Earth Exchange Rewards Emerge as Potential New Market for Climate Mitigation
August 08 2024 - 8:08AM
PT Global, the Indonesia exclusive agent for Promax Digital, a
digital arm of Promax United Group of Companies, and Earth
Exchange based in Abu Dhabi, UAE, is proud to announce the signing
of Indonesia’s first official Carbon Rights Agreements with YAYASAN
MASYARAKAT TEKNOLOGI PENGHIJAUAN for the restoration and
conservation of 5,792 hectares of coastline. The deal marks a
significant milestone in the country's efforts to combat climate
change and reduce carbon emissions.
From Left to Right: Mr Marcos Chow, Bpk. --
Heru Gunawan, -- Mr Jens Moewes, Bpk. -- Sumadi Sudjarmin, -- Ms
Sara Quek, -- H.E. Vivek Varma, Bpk. -- Syahrial Nasution, -- Mr.
John Zachary -- Mr Schad E. Brannon
The Earth Exchange carbon mitigation platform is designed to
empower climate mitigation projects globally, helping countries and
stakeholders realize their goals and fostering collaboration across
borders.
Schad E. Brannon, CEO of Promax Digital, commented: “We believe
climate change is a pressing issue that requires immediate and
effective funding solutions. The Earth Exchange addresses this need
by offering a unique platform that creates an innovative approach
that provides funding for implementing climate mitigation projects.
We are thrilled to support our partners in Indonesia.”
How it works: Carbon rewards are voluntary units of value that
allow individuals to earn LCD tokens, (the Lowest Carbon
Denominator) token which represents the first ten (10%) of
sequestering capability per square meter of earth. Being defined as
the "stable coin of the environment" that companies and concerned
individuals can purchase EEX-NFTs to offset carbon emissions and
ultimately fund conservation projects. One LCD token is equivalent
to the sequestering of one-third ton of carbon dioxide.
Interested parties purchase EEX-NFTs that contribute to scaling
the voluntary carbon markets world-wide and help conservation and
restoration projects and in turn receive carbon rewards based on
the amount of carbon removed from the atmosphere, thus allowing
concerned parties including individuals, groups, corporation,
municipalities, governments to achieve “carbon neutrality” through
the acquisition of LCD tokens. Companies may either harvest rewards
by purchasing EEX-NFTs or use their carbon rewards to mint LCD
tokens which they may sell their LCD carbon tokens to other
companies looking to reduce greenhouse emissions.
About PT Global Lingkungan Indonesia
PT Global Lingkungan Indonesia remains dedicated to supporting
climate mitigation projects by providing adaptable solutions and
facilitating strategic funding through Promax Digital and the Earth
Exchange. This commitment ensures the successful implementation of
essential climate mitigation initiatives in Indonesia.
About Earth Exchange
The Earth Exchange (A Promax Digital smart and green tech
initiative) is a Web3 platform that provides innovative funding
solutions for climate mitigation programs worldwide. As an
innovative digital platform, it champions technologically driven
environmental initiatives and facilitates financial transactions
for business projects, dedicated to reducing carbon footprints.
Earth Exchange mostly focuses on restoration of coastlines and
forest conservation and maintenance of mangroves, seagrasses to
sequester carbon dioxide emissions. Coastal restoration like
planting mangroves and sea grass are able to sequester up to ten
times the amount of carbon than land counterparts, and forest
conservation through employing vast cleanup efforts lead by
indigenous communities creates jobs and protects forests from
wildfires.
The Earth Exchange mission is to support the urgent call for
standardized processes in addressing environmental challenges,
aligned with the worldwide imperative for a $125 trillion
investment by 2050.
For more information about Earth Exchange, please visit
www.eex.earth
CONTACTS
For Business InquiriesMr. Marcos Show,
ChairmanPhone: +62 812-1278-8853Mrs. Sara Quek,Business Development
DirectorEmail: saraq@saraq.my
Media & Communications ContactMatt Bird
CommPro Worldwide (Impact Agency) +1 646.401.4499
matt@commpro.com www.commpro.com
The Future is Now DAO
media@thefutureisnow.community
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/20bacd70-9d50-4797-80cd-e220545bd254