Introducing Earthlium, the new token that rewards environmentally friendly purchases

December 07 02:48 2021
Introducing Earthlium, the new token that rewards environmentally friendly purchases

London, United Kingdom – The launch of Earthlium, a pioneering new token that rewards users for their environmentally friendly purchases, is just around the corner. The token, which is set to launch in early 2022, is the first of its kind to harness the power of technology and financial incentives to encourage environmental accountability. For each purchase – be it a drink, a flight or a train ticket – the Earthlium platform will provide a score (known as the “Earth score”) indicating its environmental impact, and in turn, will reward users with Earthlium tokens for low impact transactions. These tokens can be exchanged for exclusive discounts with the platform’s partner brands, providing users with immediate utility value – a powerful financial incentive to shop green.

This new platform is set to disrupt the market for the better. The shift in demand towards greener brands is already underway and Earthlium is set to take it to the next level by making it both personally and financially rewarding for consumers.

What’s the problem?

In one recent survey by Harvard Business Review, 65% of consumers said they want to buy from purpose-driven brands that advocate sustainability, yet only about 26% actually do. This phenomenon is known amongst sustainability experts as the intention-action gap.

Tom Macpherson, co-founder, said: “It boils down to the age-old problem of actions speaking louder than words. People want to do the right thing on climate change and the environment, but find it hard to turn their good intentions into action. Earthlium can help consumers bridge this gap in a fun and rewarding way. We have been inspired by the way Costa Rica has harnessed the power of financial incentives. This small country has more than doubled its forest cover in the last 30 years and the driver behind this achievement is a financial compensation programme for citizens who plant trees. We want to take this ethos global.”

The solution

Earthlium will be the catalyst needed to incentivise the mass market ( and not just those who already care and act) to opt for greener and more sustainable brands. All this is made possible by the platform’s state-of-the-art algorithm which can scan multiple data points to provide an estimate for a brand’s environmental impact. This estimate is summarised in a single score, known as the Earth score. The score is bespoke to every brand and informs the number of tokens a user receives for a transaction. Members can redeem tokens with Earthlium’s partner brands to receive exclusive discounts on a range of exciting products and services. It’s a simple and effective model that provides a financial incentive for members to shop with green brands.

To maximise token rewards, members must first locate and then shop with the greenest brands. To assist members in finding such brands, they can consult Earthlium’s built-in search function. This function allows members to search and compare their favourite brands’ environmental credentials, thus informing their next purchase. As part of this process, members are also encouraged to submit their own views by uploading brand ratings – one of many factors that influences the Earth score. Over time, this scoring system will help build awareness of the brands doing great things and allow for “best practice brands” to be shared amongst members.

Tom Macpherson said: “Our users will rate businesses in real time, shining a light on those that are doing well, and those that could do better on the environment. It’s about building consensus so that, together, we can begin to accelerate the shift towards greener brands and put pressure on those that are lagging behind”.

Anyone can sign up for free and will start their Earthlium journey by connecting all their banking and credit card accounts – a very simple and secure process thanks to the innovation of Open Banking. Once connected, members can immediately see all of their transactions in one place, monitor their environmental impact and start earning rewards straight away. 

Carbon footprint

Earthlium recognises that every purchase has a carbon footprint, no matter how sustainable the transaction. That is why members will have the option to donate a portion of their tokens to Earthlium’s tree planting initiative, helping to offset their carbon footprint. The team has set a goal for Earthlium members to plant five million trees by the year 2030, equivalent to reforesting an area the size of Liechtenstein. Earthlium will also contribute a portion of their profits to the scheme to ensure they meet their commitment of remaining carbon negative.  

Looking to the future

The Earthlium team is dreaming big. Looking to the future, they want the Earthlium platform to become the number one tool to help people live greener lives. The Earthlium token is just the beginning of this exciting journey. Next on their list are plans for gamifying sustainability metrics to harness the power of social influence. They are also looking at options for analysing digital receipts for more accurate assessment of users’ shopping baskets, options for green investments, as well as other sustainability initiatives.

The app and token are due to go live in early 2022, however supporters should keep their eyes peeled for their Progressive Web App (PWA) which will launch in January as part of a beta testing phase. This will give early adopters a chance at earning considerable bonus tokens pre-launch. The good news – prospective users can sign up for early access and updates today at www.earthlium.com and can follow them by visiting Earthlium on facebook and Instagram

Media Contact
Company Name: Earthlium
Contact Person: Tom Macpherson
Email: Send Email
Phone: +44 20 8058 9714
Country: United Kingdom
Website: https://earthlium.com/

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