New $50 Million Sustainability Venture Studio Launched Under The Green Block Initiative
Under the newly launched Green Block Initiative at COP28 in the UAE, a global think tank and launchpad for sustainability projects, the joint Sustainability Venture Studio aims to empower sustainable projects worldwide. Spearheaded by The Hashgraph Association and Inacta Ventures, this initiative leverages the Hedera Guardian to establish fair carbon markets with unmatched trust and transparency.
Hedera Guardian: Ensuring Trust in Carbon Markets
The Hedera Guardian is an open-source platform that utilizes the Hedera distributed ledger technology (DLT) network to facilitate digital sustainability policies. It incorporates requirements-based digital Measurement, Reporting, and Verification (dMRV) tokenization for carbon credits, significantly reducing fraud in the ESG market.
$50 Million Investment for Climate Finance
The Sustainability Venture Studio is backed by a $50 million investment, dedicated to enabling auditable and transparent climate finance transactions. The Hashgraph Association has committed $25 million, covering 50% of the investment, while the remaining $25 million is allocated for enterprises interested in developing sustainability projects using the Hedera Guardian over the next five years.
Combining Expertise in Sustainability and Web3
This partnership brings together resources and expertise in sustainability and Web3 technologies, poised to transform the funding and execution of sustainability projects globally. The collaboration aims to ensure a long-term positive impact on environmental, social, and governance (ESG) metrics.
Leaders in Sustainability Share Their Vision
Kamal Youssefi, President of The Hashgraph Association, stated, “With The Green Block Sustainability Venture Studio, we are setting standards for reporting sustainability assets, ensuring credibility and accuracy using the Hedera Guardian platform as the balance sheet of the planet.”
Ralf Glabischnig, Founder of Inacta Ventures, added, “We are excited to integrate the Sustainability Venture Studio into The Green Block Initiative. This collaboration with The Hashgraph Association will accelerate the development and implementation of sustainable projects in The Green Block ecosystem worldwide.”
Hedera: Leading the Way in Sustainable DLT
Hedera, recognized as the greenest DLT by the UCL Centre for Blockchain Technologies, continues to prioritize sustainability. The new venture studio dedicated to sustainability use cases not only underscores this commitment but also fosters innovative solutions in the sustainability sector.
