Launched in 2017 by Quantis and Cleantech21, an independent, non-profit foundation advocating for a sustainable market economy, the REDD-Chain Project integrates three disruptive technologies — Internet of Things (IoT), blockchain and Artificial Intelligence (AI) — with standardized forest carbon accounting methods to develop an innovative monitoring, reporting and verification (MRV) service within the framework of the UNFCCC REDD+ (Reducing Emissions from Deforestation and Forest Degradation) program, solidifying the link between investors and verified climate mitigation certificates in the forest domain. The project aims to promote the establishment of a new ‘forest finance ecosystem’ offering improved MRV, lower transaction and administration costs and better incentives for local stakeholders to engage in forest conservation efforts.
“Blockchain has real potential to transform the way we approach climate change mitigation by optimizing systems that promote transparency and traceability and enhance decision-making,” says Dominik Müller, Quantis Senior Sustainability Consultant and REDD-Chain Project lead. “Coupling this powerful technology with remote sensing, REDD-Chain will dramatically improve the efficiency and impact of REDD+ projects by providing better and more comprehensive data on forests. Greater oversight on what is happening on the ground in real-time can provide more transparency to results-based payments ensuring that funds are appropriately allocated and providing greater incentive for local stakeholder engagement. Applied on a global scale, this could have a considerable impact on reducing greenhouse gas (GHG) emissions, particularly those driven by land use change and deforestation.”
Contact Quantis Senior Sustainability Consultant Dominik Müller to learn more about how the REDD-Chain Project will shape the future impact of forest carbon accounting and land use change emissions, how to get involved or to connect at COP24.