KlimaDAO, Fly Air Partner for Jet Carbon Offsetting
KlimaDAO and Fly Air have partnered to launch a first-of-its-kind, fully automated carbon offsetting solution for chartered jet services.
The partnership will make it possible to automatically figure out the carbon emissions of flights based on the type of jet used and the distance travelled. This information will be utilised by the platform to ensure that sufficient compensatory measures are taken by Fly Air on behalf of its customers to mitigate the impact of carbon emissions.
The partnership will facilitate instantaneous offsetting of carbon credits via KlimaDAO, which is built on top of the public blockchain Polygon, meaning that the carbon credits that are retired are fully traceable and verifiable, including the amount, type and vintage year of the credits used.
Today, the digital carbon market contains nearly 25 million carbon credits that can be used by projects seeking to offset their carbon emissions efficiently and transparently.
Through the development and implementation of a carbon offsetting strategy, Fly Air and its customers will be supporting the development of projects within the market that are undertaking high-impact sustainability work that can protect and regenerate vulnerable ecosystems and decarbonise the economy.
The airline industry is a highly carbon-intensive industry that faces unique challenges on its journey towards Net Zero status. Technologies such as airframe enhancements, sustainable aviation fuels, batteries, and hydrogen combustion engines do not yet have the scale or maturity to viably decarbonise the entire industry.
Carbon offsetting is a mechanism to compensate for carbon emissions in the medium term as alternative, zero-carbon solutions mature. Ensuring that transparent, traceable carbon offsetting is executed is key to ensuring consumer confidence in the chosen compensatory measures is maintained.
Source: GLOBE NEWSWIRE