Samsung Electronics America reportedly revealed details of its newly formed alliance with Veritree – a blockchain-powered climate solutions platform, to plant 2 million mangrove trees in Madagascar in three-month times. 

Specifically, the tree-planting project is reportedly included within the scope of Samsung’s nature-centric action plan on environmental sustainability, particularly to gather and isolate carbon dioxide (CO2) from the atmosphere.

The aim is reported to restore approximately 200 hectares of land, as well as complete the isolation of 1 billion pounds of CO2 within a 25-year timeframe.

Veritree was reportedly built by Tentree – reportedly functions as a sustainable apparel firm that plants ten trees for each piece of clothing it sells – which is also the entity taking care of the logistics for the initiative. 

Veritree reportedly plans to utilize blockchain for the management of the reforestation process and verification of every tree that is planted.

Veritree – developed as an accounting network – reportedly has a goal of offering an enhanced level of transparency to the whole process, from field-level data collection, site planning, tree inventory to impact monitoring. 

Tree planters will reportedly have the ability to use their phones for keeping track of trees that a sponsor has paid to plant, essentially forming a digital map of the corresponding digital trees. 

Samsung’s head of corporate sustainability Mark Newton reportedly remarked that making investments in innovative technology as well as what is referred to as “nature-based solutions” is crucial for fighting against climate change. 

Per Samsung, mangrove trees are reportedly recognized widely as the nature-based carbon sink with the highest efficiency. Mangrove roots – normally submerged in water – will capture and store CO2 in the soil.