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WASHINGTON, June 24, 2022 (GLOBE NEWSWIRE) – The following is an open letter from ReFi KlimaDAO, MOSS Earth, C3 and SCB Group:
Global warming is the most urgent challenge facing our planet – a crisis so serious that the United Nations declared in April that it was “now or never” to act to achieve the 1.5-degree path required to prevent worst effects of climate change.
One of the most promising innovations in combating global warming is carbon markets that provide market incentives for entities to reduce their carbon footprint while financing projects that reduce emissions or remove greenhouse gases from the greenhouse gas. We believe that the existing market for buying and selling carbon offsets – called Voluntary Carbon Market (VCM) – can greatly benefit from improvements in the transparency and efficiency of blockchain technology, including accelerating the flow of funding to projects and high impact carbon mitigation
The good news is that through blockchain technology, open, liquid markets have been created by a growing group of Regenerative Finance (ReFi) organizations offering price transparency and access to carbon trading – a breakthrough that could put VCM at the forefront. of the struggle for the salvation of our planet. To date, more than $ 200 million has flowed into ReFi protocols – a significant amount of capital and corresponding carbon offsets, with an active community of supporters, developers and investors helping to pave the way for continued growth.
In May, Verra – a major carbon credit standard certification company – announced that it was suspending blockchain and crypto tokenization and suggested focusing on a “closed, proprietary” credit swap system, rather than working with the ReFi community for solutions. provided by open, transparent blockchain-enabled markets. While Verra has pledged to open a public consultation process within 7-10 days of May 26, 29 days have passed and the consultation process has not yet begun.
The ReFi community is disappointed that Verra has not opened the consultation process. There is an urgent need to open this public consultation process immediately and to prioritize cooperation with the ReFi industry, as we have no time to lose to save our planet.
We are ready to participate in this public consultation process and call on Verra to give ReFi projects the opportunity to showcase the numerous and proven benefits of climate-positive public blockchain for hosting the coal market.
KlimaDAO is a decentralized autonomous organization (DAO) designed to bring innovation, efficiency, transparency and the global scope of Decentralized Financing (DeFi) to the coal market. KlimaDAO has created tools for carbon offset departures, providing in-chain carbon liquidity incentives, and in-chain carbon market information. To learn more, visit KlimaDAO.finance.
About MOSS Earth
MOSS is a climate technology company focusing on environmental services with global operations. In 2020, he created the first carbon-credited badge, the MCO2, used to compensate for greenhouse gases, having already sent more than $ 30 million to the Amazon, which has helped preserve some 800 million trees. The MCO2 badge is listed on platforms such as Coinbase, Gemini, Mercado Bitcoin and others. For more information, visit moss.earth.
C3 was created by leading DeFi coal market players to catalyze the expansion of the coal market, increase the bandwidth between the traditional and the DeFi coal market, and develop innovative means of financing high-impact mitigation and coal mining projects. . You can learn more about C3 here: https://www.c3.app/
The SCB Group is a world leading group of low-carbon goods that is constantly pursuing a low-carbon future. They work with the entire value chain of the voluntary coal space, helping to fund projects in the least developed and developing countries. SCB helps companies and end users formulate their sustainability strategy, while providing carbon solutions according to their goals and requirements. For more information, visit https://starcb.com/.
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