How do TerraQuest Carbon Challenges work?
1. Create a carbon challenge
2. Users record track miles
3. Claim carbon offsets
Climate change has been called the number one threat to global security, the global economy, humanity, animals, and the earth.
To avert climate disaster, we have to drastically reduce annual carbon emissions using various methods ranging from technological moonshots to buying carbon credits to taking practical steps in our everyday lives. There is no one-shot fix, and the clock is ticking. TerraQuest’s approach is to cultivate a tribe of people committed to combating climate change by powering carbon credit challenges. For example, an organization looking to take decisive action on sustainable tourism could create a 1-million-mile challenge in exchange for 10,000 carbon credits, or 10,000 tonnes of carbon reduction. Anyone who records tracks while moving under their own power within a challenge area zone could contribute miles to the challenge goal. Organizations run their challenges in the TerraQuest app by paying a program fee to create and host carbon credit challenges in addition to the price of the carbon credits.
To start, TerraQuest’s carbon credit challenges will utilize UPCO2 tokens, which were specifically created to democratize carbon credits. UPCO2 is a stable coin backed 1:1 by a Voluntary Carbon Unit, a digital certificate issued by the international standards agency, Verra, which enables certified projects to turn their greenhouse gas reductions into tradable carbon credits. We choose to partner with UPCO2 because it’s the first tradable carbon token that harnesses blockchain and Verra to record token transactions tied to legitimate projects. TerraQuest harnesses this power to send users carbon credit transaction receipts in exchange for their recorded miles.
Our goal is to partner with organizations who aim to take decisive action against climate change now by creating carbon credit challenges powered by TerraQuest.
We’re happy to talk with you about how you can set up a carbon credit challenge for your city, company, or community.
Join the effort. Schedule an appointment. Let’s do this!