Blockchain company Verofax is partnering with climate tech startup Netgreen to improve 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.
Connecting 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 provide individuals with a “plant-a-tree service” linked to verified reforestation projects.
Combining Verofax’s Tree Chain technology with Netgreen’s approach streamlines the tracking, identification and measurement of carbon capture. This partnership aims to avoid double counting and align with international standards.
Netgreen CEO and co-founder Nisreen Shadad said:
Partnering with Verofax propels us towards our vision of a greener planet by increasing the reach and effectiveness of our reforestation projects. Their cutting-edge technology solutions will allow us to deliver undeniable evidence of impact to our participants, increasing confidence and participation rates. This is a game-changer for environmental engagement.
Verofax CEO Wassim Merheby said the partnership demonstrates the technology’s potential to tackle environmental challenges. He added that joining forces with Netgreen will scale up reforestation efforts and showcase the positive impact of technology.
The collaboration between Verofax and Netgreen aims to benchmark how AI and blockchain can advance sustainable practices. Furthermore, the collaboration helps underscore the two companies’ commitment to leveraging their strengths in advancing environmental stewardship and global sustainability.