ShiftCarbon Expands Offering Inventory with New REDD+ Carbon Credit Projects

Vancouver, British Columbia--(Newsfile Corp. - April 20, 2023) - ShiftCarbon (CSE: SHFT) (OTC Pink: SHIFF) (formerly Tracesafe) (the "Company"), a global leader in the Internet of Things (IoT) platforms and an innovator in end-to-end decarbonization solutions is excited to announce the addition of several new nature-based REDD+ carbon offset projects to its offering inventory. Located in Brazil and Indonesia, these projects align with the company's commitment to sustainability and environmental responsibility and will contribute to global efforts to combat climate change.

REDD+ stands for "Reducing Emissions from Deforestation and forest Degradation," and is an initiative that addresses two of the most pressing global challenges of our time: climate change and biodiversity loss. REDD+ projects focus on protecting and restoring threatened forests and promoting sustainable land use practices that benefit local communities. By doing so, these projects help to conserve biodiversity, enhance ecosystem services, and mitigate the impacts of climate change, all while supporting the United Nations' Sustainable Development Goals (SDGs).

"We are thrilled to add these new nature-based REDD+ projects to our carbon offset inventory," said Qayyum Rajan, Head of Carbon Products at ShiftCarbon. "These projects will save millions of tonnes of carbon and protect hundreds of thousands of hectares of forest, while also supporting the livelihoods of local communities. We are proud to be a part of these efforts and look forward to allowing our customers to purchase even more types of high-quality, verified carbon offsets."

As a provider of high-quality, verified carbon offsets, ShiftCarbon recognizes the importance of offering a wide variety of projects across types, countries, and verification standards. By doing so, the company is able to meet the diverse needs of its customers while upholding the highest standards of environmental integrity and social impact. The newly added projects have been verified across a number of standards, including Gold Standard, Verra's Verified Carbon Standard (VCS) and the enhanced Community and Biodiversity Standards (CCB).

"Our customers can be confident that the carbon offsets they purchase from us are making a real difference in the fight against climate change," said Rajan. "We're excited to be including these projects in the bespoke offset portfolios we build for our customers. Our existing customers can already purchase or even embed these offsets into their business workflows using the ShiftCarbon trading platform. We encourage anyone interested in supporting sustainable development and reducing their carbon footprint to reach out to our Sales team or visit our partner marketplace on Patch.io."

About ShiftCarbon

Shiftcarbon provides an innovative platform for carbon accounting, offsets, and MRV (Measurement, Reporting and Verification) automation. Businesses can use Shiftcarbon Measure to view a complete picture of their carbon emissions without the need to hire external consultants or use manual calculations. Shiftcarbon Offset provides enterprises with powerful APIs that allow customers to embed carbon offsets into their business. Find more details on www.shiftcarbon.io.

ShiftCarbon also operates TraceSafe, a leading IoT cloud platform. The solution uses sensor technology to deliver precise and timely information, powering safer and smarter enterprise environments. With a presence across North America, Asia and Europe, TraceSafe is trusted by leading organizations in healthcare, hospitality, construction, events, education and government. Find more details on www.tracesafe.io.

For further information, please contact:

Wayne Lloyd, CEO
+1 (604) 629-9975
wayne@shiftcarbon.io

Mark Leung, CFO
+1 (778) 655-4242
mark@shiftcarbon.io

The Canadian Securities Exchange has in no way approved or disapproved the contents of this news release.

Statements in this news release may contain forward-looking statements that are based on ShiftCarbon's expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to expectations regarding the ShiftCarbon assets and their application, future business plans and relationships, future developments in respect of carbon and climate risks and solutions adopted in response to climate change, and the deployment and acceptance of the ShiftCarbon technology. Although ShiftCarbon believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including the suitability of our products to help businesses and governments respond to climate change and impact of carbon emissions and government responses thereto, and general economic and market conditions. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and ShiftCarbon undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/163138