Current and Triangle Digital Launch First-Ever Zero-Emission Mile Credit to Offset Scope 3 Emissions
The new digital asset is a powerful option for corporations to reduce their Scope 3 emissions—the indirect greenhouse gases generated across a company’s value chain—with minimal investment in physical infrastructure.
“Over the past two decades, businesses have successfully met their Scope 2 goals by contracting with renewable energy producers in the form of Renewable Energy Credits (RECs). The Zero-Emission Mile is the first ever over-the-road equivalent to address Scope 3 for transportation,” said Pip Decker, CEO of Current.
Current will pledge its next one million zero-emission miles, delivered through its Vehicle-as-a-Service platform, to Triangle Digital to inaugurate the new asset class.
Rather than building and managing their own EV fleets, companies can now purchase digital ZEM credits, issued and tracked by Triangle Digital, to meet sustainability goals. Through this partnership, companies can now track, sort, and report emission reductions on a per-mile basis, offering a comprehensive solution to compliance and sustainability reporting. Additionally, companies can record these assets on their balance sheets as carbon credits until they retire them for compliance, where the value may appreciate and potentially serve as a profit center.
“The launch of the Zero-Emission Mile credit, as a Real-World Asset (RWA), is a verifiable way to accurately track and monetize emissions. By creating these assets, Triangle allows the asset to be held at a Qualified Custodian, and banked, or allows for the successful monetization of the ZEM. This enables enterprise clients that are seeking to bridge their carbon gap using ZEMs. The combination of the emissions value and the total cost of ownership benefit for EV operators is very appealing and is why we expect this market to significantly scale,” said Darren Wolfberg, Co-Founder and CEO at Triangle Digital. “Current bridges the divide between those that want to stay on the path to sustainability while rolling up their sleeves and putting zero-emission vehicle assets on the road.”
Verified road decarbonization is a critical component in the value chain. Current and Triangle are working together to build this emerging market by focusing on transparency and point-of-origin tracking through a credible, tradeable product.
Media Contacts:
Current
Christian Wolan
wolan@currenttrucking.com
Triangle Digital
Darren Wolfberg
darren@triangle.digital
About Current:
Based in Morristown, New Jersey, Current provides comprehensive commercial EV solutions, including vehicle electrification, charging infrastructure, utility coordination, and financial solutions. With a mission to simplify the transition to sustainable transportation, Current is empowering businesses across North America with end-to-end electrification services.
About Triangle Digital:
Triangle Digital has built a big data, web3 finance platform that specializes in carbon metering, verification, and tokenization technologies, enabling Carbon investment, regulatory compliance, and decentralized environmental finance solutions. By creating carbon credits as regulated financial instruments, these assets can be added to the balance sheet, used for collateral, for lending and structured products, increasing the velocity of the asset class. Triangle is committed to improving trust and quality across global markets and products with respect to sustainability.
Christian Wolan
Current
wolan@currenttrucking.com
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