A carbon credit is a financial instrument – a commodity – representing a reduction in greenhouse gas (GHG) emissions. One carbon credit represents the reduction of one metric ton of carbon dioxide, or its equivalent in another GHG. The worldwide carbon credit market exceeded $120 billion dollars in value in 2009, and explosive growth is anticipated into 2010 and beyond.
Every time a bike share ride is proven to have displaced a carbon-emitting mode of transportation a portion of a carbon credit is generated, and collected by CityRyde Inspire. Due to the stringent and all-inclusive measures Inspire ensures in its data point aggregation methodologies, bike share operators will be able to instantly turn the carbon credits generated from daily program operations into cash.
Funding a bike share program is a recurring barrier to entry. Creating an additional revenue stream through the sale of carbon offset credits via Inspire will help alleviate such a financial burden, and make bike sharing in most any deployment environment that much more realistic and sustainable.
Contact CityRyde now to learn more… for e.g., how Inspire could bring in close to $1,000,000.00 in carbon credits through a bike share program such as the Velib in Paris.
