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Samsung adopts blockchain technology to mitigate climate change

3 min reading

Samsung will spearhead a tree-planting drive in Madagascar and use distributed ledger technology to trace its progress.

On Monday, Samsung Electronics America announced at the CES Tech Conference in Las Vegas that it will plant two million mangrove trees in Madagascar within the next three months in collaboration with veritree, a blockchain-based climate solutions platform. Veritree manages the reforestation procedure and certifies each tree planted using blockchain technology.

The tree-planting initiative is a major part of Samsung's nature-based environmental sustainability action program, particularly to trap and store carbon dioxide (CO2) from the atmosphere. Over 25 years, the aim is to recover around 200 hectares of land and secrete around 1 billion pounds of CO2.

Veritree, established by tentree, a sustainable clothing brand that plants ten trees for every item of clothing sold, will manage the logistics. Veritree is intended as an accounting system and aims to increase clarity throughout the whole process, from field-level data gathering through site planning, tree stock, and effective tracking. Tree planters use their mobiles to monitor trees that have been paid for by a sponsor, effectively generating a virtual map of the associated digital trees.

According to Mark Newton, Samsung's head of corporate sustainability, investing in creative technologies and so-called "nature-based solutions" is necessary to address climate change.

Mangrove trees, according to Samsung, are among the most efficient natural carbon sequesters in the world. The roots of mangrove trees, which are generally submerged in water, collect and store CO2 in the soil. Samsung intends to collaborate with local community members in Madagascar's Mahajanga region, which is facing severe deforestation, to attain its two million tree target by the end of the quarter.

The tree-planting plan is a component of Samsung's increasing sustainability initiatives. The company recently launched a new smart TV series with an integrated NFT platform, in addition to utilising sustainable energy in the U.S.




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