February 13, 2023: Vancouver, BC – ShiftCarbon (formerly Tracesafe) (CSE: SHFT | OTCPINK: SHIFF) (the “Company”), a global leader in the Internet of Things (IoT) platforms and an innovator in end-to-end decarbonization solutions, is pleased to announce its Offset platform now includes Carbon Transparency Hub, a feature that allows companies to securely display their climate impact to their customers and stakeholders.
The Carbon Transparency Hub is a powerful tool within ShiftCarbon Offset that enables clients to build their own custom mini-sites for climate reporting. This feature is designed to allow clients to showcase their offset certificates, retired credits, Sustainable Development Goals, and supported offset projects to their customers, investors, and regulators. By using the Carbon Transparency Hub, clients can demonstrate their commitment to sustainability and environmental responsibility, and communicate the impact of their offset efforts, while highlighting the importance of the verifiability and accessibility of the purchased carbon offset certificates.
“At ShiftCarbon, we understand the importance of transparency and accountability in the fight against climate change,” said Qayyum Rajan, Head of Carbon Products at ShiftCarbon. “Our new Carbon Transparency Hub empowers companies to take the first step in their climate impact reporting. We believe this feature will encourage companies to double down on their commitment to sustainability and environmental responsibility.”
A study by Institute for Sustainable Finance highlights the incomplete state of the current climate-related risk disclosures by Canadian companies, which, the study suggests, “impedes the ability of financial institutions to properly price the opportunities and risks associated with climate change [and] presents significant consequences for Canadian competitiveness, the functioning of Canadian markets, and the fight against climate change.”
The new Carbon Transparency Hub addresses a few key areas of improvement as suggested by the Institute for Sustainable Finance, specifically the new feature allows customers to improve the breadth and accessibility of their climate impact reporting. ShiftCarbon Measure already guides customers through the steps necessary to conform with the global climate reporting frameworks, while ShiftCarbon Offset directly addresses the quality concerns when it comes to carbon credit verifiability and authenticity. Existing ShiftCarbon users can try the new feature by logging into their ShiftCarbon Offset portal.
Shiftcarbon provides an innovative platform for carbon accounting, offsets, and MRV (Measurement, Reporting and Verification) automation. Businesses can use Shiftcarbon Measure to view a complete picture of their carbon emissions, without the need to hire external consultants or use manual calculations. Shiftcarbon Offset provides enterprises with powerful APIs that allow customers to embed carbon offsets into their business. Find more details on www.shiftcarbon.io.
ShiftCarbon also operates TraceSafe, a leading IoT cloud platform. The solution uses sensor technology to deliver precise and timely information, powering safer and smarter enterprise environments. With a presence across North America, Asia and Europe, TraceSafe is trusted by leading organizations in healthcare, hospitality, construction, events, education, and government. Find more details on www.tracesafe.io.
The Canadian Securities Exchange has in no way approved or disapproved the contents of this news release. Statements in this news release may contain forward-looking statements that are based on ShiftCarbon’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to expectations regarding the ShiftCarbon assets and their application, future business plans and relationships, future developments in respect of carbon and climate risks and solutions adopted in response to climate change, and the deployment and acceptance of the ShiftCarbon technology. Although ShiftCarbon believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including the suitability of our products to help businesses and governments respond to climate change and impact of carbon emissions and government responses thereto and general economic and market conditions. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and ShiftCarbon undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.