 |
| RAZER launches carbon-neutral and traceable payment service |
Razer, the world's leading brand of gaming products, today launched Restorify, a dedicated e-commerce service from Razer Fintech, the company's financial technology arm.
Resuming Service A traceable carbon-neutral payment service launched by Razer during the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27), currently in Sharm El Sheikh, Egypt.
Restorify, available today at Razer.com, provides consumers with the ability to offset emissions associated with a purchase with traceable carbon credits, and helps companies calculate the carbon footprint of their products.
Carbon offset can be an effective intervention to reduce carbon dioxide emissions into the atmosphere. However, carbon balances are usually expressed in tons, and not every element is easily broken down. On this scale, carbon credits simply cannot be used to offset daily purchases.
Razer is addressing these challenges and more with its Restorify service and aims to support the OECD's $147 per ton vision by 2030 as the world aims to achieve net zero emissions by 2050.
The main reason for creating Restorify was to increase transparency and accountability in the carbon market, to make it easier for companies to offset their emissions while allowing consumers to be part of the solution.
Razer aims to achieve net zero emissions by 2030 and prioritize emissions reduction and recycling as part of its decarbonization journey. The company adopts a "life cycle thinking" approach, which means that it follows best practices to reduce emissions at key stages of a product's life cycle, from mineral sourcing, through manufacturing, transportation and the end of its life cycle.
“The product life cycle approach allows us to develop interventions to reduce emissions, but carbon credits will still play a role in the transition to net zero,” said Min-Liang Tan, Razer co-founder and CEO. On our journey to net zero, we realized that we had to take the pains of growing and that carbon credits are not equal. With Restorify, we hope our new approach to carbon credits will encourage greater accountability and transparency in carbon offset. "
For consumers: Restorify offers traceable, carbon-neutral payments
Restorify breaks down carbon credits during the checkout process to offer them in smaller denominations; This allows consumers to integrate CO2 compensation into their daily lives. Restorify aims to restore confidence in carbon offsets and provide customers with verifiable decarbonization effects by only allowing the use of traceable carbon offsets. In other words, while some competitors have committed to offsetting emissions in the future, consumers with Restorify can rest assured that the emissions associated with their purchases have already been offset.
Razer has initiated several carbon credit projects aimed at achieving the United Nations Sustainable Development Goals. To this end, Razer is partnering with a leading provider of energy and city solutions (GoNetZero), the ESGpedia platform, which collects end-to-end tracking data for high-quality end-to-end carbon credits, and the cloud computing platform (Amazon Internet Services).
Restorify's Trackable Carbon Free Shopping Cart allows consumers to see a product's carbon footprint so they can make an informed decision.
In addition, they can use carbon credits from verified carbon records at checkout to offset emissions associated with the products they buy. When purchasing carbon credits, consumers receive a certificate detailing the total amount of carbon emissions offset by the purchase, the type of projects the credits support, the country in which they are located, and the credential criteria. These individual, hashed transactions are recorded digitally in ESGpedia logs, where consumers can track their carbon offset efforts. The consumer climate protection market currently lacks this transparency.
Ongoing projects are also monitored and reported regularly to verify this and to ensure the safety of emissions allowances for consumers.
For business: Razer shares best practices
Razer believes that brands have a responsibility to disclose the carbon footprint of their products to consumers so that shoppers can consume responsibly. That's why Restorify uses a comprehensive product emissions calculation mechanism to help companies estimate their carbon footprint based on emissions throughout a product's life cycle.
The motivation for this service stems from the realization that some companies have no way of calculating the carbon footprint of their products, which is what Razer wanted to provide.
Restorify will also work with Razer's ECOLOGO partners, world leaders in UL safety science, to encourage and provide the opportunity for companies to measure the environmental impact of their products through ECOLOGO certification, a product's Environmental Statement Certification or carbon footprint verification. products.
Finally, the carbon-neutral Restorify service will be available for businesses to integrate with their existing platforms. Razer will work with partners across its supply chain, as well as the more than 50,000 retailers in the Razer Fintech network, to support their transition to net zero emissions. The AWS cloud platform will also allow Razer to offer Restorify to more than 100,000 partners in 150 countries.
“By committing to supplying all AWS regions around the world with 100% renewable energy by 2025, AWS is committed to being the most sustainable cloud platform in the world,” said Conor McNamara, CEO of Amazon Web Services at ASEAN. This commitment, combined with the depth and breadth of AWS' premium data services, makes AWS an ideal partner for Razer as they begin this exciting new chapter. This collaboration supports the development and transition of Restorify, Razer's innovative CO2 tracking service; It will bring long-term benefits to Razer's business, its customers, and the environment. "