Impact Credits become Impact Incentives!
After discussions within our team and also with the Impact Alliance partners, GRSB and Proterra, we have decided to change the name of the Impact Credits to Impact Incentives. We agree that the term ‘incentive’ more accurately describes what we are trying to do: they will be used to encourage and reward farmers to follow best practices. We also avoid some of the assumptions that are connected to credit trading, and can set up the Impact Incentives to be a flexible and powerful tool to meet the needs of farmers and brands, and to drive real systems change.
Impact Incentives are a concept currently being develop by Textile Exchange, through the Responsible Leather International Working Group (RL IWG), to serve as a mechanism for brands to deliver their expectations back to the start of the supply chain and provide financial rewards to incentivize them.