Industry News

HBAR Foundation unveils new UN-backed carbon platform

TL;DR Breakdown

  • The HBAR Foundation, in collaboration with the United Nations, introduced Guardian, a new platform for carbon markets.
  • Guardian utilizes Hedera’s blockchain and HBAR token to enhance transparency in carbon market data.
  • This digital platform aims to streamline climate change mitigation methodologies.

In a significant development in blockchain technology and sustainability, the HBAR Foundation, in partnership with the United Nations, Envision Blockchain, and Swirlds Labs, announced the launch of a new digital platform to revolutionize the carbon markets. This announcement on Monday, Dec. 4, 2023, marks a pivotal step in leveraging blockchain technology for environmental purposes.

HBAR and UN introduce guardian service

The newly introduced platform, named Guardian and its Managed Guardian Service, focuses on the digital measurement, reporting, and verification (MRV) processes in carbon markets. Utilizing Hedera’s blockchain technology and its native token, HBAR, Guardian is set to enhance the transparency and accessibility of data in carbon markets. This innovation eliminates the need for centralized intermediaries, thereby streamlining processes.

Massamba Thioye, Project Executive at the United Nations Framework Convention on Climate Change’s Global Innovation Hub, emphasized the platform’s significance in digitizing climate change mitigation methodologies. The addition of 15 new methodologies to the open-source library, combined with advanced search functionalities for project data, is expected to foster innovations and ease of access to project information.

HBAR foundation enhances UN’s climate efforts

The introduction of Guardian represents a broader trend of the United Nations’ increasing involvement with blockchain technology. This initiative aligns with the UN’s objectives to adopt innovative solutions for climate action and sustainable development.

The collaboration between the HBAR Foundation and the United Nations is not an isolated event. The United Nations Development Programme (UNDP) previously partnered with the Algorand Foundation. This partnership aims to provide UNDP staff with comprehensive blockchain education through the Algorand Blockchain Academy, set to launch in the first quarter of 2024.

Wes Geisenberger, Vice President of Sustainability & ESG at the HBAR Foundation, highlighted the platform’s potential to provide a more efficient and transparent framework for climate action. Integrating blockchain technology in environmental initiatives indicates a significant shift towards more innovative and effective solutions to global climate challenges.

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