The “Metro Daduhui” application, the official app of Shanghai’s subway operator, has introduced a novel way for individuals to participate in carbon credit trading.
This innovative approach allows users to accrue carbon credits in real-time whenever they utilize their smartphones to swipe in at metro station turnstiles.
These earned carbon credits can subsequently be exchanged for digital yuan through the Icago app, thanks to a collaborative effort between Shentong and GreenEarth FinTech, a digital financing and low-carbon practice company located in Xuhui District.
The conversion of carbon credits to digital yuan is based on scientifically calculated metrics.
The “Metro Daduhui” app, functioning as a comprehensive carbon-inclusive platform featuring digital yuan payment capabilities, provides users with various methods to accumulate carbon credits.
These methods include activities such as walking, cycling, and even answering questions, all of which are rewarded with digital yuan.
Each user possesses an individual carbon account within the app, which keeps track of their carbon credit balance. Moreover, users of the Shanghai Public Transportation Card app can also engage in this eco-friendly initiative.
By swiping their NFC (Near Field Communication) public transportation cards using their smartphones when utilizing the subway or buses, they, too, can generate carbon credits, which can be exchanged for digital yuan.
The primary objective of this app is to encourage the adoption of a green and low-carbon lifestyle among the public. In doing so, it contributes to the overarching goal of achieving carbon peak and carbon neutrality.
China has set ambitious targets, aiming to reach its emissions peak before 2030 and attain carbon neutrality by 2060.
This initiative aligns with these environmental aspirations by providing an accessible and convenient way for individuals to actively participate in carbon credit trading while promoting sustainable and eco-conscious living.
