Business Wire

Poseidon Foundation Launches First Retail Platform That Allows Consumers to Support Climate Action Using Blockchain Technology

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The world’s first retail platform that connects consumers to their own carbon footprint has been launched in London by non-profit ogranisation the Poseidon Foundation (“Poseidon”). Poseidon’s platform uses blockchain technology to integrate carbon markets into transactions at the point-of-sale, giving retailers and their customers the opportunity to support forestry conservation projects around the world when they buy and sell everyday items, and in turn support action on climate change.

The retail platform launched on 1st May, and a pilot is currently underway at Ben & Jerry’s newest ice cream Scoop Shop in Wardour Street, London. For every scoop of ice cream sold the values-led ice cream company is contributing towards carbon credits from a forest conservation project in Peru, and is offering their customers the opportunity to join them in taking action at the point of sale, using blockchain technology. Ben & Jerry’s has been vocal for many years on the issue of climate justice, including their global Save our Swirled campaign ahead of the Paris COP in 2015 and they have taken a number of steps within their own business to reduce their emissions, including a self-imposed carbon tax.

Speaking about the launch of the pilot, Laszlo Giricz, Founder and CEO of Poseidon said:

“We are thrilled to see our pilot with Ben & Jerry’s fully operational, giving consumers for the first time the opportunity to rebalance their own carbon footprint – and rebalance the carbon concentration in the atmosphere in the process. While this is just one small pilot, the technology is now proven and can be fully scaled and integrated, giving everyone the opportunity to understand their own carbon impact and take action. In just three weeks, we have already protected over 1,000 trees via the London store, equivalent to an area the size of 77 tennis courts, which is very encouraging and shows the potential for the platform to drive behaviour change once widely adopted.”

Chris Gale, Head of Ben & Jerry’s Social Mission Europe, commented:

“We have got a long way to go within our own business to reduce our reliance on fossil fuels but we have also made some big commitments and want to be transparent about our impact. At the same time, we want to use every part of our business to support a transition to a low carbon economy, including putting an internal price on carbon and setting ourselves ambitious targets to reduce our absolute carbon emissions by 80% by 2020. We are excited by the opportunity Poseidon Foundation’s new technology brings as an approach that connects fans to climate action.”

All of the carbon credits on the Poseidon Platform will be sourced from Ecosphere+, a B Corp. As part of the Althelia Climate Fund, Ecosphere+ has direct access to the largest portfolio of forest conservation projects in the world. The first project supported by users of the Poseidon platform, the Cordillera Azul National Park, sits at the intersection of the Andes mountain range and the Amazon basin in Peru and is home to around 6,000 plant species, 11 endangered large mammals and numerous indigenous populations

-ENDS-

About Poseidon

Poseidon is a non-profit foundation that empowers individuals to offset the carbon impact of their lifestyle choices with a breakthrough approach. Using blockchain technology, it integrates carbon markets into everyday retail transactions at the point-of-sale and allows users to track the positive impact of their transactions on individual forest conservation projects. This will transform people’s relationship to their carbon footprint, encourage vital behavior change and unlock the considerable growth potential of carbon markets to effectively address climate change.

To find out more about Poseidon - https://poseidon.eco/

About Ben & Jerry’s

Ben & Jerry’s has been making great ice cream since the company was founded by school friends Ben Cohen and Jerry Greenfield, back in 1978. Their aim is (and always has been!) to make the best possible ice cream, in the nicest possible way.

Climate change is real. It’s happening now. For Ben & Jerry’s, it's not just about polar bears and ice sheets, it’s about people and it’s an issue of economic and social justice. We need urgent action to reduce our global economy’s dependence on fossil fuels, as well as ways to transition towards a low carbon future.

More on Ben & Jerry’s commitment to climate justice - https://www.benjerry.com/values/issues-we-care-about/climate-justice

More on Ben & Jerry’s social impact - https://www.benjerry.com/about-us/sear-reports

About Ecosphere+

Ecosphere+ is a certified B Corporation helping companies create and implement nature-based solutions that enable them to succeed in a world aligned with global climate and development goals. As part of the impact investment Althelia Climate Fund, Ecosphere+ brings to market the largest portfolio of forest conservation projects in the world, generating verified carbon credits and measurable sustainable development impacts. These carbon credits are part of a growing natural asset class at least as important as renewables in the fight to slow climate change by reducing carbon dioxide emissions, and vital to achieving the Paris Agreement goals.

More about Ecosphere+ - https://www.ecosphere.plus/

Contact information

Poseidon Foundation
Edward Jones-Davies
e.jones-davies@hawthornadvisors.com
02037454977

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