You know by now that Urbaniqe is a green fleet management solution, meaning that in addition to regular fleet management features, we designed our app to help you lower and offset your CO2 emissions related to your fleet. You also know that the offset part is an in-app purchase function that allows you to buy carbon credits from the Voluntary Carbon Market with a tap of a finger. As the VCM is quite a new concept, and there is some misinformation out there about it, you may have concerns of your own, regarding decarbonizing your fleet with Urbaniqe. In this post, our aim is to answer your most frequently asked questions.
Okay, so how does it work, really?
Urbaniqe determines the CO2 emissions to offset based on the amount and type of fuel consumed you manually enter to the application. (Soon we’ll make offsetting available on the basis of the real CO2 emissions of your fleet.)
When you click on the little green leaf next to the fuel slip in the app, you can buy carbon credits from the stock Urbaniqe purchased previously from the Voluntary Carbon Market.
As you may already know, 1 carbon credit represents 1 tonne of CO2 - or the equivalent amount of a different greenhouse gas - reduced, removed or avoided. One of Urbaniqe’s key features is the flexibility it offers for its users to buy smaller quantities, according to their needs.
Not all carbon credits are equal. They differ in quality and price. Which project did Urbaniqe purchase their carbon credits from?
The carbon credits available in Urbaniqe app originate from a hydropower project called Yangcun Hydropower Station Project, in China. The carbon credits supplied by this seller are verified by TUV Nord, one of the largest global audit and verification companies. By clicking on the link above you can also see that Urbaniqe (Emprovia Zrt.) purchased the underlying credits on the 31st May 2023.
So, when you decarbonize your emissions in the Urbaniqe app, you are using carbon credits that represent the amount of CO2 removed – as the electricity produced by a hydroplant is emissions-free compared to, for example, a coal power plant.
Will buying carbon credits solve the climate crisis?
No. Reducing greenhouse gas emissions is the only real solution to global warming. The role of carbon credits is to offer a temporary carbon-free solution during the transition period, until urban mobility becomes totally emission-free (that is also called net-zero).
There is an increased expectation towards companies to improve their ESG metrics, and purchasing carbon credits to offset their emissions can be a good opportunity for them. However, due to growing interest, the price of carbon credits is increasing. Therefore, in the long run, we will still need to find systemic sustainable solutions to reduce CO2 and other greenhouse gas emissions. Carbon credits can only buy companies a little time, while they are also financing forward-thinking green projects.
Hopefully, your most pressing questions were answered above, but please don't hesitate to reach out to us in case you have any more. We love to discuss all things related to decarbonizing transportation!