How blockchain can help ocean states profit from their ecological transition
This week at the 27th United Nations Climate Change conference, in Sharm El Sheikh, Egypt, NOAH ReGen announced that, together with their strategic technology partner Crystalchain, are building a first-of-its-kind platform leveraging blockchain to evaluate, track and measure the impact of investing in regenerative blue economy projects.
The ocean is the world’s largest climate mitigator, absorbing up to 50% of all fossil fuel-related carbon dioxide emissions. In fact, “blue carbon” ecosystems such as mangroves, seagrass beds, and tidal marshes are among the most intense carbon sinks on the planet.
Yet humans are decimating this precious resource at a time when we need it most. Pollution, greenhouse gas emissions, and over-fishing are already costing the ocean dearly. And coastal degradation is only likely to worsen given the rising global population, 40 percent of which lives within 100km of the sea.
To help reverse this trend, it is crucial to help ocean nations find a financially sustainable way to invest in environmental protection. Monetizing blue carbon credits from public and private carbon sequestration projects is a vital step for this. And this is what NOAH ReGen is developing, with the technical expertise of blockchain traceability leader Crystalchain.
NOAH ReGen is an international consortium dedicated to unlocking financial solutions for ocean conservation, at scale. Its multidisciplinary team combines finance, tech, and sustainability experts who have developed the long-term relations with high-level stakeholders and ocean nations needed to make this holistic vision a reality.
Their chosen partner, Crystalchain, has the technological and strategic expertise required to offer traceability information on the life cycle of clean projects for all stakeholders involved – including policymakers, investment funds and companies – with the use of custom-made dashboards. It even allows the sale of sovereign carbon credits to be traced, to ensure that profits are reinvested in local impact-driven projects.
The project goes beyond carbon credits. Besides tracing sequestration, the platform includes all key ESG components of a project, such as biodiversity, as well as human and financial impact scores.
After months of R&D, the project is now in phase one, and NOAH ReGen is now welcoming a wide variety of stakeholders – from auditors and corporate buyers to coastal citizens and researchers – to join working groups designed to guide the next iterations of the platform.
QUOTE from Julie WILD, COO Noah ReGen, France :
“This disruptive project allows countries and companies to easily prove the quality of their carbon credits, offering a clear and provable vision not just on carbon impact but on all the co-benefits such as biodiversity.”
QUOTE from Sylvain Cariou, CEO of Crystalchain :
“Crystalchain’s team is honored to have been chosen by Noah ReGen for this project. Our ambition is to continue growing our decarbonation project portfolio to provide greater reliability to companies who wish to ensure their CSR efforts are effective and trustworthy.”
– NOTES TO EDITORS –
Noah ReGen is an international consortium offering ocean states a comprehensive solution to fast-track their ecological transition, including tools for valuing their natural resources, unlocking new sources of income (such as carbon credits), attracting private funds, and tracing blended finance projects for maximum impact. Its partnerships include Gold Standard, Global Bank of Commerce, UNWTO and World Ocean Council.
Crystalchain is a French company specializing in blockchain traceability, founded in 2016. It enables clients to meet the growing consumer demand for transparency and add value to their products by registering all or part of the value chain on the platform – from raw material origin to quality certifications. All data can subsequently be displayed via dashboards for manufacturers and QR codes for consumers.
For more information on the subject or to interview one of the members of our team, please contact:
Laura Secorun, Noah ReGen Press Officer
Sherralynn du Chayla, Crystalchain Marketing & Communications Manager
firstname.lastname@example.org +33 6 79 55 83 83
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