Integrating Nature & Technology for Scalable Climate Action

As the world becomes increasingly aware of the dangers of climate change, the need to reduce greenhouse gas (GHG) emissions offers both a challenge and an opportunity.

Limiting direct emissions within a business' own value chain is to be prioritised, however it is not enough. For this reason, natural climate solutions and artificial carbon removal initiatives are required in order to achieve the below 1.5°C target set by the Paris Agreement.

Climate action initiatives have gradually gained momentum and, ever since the first project in Guatemala in the 80’s, there has been steady growth in international financial support and governmental interest as the urgency of climate change has increased throughout the years.?

However, due to the highly complex regulatory nature of the transactions and the large amounts of data required, upscaling the impact of climate mitigation initiatives has been significantly limited.?

Concurrently, the technological progress of data measurement, reporting and verification as well as security tools, such as blockchain, has increased the transparency and traceability of impact data.

New tools such as blockchain-based registries, remote sensing, carbon and land use image analytics and on-site measurements have removed the need for intermediaries, significantly decreased infrastructure costs and have led to a more decentralized structure for impact data management.

It is at the intersection between climate projects development and blockchain that the Voluntary Carbon Market (VCM), is currently attempting to harness the potential of nature and technology-based solutions within a rapidly changing regulatory and economical context.?

The current fragmented nature of the VCM has fostered a wild west-like landscape, where low accessibility and lack of data transparency have significantly hindered the positive impact of mitigation initiatives.

It is for this reason that Senken has built a marketplace powered by blockchain tech to allow project developers to directly interact with potential suppliers - all whilst increasing transparency and traceability within methodologies, facilitating third party audits and due diligence reviews,? and ultimately increasing trust and enhancing financial resource mobilization.

Furthermore, Senken is currently developing technology that will enable project developers to digitise their methodologies and carbon credits with ease.

This solution is designed to support small project developers seeking financial support for climate projects that are currently limited by conventional registry requirements and verification methodologies.

Ultimately, the it will allow potential investors to directly access project data and review information based on their own due diligence requirements.

Stay tuned for forthcoming updates on our latest solution!