by Jessica Bronesky
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TerraPass makes traffic jams jealous. |
In its quest to create a business solution for a social problem, Benven LLC has created a new product that lets individuals counteract the consequences of their cars carbon dioxide (CO2) emissions. TerraPass is being touted as the simplest and most efficient way for citizens to help combat the global warming caused by CO2 emissions through the greenhouse effect. TerraPass is not a device, but a service -- by purchasing a TerraPass for their cars, environmentally-conscious consumers can collectively finance projects that reduce industrial CO2 emissions, offsetting their own contribution to global warming.
TerraPass was initially created as a project for a course on operations management taught by Professor Karl Ulrich in the MBA program at The Wharton School at the University of Pennsylvania. The students, all MBA candidates with diverse backgrounds, worked in teams to launch TerraPass in less than 6 weeks. "Effectively, TerraPass tips the economic balance in favor of efficiency and renewable-energy projects that otherwise arent viable," says Prof. Ulrich. Now, the power of these market-based mechanisms to effect environmental change - with proven record in reducing industrial pollutants - is available to individuals.
Heres how it works:
- Your car emits carbon dioxide as a byproduct of its internal combustion engine burning the fossil-fuel derived gasoline or diesel. It emits a lot. In one year, the equivalent to three times its own weight, give or take, is spewed from the tailpipe, right into the atmosphere that we breathe every day.
- You enroll in TerraPass, at the level determined by how efficient your car of choice happens to be: if you own a hybrid, you pay less than if you own an SUV, because your car produces less and so you have less CO2 to offset.
- Your money gets pooled with other TerraPass members, and finances projects that reduce industrial CO2 emissions. Current offset methods include buying carbon credits on the Chicago Climate Exchange, a commodities organization whose members are committed to reducing greenhouse emissions. Benven then "retires" those credits, making that capital available to purchase more energy-efficient equipment, for example, or to switch to renewable energy sources. Exchange members include Ford Motor Co., International Paper Co. and IBM. Benven will use a variety of fulfillment mechanisms including direct funding of renewable energy projects.
- Your TerraPass purchase is third-party certified to eliminate the equivalent of your cars carbon emissions over the period of one year, thus helping to improve and sustain the environment for all future generations.
- You receive a TerraPass window decal, membership card, bumper sticker and convenience sticker. You adhere them to your car to let everyone else on the road know that you have the eco-savvy and consideration to offset your cars emissions. People who see you on the road, proudly piloting your carbon-neutral machine, will first be curious and then jealous of your distinction, and will want to go get their own. They will, and the cycle starts anew. Its a piece of cake.
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TerraPass: much cooler than that "Baby on Board" sticker in your window. |
TerraPass is a great way for drivers to offset emissions from driving, says Michael Northrup, Program Officer for the Sustainable Development Program at the Rockefeller Brothers Fund. TerraPasses are available for purchase now at prices ranging from $29.95 for hybrid vehicles to $79.95 for SUV and utility vehicles. Benven employees think of TerraPass not just as a product, but as part of a socially responsible lifestyle. Their hope is that in seeing members TerraPass stickers, other drivers will be encouraged to join the TerraPass community, which increases its overall effectiveness and social power. By purchasing in large quantities, Benven obtains carbon offsets at reasonable prices and reduces the available pool of CO2 emissions for industrial companies.
Ideally, we would just convince people to drive less. But we know people love their cars, and that we cant get them to stop driving altogether. Our solution is one that doesnt require a major change in behavior, but that makes a huge difference to the environment, says Tom Arnold, TerraPass sales manager. For each TerraPass sold, Benven purchases the equivalent amount of carbon dioxide offsets from several sources, such as renewable energy companies or carbon instruments on the Chicago Climate Exchange. In turn, participating companies reduce their CO2 emissions and shift towards environmental friendly methods or renewable sources of energy. This mechanism is verifiable and results in exactly counterbalancing the CO2 emissions of car drivers.
One question the TerraPass team has been hearing frequently is: How they are going to reach the drivers that need their product most -- the owners of gas guzzling vehicles like Hummers and other SUVs? Their response is frank: "The people our product initially appeals to are not going to be these drivers. The message we are trying to send is that you should take responsibility for the pollution that results from your driving, and we are empowering individuals to do this," says Arnold. "As the TerraPass membership grows, we hope that owners of high polluting vehicles will take note and feel compelled to do their part."
Jessica Bronesky is a proud TerraPass member and part of the Benven PR team. Find out more about the company at terrapass.com.
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