Climate Action

Green Coin the environmental crypto asset with backup value in nature-based solutions

(Panama City-ANPanama) Today, Green Coin, is presented as the simplest and most transparent decentralized financial and investment instrument on the market. It is an environmental crypto asset that is focused so in the responsible citizens that want to measure, mitigate or reduce their carbon footprint and bringing value to things that have no value right now.

  • 21 October 2022
  • Horeb Energy

Pedro Ceja, CEO of Horeb Energy, explained that Green Coin is a platform that is open to all citizens; any individual, person, company or institution can apply. What is being sought is to generate awareness through compliance of the seventeen Sustainable Development Goals.

“It is a way to help; generating awareness in every single person regarding the environment and climate change”, he added.

The launch of this project is scheduled for year 2023, but first it’ll be presented at the United Nations’ Conference of the Parties (COP), within the Sustainable Innovation Forum 2022 to be held in Egypt next November. After that, they will announce the official launch in the first quarter of next year, in Luxembourg.

Regarding the operation of the platform, Ceja explained that, the control and measuring is done through satellite monitoring and machine learning, that means photographing the forest reserves every day, forming a tiled image of the area that is compared quarterly.

“Each year a forest reserve, has the capacity to produce a certain amount of ecosystem services. The United Nations agencies, which in this case are: the International Training Center for Authorities and Leaders (CIFAL) and the United Nations Institute for Professional Training and Research (UNITAR); these entities monitor whether or not we suffer from felling of trees, fires or something that has damaged the forest productivity of ecosystem services”, said Ceja.

Once both entities determine that the production of ecosystem services corresponds to certain amount of tons of carbon, this allows them to grant the backing value to the Green Coins that will be released the following year. This quantity cannot exceed the Green Coins certified and verified by United Nations agencies.

They are making alliances in Panama with several institutions including the National Association for the Conservation of Nature (ANCON), which has the Punta Patiño forest reserve under its supervision, and they have been doing great work for years.

Punta Patiño has 30,000 hectares that include mature secondary forests and primary jungles, as well as a large sector of mangroves in the Gulf of San Miguel declared a wetland of international concern in 1993, according to the Ramsar Convention.

“Just as ANCON in Panama, there are more institutions or entities in other countries of the world that are also contributing with their reserves, so that it can be monetized through carbon capture with environmental crypto assets”, concluded Ceja.