Today is Earth Day and provenance company Everledger backed by China’s Tencent, announced a carbon offsetting platform for the diamond industry using emissions data recorded by the blockchain. The solution is being launched for India and US-based Shairu & Atit Diamonds, which will provide its customers with environmental impact information about every diamond.
Carbon offsetting is a mechanism where companies invest in environmental projects and purchase carbon credits to match their emissions from production. Everledger has partnered with Carbon Fund for its validated carbon offsetting program. Currently, Everledger is helping diamond miners, brands, and retailers to increase transparency in diamond supply chains.
“Through the Everledger platform, we can now enable our partners to not only allow efficient tracking and reporting of Greenhouse Gas Emissions, but also provide the certifications that verify energy efficiency and renewable sourcing efforts,” said Carrie George, VP and Head of Sustainability at Everledger. “We are directly linking the measurement to the solutions they are looking for to offset the remainder of their climate footprint.”
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