EarthFund has announced the launch of a decentralized autonomous organization (DAO) with a focus on fighting climate change.
The Carbon Removal DAO, led by the Carbon Removal Cause founder Dr. Lucy Tweed, will aim to find and fund community-led carbon removal projects in order to ensure real, meaningful action on climate change.
Dr. Lucy Tweed received her Ph.D. from Columbia University for research into carbon removal and is starting a new role as an associate climate researcher at Cambridge University.
She founded the Carbon Removal Cause at EarthFund earlier this year and the newly launched DAO is aimed at turning the cause into a reality by supporting communities to “reclaim sovereignty of their land by funding nature-based carbon removal projects that put local livelihoods and environmental justice front and center.”
The Carbon Removal DAO helps people to come together to find projects, accept crypto donations, and vote on which carbon-removing projects around the world get the funding they need to make a difference.
The cause argues that funding nature-based initiatives on the ground is a practical short term solution to fight climate change because nature-based solutions are available now, while green technology and industrial approaches to carbon change are still years away from being ready to scale.
The DAO will fund initiatives that can support natural systems and enhance their uptake of CO2 by protecting and restoring carbon-rich ecosystems (forests, peatlands, salt marshes, mangroves, and seagrass beds).
Greenwashing, however, has become an issue within the climate action ecosystem. The focus on good PR instead of real impact has seen large corporate players promoting tree-planting projects that are poorly suited to the local ecology and disregard local people, while at the same time, driving land grabs and restricting local communities’ access to critical resources.
“Individual action is crucially important. Recycling, flying less, voting for progressive candidates, eating less meat… are all great. But to accelerate climate action we need to come together to create scalable models for broader systemic change. This is no secret”, said Lucy Tweed PhD. “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.”
Adam Boalt, Chief Executive Officer at EarthFund, commented: “We’re all incredibly excited for Dr Tweed to be launching her cause on our platform. Not only is she going to be conducting research into carbon storage at Cambridge University, but through her cause on the EarthFund platform, she’s also going to be growing a global community that gets rewarded for being the driving force behind finding and funding carbon removal projects around the world.
“This is what we built EarthFund for — to give ordinary people the tools they need to bring about real change on a global scale. We can’t wait to see what the Carbon Removal DAO achieves.”
Next week, on July 27, EarthFund will drop the CarbonCommons token, which provides users with the ability to vote on projects and proposals, get rewarded in USDT for their involvement and join climate activists, scientists, and advocates in an exclusive Discord channel.
CarbonCommons will not be listed on a decentralized exchange or any other trading platform. It can, however, be swapped for 1Earth on the EarthFund platform. 1Eart is listed on KuCoin, Uniswap and Gate.io.