last updated September 2021
Brand New Vision Ltd will be a carbon neutral company and has the desire and intention to be carbon negative and act in a way that compensates for the damage that the traditional apparel and fashion industries cause.
We do not produce any physical products ourselves and therefore do not contribute to GHG emissions or ecological damage caused through the manufacture of raw materials and items of clothing. From harvesting of cotton or other natural materials, similar for synthetic materials using petrochemical by-products, or the transportation, storage, packaging, and the powering of physical properties and buildings engaged in the total supply chain.
At this point in time we mint small quantities of limited edition NFTs. While specific data and analysis vary considerably depending on the source it is widely believed that the CO2e emissions involved in creating one NFT are substantially less than those involved in the full production and distribution cycle of a similar item of clothing in the real world.
As a young company our carbon footprint is currently minimal although we are aware and acknowledge the currently high power consumption involved in the validation of transactions on the Ethereum blockchain through its current Proof-of-Work protocol. We have worked on this blockchain as it is the most secure, robust and transparent and with the launch of ETH2 as Proof-of-Stake in early 2022 the power consumption will reduce dramatically with some forecasts of this being up to 1/10,000th of the PoS protocol.
We are currently working with a number of ESG companies and service providers to assess our complete company environmental impact and formulate a meaningful approach to either offsetting or insetting CO2e as well as other approaches we can take to act in a responsible and proactive manner.