Restorify is a specialized e-commerce service introduced by Razer Fintech, the company's financial technology arm. Restorify is today launched by Razer, the world's leading gaming product brand.
Enhance service;It is a discernible, carbon-nonpartisan installment administration sent off by Razer during the 27th Gathering of the Gatherings to the Unified Countries System Show on Environmental Change (COP27) as of now being held in Sharm El Sheik, Egypt.
Available at Razer.com starting today, Restorify offers consumers the opportunity to offset emissions related to their purchases with traceable carbon credits, and helps companies calculate the carbon footprint of their products.
Carbon offsetting is potentially one of the effective interventions used to reduce carbon emissions to the atmosphere. However, carbon credits are usually denominated in metric tons, and each is not easily divisible. At such a scale, carbon credits cannot easily be used to offset daily purchases.
Razer addresses these challenges and more with its Restorify service, and seeks to support the OECD's vision of $147 per ton by 2030, as the world hopes to reach net zero emissions by 2050.
The main drivers behind the creation of Restorify are to promote greater transparency and accountability in the carbon market, to make it easier for companies to compensate for their emissions, while empowering consumers to be part of the solution.
Razer strives to reach net zero emissions by 2030 and has prioritized reducing emissions and recycling in its decarbonization journey. The company has adopted a “lifecycle thinking” approach, which means that it follows best practices to reduce emissions across key stages of the lifecycle of its products, from supply of metals to manufacturing, transportation and through to the end of their life.
“A product life cycle approach allows us to develop interventions that reduce emissions, but carbon credits will still have a role to play in the transition to net zero,” said Min-Liang Tan, Razer Co-Founder and CEO. In our journey to net zero emissions, we have come to realize that growth pains have to be taken and that not all carbon credits are created equal. And with Restorify, we hope our new approach to carbon credits will promote greater accountability and transparency in carbon offsets.”
For consumers: Restorify offers a traceable, carbon-neutral payment service
Restorify breaks down carbon credits during the checkout process so that they can be made available in smaller denominations; This allows consumers to make carbon offsets a part of their daily lives. Restorify aims to rebuild confidence in carbon offsets by allowing only traceable offsets to be used, with verifiable decarbonization effects for customers. In other words, while some competitors promise to offset emissions in the future, with Restorify consumers can rest assured that emissions related to their purchases have already been offset.
Razer has begun organizing a variety of carbon credits projects that aspire to achieve the United Nations Sustainable Development Goals. To do this, Razer works closely with partners such as the leading energy and urban solutions provider (GoNetZero), the ESGpedia platform that can aggregate end-to-end traceable data for high-quality end-to-end carbon credits, and the computing platform Cloud (Amazon Web Services).
Restorify's traceable, carbon-neutral shopping cart will allow consumers to view a product's carbon footprint so they can make informed decisions.
Furthermore, while making the payment, they will also be able to offset emissions related to the products they buy with carbon credits used from verified carbon records. When purchasing carbon credits, consumers will receive a certificate detailing the total amount of carbon emissions offset by their purchase, the type of project the credits supported and in which country, as well as the certification standard. These individual, hashed transactions are recorded digitally in the ESGpedia log, where consumers can track their carbon offset efforts. The consumer carbon offset market currently lacks this level of transparency.
Ongoing projects will also be monitored and reported regularly for verification and consumer reassurance of the safety of carbon credits.
For businesses: Razer shares its best practices
Razer believes that brands have a responsibility to be transparent with consumers about the carbon footprint of their products; So that buyers can take a responsible consumer approach. That's why Restorify uses a comprehensive product emissions calculation mechanism that helps companies estimate their carbon footprint based on product emissions across its life cycle.
The motivation for this service stemmed from the realization that some companies did not have the means to calculate the carbon footprint of their products and Razer wanted to provide that.
Restorify will also encourage companies and provide them with a pathway to assess the environmental impact of their products through ECOLOGO certification, Environmental Product Declaration certification, or product carbon footprint verification in collaboration with Razer's partner in ECOLOGO, UL's leader in global safety sciences.
Finally, the carbon-neutral Restorify service will be available for companies to integrate into their existing platforms. Razer will work with partners from its supply chain; Plus more than 50,000 merchants within the Razer Fintech network to support their transition to net zero emissions at no additional cost. The AWS cloud platform will also support Razer to make Restorify available to more than 100,000 partners in 150 countries.
“By committing to powering all AWS regions globally using 100% renewable energy by 2025, AWS is committed to being the most sustainable cloud platform in the world,” said Conor McNamara, Managing Director of Amazon Web Services for ASEAN. This commitment, combined with the depth and breadth of AWS's premium data services, makes AWS an ideal partner for Razer as they usher in this exciting new chapter. This collaboration provides Razer with support for the development and transition to market of Restorify, an innovative carbon tracking service; It will provide long-term benefits to Razer's business, its customers, and the environment."
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