June 21, 2005
TerraPass
I just came across an article about a new environmental venture coming out of Wharton, called TerraPass. Get this, they allow their custoners to use their pocketbooks to offset the greenhouse gasses emitted by their vehicles annually.
It is essentially a fund that donates its money to projects that will reduce greenhouse emissions. By tracking the effectiveness of the donations as pounds of CO2 eliminated, the company is able to put a price tag on greenhouse gas emissions. A customer can contribute to the fund by purchasing a voucher for the expected pounds of CO2 released by their vehicle in a year (based on gasoline comsumption), and resonably consider that amount removed from the atmosphere. In a crazy accounting sort of way, their car has no global warming impact.
This is the coolest idea I've seen all day. So whatever I said before, there might be the occasional useful idea coming out of business school (I'm still skeptical, since this is a for-profit venture, and am reserving judgement).
I'm damned tempted to purchase a TerraPass for the Jeep, and I'm a poor, unemployed, pseudo-gradstudent. Think that any millionaire H2-owners are considering it?
heard about that a couple of months ago. i agree it's pretty neat, although i still think the green power certificates (on which the idea must be based) are slightly cooler.
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