent in the following ways:
• Against specified carbon offset projects in order to offset their own personal or household carbon footprint.
• Donated to schools and other community projects to help offset their carbon emissions.
• Against a wide range of energy-efficient goods, from wind-up torches and radios to refrigerators.
Carboncreditz is owned by Carboncreditz Ltd, a wholly-owned subsidiary of The Grass Roots Group PLC.
Grass Roots Group is a privately owned company with audited revenues in its latest fiscal of £284m, net assets of £25m and cash at bank of more that £50m. It has 28 years of experience of running reward programmes based on the collection of points or credits that can be redeemed or exchanged for goods and services.
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