Blockchain firm Verofax has teamed up with climate tech startup Netgreen to enhance global reforestation efforts. The partnership aims to create a transparent and efficient way for individuals to support tree-planting initiatives. This collaboration will also help track and measure carbon capture, preventing double counting and ensuring compliance with environmental standards.
Linking People to Verified Reforestation Projects
Blockchain-based tracking platform Verofax partnered with climate tech startup NetGreen to boost global reforestation efforts. Verofax’s technology will reportedly help Netgreen’s platform offer individuals a “plant-a-tree service” linked to verified reforestation projects.
Combining Verofax’s Tree Chain technology with Netgreen’s approach will streamline tracking, identifying, and measuring carbon capture. This partnership aims to prevent double counting and align with international standards.
Netgreen CEO and co-founder Nisreen Shadad said:
Partnering with Verofax propels us toward our vision of a greener planet by enhancing the reach and effectiveness of our reforestation projects. Their advanced technology solutions will allow us to provide undeniable proof of impact to our participants, increasing trust and participation rates. This is a game-changer for environmental engagement.
Verofax CEO Wassim Merheby said the partnership demonstrates the technology’s potential to address environmental challenges. He added that joining forces with Netgreen will scale reforestation efforts and showcase technology’s positive impact.
The Verofax and Netgreen collaboration aims to benchmark how AI and blockchain can promote sustainable practices. Furthermore, the collaboration helps underscore the two companies’ commitment to leveraging their strengths in promoting environmental stewardship and global sustainability.