In an unprecedented move, SwissX Island Ventures, in collaboration with the Farmers Antigua Trust, a governmental entity dedicated to environmental and health advancements, has launched a groundbreaking initiative spanning an astonishing 28 million acres of coral in the Caribbean, between Antigua and Barbuda. This project, a beacon of hope in the fight against climate change, involves regenerative sea grass farming, a technique that not only helps sequester carbon dioxide but also creates vital blue carbon credits.
Find out more November 24 25 and 26 Swissx Ganja Farmer Crypto Fest
The venture’s uniqueness lies in its partnership with Carbon Core, a renowned Swedish and Emirates-based agency specializing in carbon footprint verification, receiving backing from both the Swedish and Antiguan governments. Adhering to the stringent REDD++ verified carbon standards, this initiative boasts the capability to sequester a staggering 100 million tons of carbon dioxide.
Financial innovation is at the heart of this project, with the blue carbon credits being supported by futures contracts on the Swissx Marketplace. The framework integrates IBM Agriculture’s global measurement standards and the Swissx Ripple XRP wallet, linking directly to Antigua’s trillion-dollar Sovereign Wealth Fund, Climate Haven Antigua Trust Company.
In a remarkable move towards wealth redistribution and global engagement, the SwissX Ripple will redistribute wealth generated from these futures contracts worldwide, including with other Small Island Developing States and West African nations. This effort is set to establish the first-ever Carbon Credit Registry specifically for Black and Brown countries.
A significant milestone was achieved on Christmas Day 2023, marking a historic moment for the citizens of Antigua and Barbuda. Each of the approximately 110,000 individuals received $1 million in carbon credits, tradable on the open market. This milestone was celebrated with educational workshops and cultural events, introducing the populace to the SwissX Climate Coin.
This ambitious project is more than an environmental conservation effort; it’s a leap forward in carbon sequestration and economic development, especially for small island states. By merging advanced technology, international cooperation, and a dedication to sustainability and equitable wealth distribution, it stands as a shining example of what can be achieved in our global fight against climate change.