Single.Earth launches nature-backed currency MERIT
Source: https://irishtechnews.ie/single-earth-launches-nature-currency-merit/
The Global ESGFinTech100 lists the most innovative tech companies every financial institution needs to know when they consider and develop their ESG assessment and performance improvement strategies. Single.Earth is one of the 100 companies chosen by a panel of industry experts and analysts based on a study carried out by data and research firm FinTech Global on over 500 ESG tech companies. World Summit Awards (WSA) said Single.Earth was nominated as the best national digital solution for Estonia for its annual award for digital innovation with an impact on society. With the nomination in the category Environment and Green Energy, Single.Earth is shortlisted for the WSA finals later in the year. MERIT is a utility token that represents the value of nature and, more specifically, its ecosystem services. Each token represents 100 kg of CO2 captured in a biodiverse forest. The token can replace the classical carbon instruments and the voluntary market by looking at the world more holistically and factoring in the species and habitats besides carbon. Single.Earth has focused on sorting out the shortcomings of today’s carbon credits, tackling the questions about biodiversity loss and why net-zero policies are still translating to mass extinction, although possibly on a somewhat less overheated planet.