It is difficult to overstate the contribution that blockchain technology will make to increasing sustainability and reducing the climate catastrophe.
The UN held its “Stockholm+50: a healthy planet for the prosperity of all — our responsibility, our opportunity” event in June. This event was centred on the implementation of the UN’s Decade of Action to deliver the Sustainable Development Goals, 2030 Agenda, Paris Agreement, and Post-2020 Biodiversity Framework, as well as to encourage a green recovery from COVID-19. The occasion provided world leaders with an opportunity to reflect on 50 years of environmental action aimed at addressing the Earth’s climate, nature, and carbon dioxide pollution challenges. The event was held 50 years after the first-ever United Nations Conference on the Human Environment in 1972.
At Stockholm+50, my art exhibition “Reef Dwellers” was a related activity. It recognised the importance of the seas in daily life and aimed to spur protection efforts for reefs, which account for less than 1% of the world’s sea surface but are responsible for more than 25% of marine biodiversity.
The oceans serve as significant natural carbon sinks, storing 25% of the world’s yearly CO2 emissions while supporting 80% of all life and producing half of the planet’s oxygen.
Five Hiroshima atomic bombs being dumped into the ocean per second, which is how quickly they are warming.
A major ecological problem is being caused by plastic pollution. On March 2, the United Nations Environment Assembly made a significant decision by deciding to draught a historic worldwide convention to stop plastic pollution. The UN estimates that the project may reduce the amount of plastic waste entering the seas by 80% by 2040, as well as the creation of virgin plastic by 55% and greenhouse gas emissions by 25%. Governments may also save $70 billion by 2040 and generate 700,000 employment, mostly in the Global South.
Diatom DAO, a project tackling the issue of plastic pollution, has suggested a tokenized Plastic Removal Credits architecture. Its objective is to use the decentralised finance (DeFi) capabilities to create a trustworthy, verifiable, and effective plastic removal supply chain that boosts recycling, decreases use, funds high-leverage removal projects, establishes new circularity channels, and fosters innovation in new materials.
Ocean acidity has increased by 30% since the beginning of the Industrial Revolution as a result of carbon dioxide absorption. While Toucan Protocol is developing the framework for a carbon market to fund top-notch climate solutions in an effort to hasten the transition to net-zero carbon in compliance with the Paris Agreement, Captura intends to employ solar-powered, floating plants to capture CO2 from the ocean.
The Open Earth Foundation, a charity devoted to creating open-source technology for climate action, is the organisation behind the OceanDrop project, a philanthropic nonfungible token. The revenues from the NFT sales, which are linked to carbon offsets, go toward a pilot initiative to increase the size of Cocos Island’s and Costa Rica’s protected marine areas.
