Samsung Electronics America has partnered with Veritree, a climate solutions platform built on the Cardano blockchain, to plant 2 million trees in Madagascar by the end of Q1, 2022.
Veritree will manage the tree-planting initiative by harnessing blockchain technology to verify and track every step of the reforestation process.
According to the press released shared with BitKE, Samsung is looking to work with on-the-ground experts from Eden Reforestation Projects and community members to plant 2 million mangrove trees near the Mahajanga region of Madagascar, a coastal region faced with biodiversity challenges due to deforestation on an enormous scale.
VeriTree utilizes blockchain technology to provide Samsung with a fully integrated platform to support field-level data collection, site planning, inventory (tree) management, and impact monitoring. The system was built to gather data from day one of tree planting and provide greater transparency into the entire process.
The project is expected to restore roughly 200 hectares of land and help sequester roughly one billion pounds of CO2 over a 25-year period.
Currently, VeriTree has ongoing reforestation projects in the following regions:
Kenya – Mangrove forest for carbon sequestration
Madagascar – Mangrove forest for carbon sequestration, curb coastal erosion, offer employment, and female empowerment
Indonesia – Mangrove forest for carbon sequestration, curb coastal erosion, offer employment and female empowerment
Haiti – Agroforest for food security and soil restoration
Nepal – Subtropical moist forest for habitat restoration and soil restoration
Canada – Boreal forest, temperate dry forest, seaforest for habitat restoration, climate change adaptability, biodiversity preservation, and ocean de-acidification
United States – Temperate dry forest for habitation restoration
Mangroves are some of the world’s most effective nature-based carbon sinks helping capture CO2 and remove it from the atmosphere. The mangrove roots help store CO2 by submerging into the soil along with the trunk and limbs of the tree.
By comparison, forests in drier climates would take between 50 – 100 years to capture the same amount of carbon in the same area populated with mangroves.
By collaborating with VeriTree, eco-conscious brands like Samsung are helping create meaningful impact under its 2021 campaign dubbed, ‘Everyday Changes. Meaningful Impact.’
Nature-based solutions currently account for only 1% of global decarbonization. VeriTree aims to rapidly scale restoration by bridging one critical gap – transparency.
VeriTree, is the world’s only purpose built nature-based solutions monitoring tool connecting tree planters, planting organizations, businesses, and consumers on one secure platform.
VeriTree’s system gives partners, their customers, and project funders the transparency needed to have confidence in their impact and, through interactive portals, bring this impact to life.