dClimate Signs MOU With Democratic Republic of Congo to Protect the Congo Basin Rainforest and Peatlands

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Dec 12, 2023, 12:21 ET

DUBAI, UAE, Dec. 12, 2023 /PRNewswire/ --In a landmark move for global conservation efforts, U.S.-based dClimate, a leader in decentralized climate data infrastructure, has signed a Memorandum of Understanding (MOU) with the Democratic Republic of Congo (DRC) to safeguard the biodiverse-rich Congo Basin rainforest and peatlands. This historic MOU targets the preservation of hundreds of thousands of hectares, underlining a shared commitment to combat climate change through innovative environmental stewardship. The MOU was signed in Dubai during the 28th UNFCCC Conference of Parties (COP28).

dClimate will contribute strongly to the development of the DRC's national carbon registry, aligning with the guidelines of Article 6 of the Paris Agreement. This initiative is expected to store and sequester over 100 million tonnes of CO2, producing high-quality conservation credits. These credits are designed to bring integrity and transparency to global carbon markets, emphasizing data integrity, quality and standards as well as strong collaboration with the national government and local communities.

"This partnership with the DRC brings a new paradigm of accountability to carbon markets for conserving threatened ecosystems," said Sid Jha, co-founder of dClimate. "The Congo Basin rainforests and peatlands store vast amounts of carbon making the protection of these crucial areas key to safeguarding our planet's climate. By financially incentivizing environmental conservation monitored by leading technology, we can ensure benefits for local populations while protecting crucial rainforests and peatlands for future generations."

This partnership will be strategically utilized to fight deforestation, including community education, infrastructure improvement, and environmental training programs. Importantly, dClimate will lease the carbon sequestration rights for an initial ten-year period but will not lease or buy the land, thus preserving the national sovereignty and the rights of local communities.

"Under the leadership of His Excellency Félix Antoine Tshisekedi, President of the DRC and Champion of Climate Conscious Sustainable Development, we are proud to partner with dClimate in this groundbreaking initiative. This collaboration not only aims to protect one of the Earth's most vital ecosystems but also empowers our communities through sustainable development. It's a stride towards balancing ecological preservation with our national growth, ensuring that the guardianship of the Congo Basin serves the future of the DRC and the planet," said Stephanie Mbombo, Special Envoy for the New Climate Economy of the Democratic Republic of Congo.

The project's technology system includes the use of blockchain technology, and CYCLOPS, a digital MRV (measurement, reporting, verification) platform employing remote sensing technology and artificial intelligence to ensure commitments to prevent deforestation in the project region are upheld, and the project meets and exceeds its stated benchmarks. CYCLOPS enables real-time monitoring of the project, ensuring stringent oversight. dClimate will also aim to work with the DRC to implement the use of CYCLOPS for environmental monitoring across the country.

This project is in line with the UN's Sustainable Development Goals and Article 6 of the Paris Agreement, which seeks "to ensure international carbon markets are real, additional, and verifiable in delivering further reductions in greenhouse gas emissions."

About dClimate:

dClimate is a decentralized climate information and data infrastructure network helping businesses, governments and individuals unlock the power of data to accelerate verifiable climate action globally. dClimate empowers participants to easily access and share institutional-grade climate data and risk models with a global network of users and then enables them to easily build climate solutions to power long-term resilience. By indexing and organizing Earth's climate record on an immutable ledger, dClimate is facilitating scalable and transparent climate tech development and global access to critically important ecological data.

The company was founded by the same senior leadership team behind Arbol, a leading climate solutions platform that is expanding access to climate insurance and risk products for underserved stakeholders around the world. Its senior leadership team brings decades of combined experience across several industries, including finance, commodities, technology, AI and machine learning, ESG and sustainability and project financing. dClimate's Advisory Board includes Americans distinguished in technology, finance, and public service, including Sergey Nazarov, co-founder of Chainlink, investor and entrepreneur Mark Cuban, and Ambassador J. Peter Pham, former U.S. Special Envoy for the Great Lakes and Sahel Regions of Africa.

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SOURCE dClimate