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Blockchain company Bitfury has teamed up with the United Nations Development. Programme (UNDP) for a forest project in Kazakhstan, The Astan Times reported.
Bitfury and the UNDP are set to sign an agreement later this month with the country’s Ministry of Ecology, Geology and Natural Resources to create forestland in Pavlodar. The objective is to compensate for their carbon footprint in Kazakhstan.
Kazakhstan made a commitment in the 2016 Paris Agreement to reduce its greenhouse gas emissions by 15 percent in the next 10 years.
The UNDP and Bitfury agreed on Dec. 12 to preserve and build up the forestland in the country. Their partnership is a sign that they are moving towards a sustainable and low carbon consumption.
“This is the first carbon reduction initiative for Kazakhstan and we hope that it will accelerate the country’s efforts to reduce carbon dioxide in partnership with the private sector. These practical solutions will require institutionalization and expansion,” said Yakup Beris, UNDP Resident Representative in Kazakhstan.
Bitfury CEO and co-founder Valery Vavilov shared that they fully support the UNDP goals for sustainable development that aim to protect the planet.
Last month, Bitfury launched enterprise blockchain platform Exonum Enterprise, which is the expansion of its blockchain framework Exonum into a full-service offering. The Exonum Enterprise is designed to boost the adoption of blockchain and make institutions more trustworthy.
