The Carbon Removal cause will fund community-focused projects that are helping fight climate change and reduce the global carbon footprint.
- EarthFund launches the Carbon Removal DAO, led by Dr Lucy Tweed.
- The fund aims to fund community-led projects focused on fighting climate change.
- The community will receive the CarbonCommons tokens to vote on their favourite projects.
EarthFund, a DAO platform for crypto-native crowdsourcing for ideas that better humanity, announced the launch of the “Carbon Removal DAO” on its platform, which aims to find and fund community-led carbon removal projects and projects helping to fight climate change. The Carbon Removal cause aims to boost efforts toward reducing the global carbon footprint by funding real and meaningful nature-based initiatives and supporting local communities.
Announced Tuesday, July 20, 2022, the Carbon Removal DAO will allow global and local communities to pull resources, find projects, accept crypto donations, and vote on projects focused on the goal of fighting climate change and reducing carbon in the atmosphere. Led by Dr Lucy Tweed, the Carbon Removal cause joins the Chopra Foundation “Never Alone” cause, which launched its DAO on EarthFund to raise funds to improve mental health and wellbeing around the world. The latter has already raised over $116,000 through its DAO.
Speaking on the launch of Carbon Removal DAO on EarthFund, Dr Tweed said,
“The problem is that there hasn’t been a tool for collective, meaningful, and coordinated global action until now. The Carbon Removal cause is an accessible and inclusive community where people can come together as a collective to support sustainable community-led carbon removal projects and bring about real change.”
With the issue of climate change being heavily politicized or becoming more about good PR rather than the actual action, more can be done through collective effort, Dr Tweed, who received her PhD from Columbia University for research into carbon removal, added. Carbon Removal DAO will support communities around the world to reclaim sovereignty or their land by funding nature-based carbon removal projects that put local livelihoods and environmental justice front and centre. The DAO aims to solve the climate change debacle while respecting the local ecology and listening to the local communities’ output.
“This is what we built EarthFund for — to give ordinary people the tools they need to bring about real change on a global scale,” Adam Boalt, EarthFund CEO shared. “We can’t wait to see what the Carbon Removal DAO achieves.”
The DAO will focus on funding proposals and projects voted by the community including projects protecting carbon-rich ecosystems, restoring ecosystems, practising regenerative agriculture, and piloting new approaches to carbon removal.
EarthFund launches the CarbonCommons token
In addition to the launch of the Carbon Removal DAO, EarthFund announced it will be launching and giving the community members the CarbonCommons token, starting July 27, 2022. The token allows holders to vote on projects and proposals, and in turn receive $USDT rewards for their participation. It also gives holders access to an exclusive Discord channel with Dr Lucy Tweed and other climate activists, scientists, and advocates.
Notwithstanding, the holders can exchange their CarbonCommons token for $1Earth tokens, which provide utility on the EarthFund platform. The token will not be listed on a decentralized exchange or other trading platform.