The Green Block Initiative was recently introduced at COP28 in the UAE as a platform for sustainability projects. The joint Sustainability Venture Studio, led by The Hashgraph Association and Inacta Ventures, aims to support sustainable initiatives globally. Utilizing the Hedera Guardian, this initiative seeks to establish fair carbon markets that prioritize trust and transparency.
Ensuring Trust in Carbon Markets with Hedera Guardian
The Hedera Guardian, an open-source platform powered by the Hedera distributed ledger technology network, plays a crucial role in implementing digital sustainability policies. By introducing requirements-based digital Measurement, Reporting, and Verification (dMRV) tokenization for carbon credits, it effectively reduces instances of fraud in the ESG market.
$50 Million Investment for Climate Finance
To bolster climate finance transactions, a $50 million investment supports the Sustainability Venture Studio. The Hashgraph Association has pledged $25 million, representing half of the total investment. The remaining $25 million is earmarked for enterprises looking to develop sustainable projects through the Hedera Guardian platform in the next five years.
Merging Sustainability and Web3 Expertise
This collaboration merges the expertise of sustainability and Web3 technologies, aiming to revolutionize the funding and implementation of sustainability projects worldwide. The overarching goal is to create a lasting positive impact on environmental, social, and governance (ESG) metrics.
Vision of Sustainability Leaders
Kamal Youssefi, President of The Hashgraph Association, emphasized the significance of The Green Block Sustainability Venture Studio in setting standards for reporting sustainability assets, ensuring credibility, and accuracy through the Hedera Guardian platform. Ralf Glabischnig, Founder of Inacta Ventures, expressed excitement about integrating the Sustainability Venture Studio into The Green Block Initiative, predicting accelerated development and implementation of sustainable projects within The Green Block ecosystem globally.
Hedera: Pioneering Sustainable DLT
Hedera, distinguished as the most environmentally friendly DLT by the UCL Centre for Blockchain Technologies, remains committed to sustainability. The establishment of a new venture studio exclusively for sustainability reinforces this commitment and fosters innovative solutions within the sustainability sector.
