GreenClimateDAO Set to Unlock the Power of the Crowd to Fight Climate Change

MIAMI, Dec. 2, 2021 /PRNewswire/ -- GreenClimateDAO, the new decentralized autonomous organization for climate announced at the Decipher conference, aims to disrupt climate action via decentralized decision-making and financing for resilience projects.

Within the GreenClimateDAO ecosystem, carbon credit outputs from mitigation, reduction and removal projects will be tokenized and offered to anyone looking to take an active role in the fight against climate change. In essence, GreenClimateDAO aims to solve the issue of coordination and capital allocation for climate-positive projects by harnessing the wisdom of the crowd through user-friendly blockchain technology. By laying the foundations of a climate finance ecosystem, GreenClimateDAO leverages financial incentives to accelerate Earth's decarbonization and simplifies the carbon offsetting process for companies and individuals.

The DAO will initially belaunched by a foundation chaired by Francisco Benedito, Co-Founder of ClimateCoin, CEO of blockchain-enabled climate marketplace ClimateTrade and Top 100 Fintech for SDGs Influencer, and two Co-CEOs. The first, Pedro Ramón López García, is a tech leader influencer, banking director at BBVA, former co-chair of the Climate Action Working Group at global blockchain association INATBA, and a co-founding member of the Climate Chain Coalition, while the second, whose name will be announced soon, is a senior director from the sustainable finance sector.

GreenClimateDAO is backed by green blockchain network Algorand and VC firm Borderless Capital, and will benefit from the involvement of high-profile blockchain and sustainability figures from academia, governments, public and private organizations. The executive team has been involved in climate action since before the crypto-era, and has gathered years of experience in leveraging blockchain for climate action, carbon markets and traditional finance. This expertise is one of the strengths that set it apart from other carbon credit tokenization projects.

"With GreenClimateDAO, we bring the best professionals from the blockchain world and the sustainable finance world to revolutionize funding for climate action. We want to make decentralized governance and financing accessible even to less crypto-savvy participants in order to truly democratize it, while completely digitizing the process of purchasing carbon offsets with the transparency and accountability that Algorand, the greenest blockchain, offers," said Pedro López.

"Carbon markets need the standardization and transparency that ClimateCoin provides. With the governance structure provided by GreenClimateDAO, carbon credit tokenization can finally reach its full potential, especially after what we acknowledged in Glasgow," added Francisco Benedito.

GreenClimateDAO will function with two separate tokens: a governance token giving holders voting rights on any executive decision affecting the operations of the network (such as which projects to support or where to allocate budget, amongst other matters), and the ClimateCoin, a fungible token representing high-quality carbon credits aligned with the Core Carbon Principles, as defined by the Taskforce on Scaling Voluntary Carbon Markets.

First launched in 2017, ClimateCoin was recognized by the UN Economic and Social Survey 2018 as "a basis for creating a global market for carbon emissions, allowing peer-to-peer exchange of carbon credits and a direct connection to the Internet of Things." Now coupled with the governance power of GreenClimateDAO, this fungible token backed by the locking of different kinds of carbon credits on-chain is set to improve price discovery in the carbon market and unlock liquidity from both traditional funders and the Decentralized Finance (DeFi) ecosystem.

"Tokenizing carbon credits with ClimateCoin will not only give project developers a broader reach for sources of capital, but will also allow them to access DeFi applications, exponentially increasing the liquidity available to those taking on-the-ground action to meet the Paris Agreement target of limiting global warming to 1.5°C," said Álex Casas, Project Manager at the DAO.  

GreenClimateDAO is now inviting the blockchain, sustainability and impact investment communities and project developers to join the initiative to be updated about the launch of the project in early 2022.  

SOURCE GreenClimateDAO