Everledger offers compensation based on its own blockchain

Track-and-trace blockchain pioneer Everledger is using its technology to help the diamond industry offset its carbon footprint.

Credits on sale to companies to combat the emission of greenhouse gases

Everledger is a startup born in 2015, based in London, which presents itself with the sole mission of "making supply chains more sustainable". The company's new platform, launched with India and Shairu & Atit Diamonds, based in the United States, offers participants in the diamond industry the opportunity to purchase credits in carbon reduction projects.

These projects selected by the platform work to combat greenhouse gas emissions by planting new trees, reducing deforestation, providing access to clean water and investing in renewable energy. Fred Meyer and Littman Jewelers in the United States will be the first retailers to use Everledger's carbon offsetting feature.

The carbon footprint in the production processes

Everledger, which began tracking down the origin of diamonds in 2015 using an authorized blockchain, is making sustainable procurement the dominant theme across the range of products it tracks, combining what Leanne Kemp, Everledger's CEO, defines "value and values".

The customers of the platform, including Shairu & Atit Diamonds, will also be able to provide consumers with carbon footprint data from their production processes in real time, with sustainability reports publicly available on the Everledger platform.

"Earth Day is the right day to launch this new solution, as it has the objectives of the Paris Agreement and the United Nations Sustainable Development Goals within it," said Kemp on Wednesday 22 April on the occasion of the 50th anniversary. of Earth Day.

"This is the first time that consumers will be able to access diamond carbon footprint information on the blockchain, via the Everledger platform. It is also the first time that it will be possible to offset carbon on a blockchain jewelry platform. " This is Everledger's concrete response to the global demand for greater sustainability within the production processes.

The future lies in blockchain certificates that verify the eco-sustainability of businesses

Looking beyond precious stones, Everledger is also involved in the sustainable monitoring of the supply chain of rare earth minerals, such as cobalt and lithium, used in batteries and plans to collaborate with the Hypermateger stablemate Circulor blockchain.

Carrie George, Everledger's vice president and sustainability officer, said the new platform will provide blockchain certificates to verify energy efficiency and renewable supply efforts. "We are able to connect stakeholders faster and more directly than ever before, to focus their time and money directly on the impact they want to achieve," he said.

What do you think? The future seems to revolve more and more around cryptocurrencies and decentralized systems. Leave your comments below!