Samsung Electronics to Use Blockchain in Climate-Focused Reafforestation Program
Samsung Electronics America has committed to the planting of 2 million Mangrove trees in Madagascar in a bid to advance its quota on the fight against climate change.
Per the tech giant’s announcement, the initiative will be handled by Veritree, a startup that specializes in using blockchain technology to track every stage involved in the tree planting process.
The Samsung tree planting initiative is billed to be completed in the first half of this year, with the tropical trees expected to restore roughly 200 hectares of land and sequester roughly one billion pounds of Cabon dioxide (CO2) over a 25-year period. Veritree’s acclaimed tree planting role will help in deploying blockchain technology to verify and track every step of the reforestation process.
“Samsung’s sustainability journey is an ongoing and multi-faceted one. Investing in tech innovations, such as those that create efficiency improvements and minimize waste, in combination with nature-based solutions, are vital in the fight against climate change,” said Mark Newton, Head of Corporate Sustainability at Samsung Electronics America. “Drawing on our history of open collaboration, we’re teaming up with veritree for the tree-planting initiative as an added way to contribute to a better global society.”
While the cost of the project was not disclosed, the nobility of the exercise was well acclaimed. Trees are very crucial in combating climate change as they trap CO2 which are useful to plants in food manufacture. Trees remain one of the most endangered life forms as humans cut them down for use in furniture and construction. The Madagascar mangrove is one of the most deforested ecosystems in the world, thus accounting for the Samsung initiative in the region.
“Reforestation is one of the best ways to fight climate change. By collaborating with verities, eco-conscious brands like Samsung that aim to do good for our planet instead of just less harm can have accurate, ground-level data on their tree planting impact,” said Derrick Emsley, Co-Founder, and CEO of verities. “Our mission is to make it simple to incorporate nature-based solutions into any business model and we’re excited by our strategic partnership with Samsung.”
The initiative reaffirms the suitability of blockchain technology in helping to drive accountability in relation to sustainability activities. Prior to Samsung, other tech firms including Volvo have used Blockchain in climate-related programs in the past as reported by Blockchain.News.
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