We have seen the hype: hundreds of people rushing to create NFTs with different purposes without necessarily considering the consequences of building on systems that are not sustainable or efficient. Building a Climate Tech startup on blockchains like Ethereum, is far from sustainable and reveals motivations that lack a real commitment to long-term thinking and Nature Protection.
At ePioneers we are building web3 infrastructure for Climate or Regenerative Finance. But beyond the hype, we want to walk the talk and be rigorous, excellence-driven and coherent with our vision. For this reason, we partnered up with Algorand, the greenest blockchain in the market. We could have launched Climate Portfolios on already existing marketplaces with lots of volume and users – reaching market faster, easier, and at a lower cost. But that "short-term thinking" is what has caused us millions of living ecosystems worldwide, and is causing us a lack of awareness. We don't want easy short-cuts that betray our real purpose and Team Culture. Building Climate Tech startups on highly inefficient blockchains is like powering solar energy with fossil fuels.
To meet climate, biodiversity and NetZero targets, financial flows to nature-based solutions must triple by 2030 and increase four-fold by 2050 (UN, 2021). In fact, nature-based solutions can absorb up to 30% of all global carbon emissions by 2030, if fully protected (UNEP 2019). So far, Nature is the best proven technologies to absorb carbon emissions and yet, our biodiversity is collapsing we face additional challenges:
- Violence. Colombia, the most biodiverse country in the world by square meter was also the deadliest place for environmentalists in 2020. According to the NGO Global Witness, almost 30% of the 227 assassinated environmental activists worldwide were murdered in Colombia. Forty-one of the 65 assassinations throughout the country were associated with the defense of land against both legal and illegal economic activity and many of the victims were actively involved in programs that seek to replace coca, the base ingredient of cocaine, for legal crops (Source: Southwest Colombia world’s most dangerous place for environmental activists).
- Biodiversity Destruction. Deforestation in the Brazilian Amazon has hit the highest annual level in a decade. Between August 2020 and July 2021, the rainforest lost 10,476 square kilometers – an area nearly seven times bigger than greater London and 13 times the size of New York City according to Imazon. Deforestation rates in 2021 are expected to be almost 50% higher than in 2018.
- Climate Justice. Climate inequality is already affecting the world. Indeed, the largest polluters on the planet are also those who suffer the least from the dangers of climate change. Alternatively, those polluting the least will be the ones most impacted by the consequences of our changing world.
- Underdeveloped Carbon Markets Infrastructure. Mechanisms to incentive Nature protection such as the Carbon Markets are benefiting the most polluting regions in the world - Europe and North America - all while regions like Latin America are just getting started in creating their infrastructure to participate in carbon offsetting solutions at their maximum potential. Nature-based solutions, beyond enabling carbon offsets, are Carbon Positive because of their capacity to continue absorbing carbon from their living systems.
- Travel Carbon Footprint. Tourism is set to grow to $8.9 trillion USD by 2026. The industry accounts for 8% of all global emissions.