IMPT is a brand-new project that is focused on capitalizing on the growth of ESG investing and the rise of cryptocurrencies.
The team hopes to be able to use cryptocurrencies as a medium for ensuring that carbon credits can be processed more efficiently and transparently, and by placing them on-chain they can open up a wider variety of use cases for them. Previously, carbon credits have only been applied to companies in order to change their habits, but with IMPT, they could be used to incentivize individuals to change their behaviors as well.
ESG makes it easier for companies that are “greener” to gain funding and harder for those companies that are a net pollutant.
Broadridge Financial Solutions estimates that by the year 2030, the total market cap of the ESG industry will have risen to $30 trillion, with the carbon credits market alone being valued at over $50 billion.
As well as recent additions such as River Island and Macy’s, the company has managed to onboard industry titans such as Netflix and Microsoft.
This means that whenever consumer shops with any of these companies (which are amongst the most ESG compliant in the world), they can be rewarded with IMPT that can then be redeemed for carbon credits.
By placing carbon credits on the blockchain, the entire ecosystem can be engineered to be far more transparent than anyone could have previously hoped for. Carbon credits can be traded 24/7 and in a far more efficient manner.