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Blockchain Technology Aims to Prevent 400 Million Tons of CO₂ Emissions

28/08 21:15

According to Cointelegraph, wealth tokenization platform Arx Veritas and tokenization infrastructure firm Blubird are leveraging blockchain technology to significantly reduce carbon emissions. The two companies have tokenized $32 billion worth of Emission Reduction Assets (ERAs) on Blubird’s Redbelly Network, setting a new benchmark for sustainability financing and tracking. This initiative involves the tokenization of assets such as capped oil wells and coal mines, which collectively represent over 394 million tons of prevented CO₂ emissions. This effort is recognized as the largest tokenization initiative aligned with the Environmental, Social, and Governance (ESG) framework. Blubird has reported strong institutional interest in the tokenization of ESG-aligned assets, with over half a billion dollars in transactions currently under negotiation. The firm is nearing the completion of a significant institutional purchase. Real-world asset (RWA) tokenization involves minting financial and tangible assets on the blockchain, offering benefits like shared ownership, increased investor accessibility, and continuous liquidity. ERAs are real-world projects that prevent CO₂ and greenhouse gas emissions, such as decommissioning coal mines or capping oil wells. Corey Billington, co-founder and CEO of Blubird, highlighted the growing institutional demand for tokenized assets, predicting that trillions of dollars will transition to blockchain in the coming years. He stated, "In the coming years, we’re going to see trillions of dollars in assets move on-chain as institutions chase new liquidity, efficiency, and global access." Blubird has already lined up more than $18 billion in active deals and plans to tokenize an additional $18 billion worth of assets by 2026. This expansion aims to reinforce Blubird's position in the RWA industry and is expected to prevent an additional 230 million tons of CO₂ emissions. Combined with the existing $32 billion in tokenized ERAs, Blubird estimates a total environmental impact equivalent to 600 million tons of prevented CO₂ emissions.

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