Estonian climate tech startup Single.Earth won two international recognitions as it opened the sales of its nature-backed currency.
“We are on a mission to save nature on our planet. For a startup, this is often seen as too massive a challenge, but acknowledgment from different organizations ensures we are on the right track,” said Merit Valdsalu, co-founder and Chief Executive of Single.Earth.
Single.Earth launches nature-backed currency MERIT
Individuals and businesses can now buy MERIT as a nature-positive contribution to achieving sustainability goals or as a virtual asset that helps build the world’s first nature-backed digital currency and, thus, integrate nature protection into our daily lives.
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.
The international recognition comes at a time when Single.Earth launches the sales of MERIT, the world’s first nature-backed currency, which protects Amazon primary rainforests in Brazil and mature forests in Europe while also receiving a virtual asset representing the value of ecosystem services.
“We are on a mission to fight climate change and biodiversity loss to ensure our planet remains habitable for humans for generations to come,” said Valdsalu.
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.
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.
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.
“The big vision behind the MERIT tokens is to become a global currency of a sustainable Net Zero economy,” said Valdsalu.
First ever https://t.co/Uquxg49eTS giveaway winners announced! Congrats!
Next winners 5.10. Enter:
? Give us feedback to firstname.lastname@example.org
? Share on socials: anyone can save nature with #MERITtokens
? OR do something cool on socials that attracts our attention!#Giveaway pic.twitter.com/W9RkWiUWHr
— Single.Earth (@SingleEarth1) September 28, 2022
Single.Earth was founded by Merit Valdsalu and Andrus Aaslaid in 2019 with a mission to protect nature. The company’s investors include EQT Ventures, Icebreaker.VC, and Pipedrive founders Ragnar Sass and Martin Henk. The Tallinn-headquartered company employs over 70 people around the world.
Humans depend on a healthy planet
Since 1950, more than 662 million hectares of forest have been lost, and carbon concentration in the atmosphere has almost doubled. Human activities are causing environmental changes, leading to a lack of resources, rising temperatures, dying lifeforms, and eventually, a complete ecosystem collapse.
Science confirms that we’ve already crossed the safe operating limits for a livable Earth and heading towards an irreversible crisis. Climate change and biodiversity loss are humankind’s most significant challenges today.
You can save nature with MERIT tokens
MERIT is an innovative virtual currency that represents and protects (!) the work nature does to make the planet habitable. MERIT gives everyone a simple yet effective way to protect the natural world.
1 MERIT = 100 kg of CO? captured in biodiverse nature
Landowners join our platform
Single.Earth works with landowners, land managers, and organizations who commit to preserving their mature forests and abide by the Single.Earth Acceptable Forest Management Practices. Each MERIT is linked to and funds a specific plot of land.
Digital Twin evaluates lands
We use satellite data, geospatial engineering, and machine learning to represent nature with a global Digital Twin. The model allows us to automatically assess and monitor each plot of land for its forest coverage, carbon sequestration, and biodiversity.
Nature-backed MERIT is issued
Based on the evaluated ecological values, Single.Earth starts issuing MERIT tokens to the landowner’s digital wallet. Using blockchain technology, we can connect money with nature and create MERIT. Instead of harvesting, landowners get a regular income for allowing their forests to grow.
Buy, contribute, trade, spend, and more
Individuals and businesses can buy MERIT as:
1) a direct nature-positive contribution to achieving sustainability goals
2) or a virtual asset that helps build the world’s first nature-backed digital currency.
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