Greenhouse gases are the molecules in the atmosphere that are responsible for keeping heat below the atmospheric ceiling. They reflect back the infrared radiation that we perceive as heat.
It is a very delicate balance that maintains the temperature balance on our planet. By introducing more greenhouse gases, the atmosphere gets a little warmer. This is called the greenhouse effect.
The greenhouse effect is a natural process. However, since the industrial revolution, we have been emitting greenhouse gases in huge quantities. The magnitude is so great that the climate is changed to such an extent that the usual weather patterns are disturbed. Even a change of a few degrees Celsius has far-reaching effects on our environment.
The top three sources of greenhouse gases:
Fossil CO2
Fossil fuels are widely used for power and heat generation. Gas and coal-fired power plants still account for a large share of electricity production in many countries. We need oil in the form of gasoline, diesel and kerosene every day for transportation.
Biogenic CO2
In many countries, farmland is created by burning forest land. The fire releases CO₂ that had been stored in the wood for decades.
Methane
Never before has mankind raised farm animals such as cows or pigs on the mass scale that we do today. While we derive great benefit from them, their husbandry and digestive processes result in high methane emissions. Other emissions of this gas come from landfills and the chemical industry. Methane has a global warming potential 25 times higher than CO₂.
Which is why PayGreen bases transaction fees for businesses on their greenhouse gas footprint:
In short, we want to turn big buying power into an environmental incentive tool.
We calculate the company's annual environmental impact in CO₂ equivalents through a life cycle assessment and charge a transaction fee based on those emissions. Green companies are rewarded for their efforts through lower transaction fees. We hope that this will be an incentive for many companies to reduce their greenhouse gas emissions.