Samsung Tackle Climate Change With Blockchain Tech
Samsung used CES 2022 to announce a partnership with blockchain-based climate solutions platform Veritree that will see two million mangrove trees planted in Madagascar through the next three months.
The initiative will be tracked using distributed ledger technology, with Veritree applying blockchain tech to manage the reforestation process and verify each tree is planted.
This is just part of Samsung’s nature-based action plan on environmental sustainability. YThey aim to restore around 200 hectares of land and insulate more than 45 million kilos of CO² from the atmosphere in a 25-year period.
Veritree are a sustainable clothing company that plant 10 trees for every item sold. They will handle the logistics of the operation.
Mangrove trees are some of the most effective nature-based carbon sinks. With their roots usually covered by water, they catch and store CO² in the soil.
Samsung will work with the community in Madagascar’s Mahajanga region, which is facing serious deforestation.
With the aim to hit the two-million tree goal by the end of the first quarter 2022, Samsung head of corporate sustainability Mark Newton says investing in innovative technology and “nature-based solutions” is essential for combating climate change.
Planters will use their phones to track trees a sponsor has paid to plant, creating a digital map of the corresponding digital trees. The whole process will be transparent, from data collection, site planning, inventory and impact monitoring.