Liverpool to use blockchain technology to become world’s first climate-positive city
Liverpool City Council has announced a new partnership with a blockchain platform company to offset more than 110% of its carbon emissions, with the city announcing its bid to become the world's first climate-positive city by the end of 2020.
Liverpool City Council (LCC) will conduct a year-long trial with the Poseidon Foundation to use a blockchain platform to offset the carbon impact of all products and services in the city by supporting global forest conversation projects.
The technology will play a pivotal role in the Council’s newly announced ambition to become the first climate-positive authority in the world by 2018 and the first climate positive city by 2020.
Joe Anderson, Mayor of Liverpool said: “I’m delighted we have signed this partnership agreement with Poseidon to connect Liverpool directly with climate positive projects across the globe.
“Poseidon’s technology is the first of its kind to truly deliver a solution to governments, businesses and individuals around the world to help reverse the causes of climate change and I am thrilled this agreement will bring this cutting-edge technology to our city.”
Liverpool City Council is striving to reduce its carbon impact by 40% by 2030 and is currently installing more than 15,000 energy saving LED streetlights across 2,000 streets to reduce streetlight energy consumption by 82%. Since 2012, Liverpool has cut carbon emissions by more than 558,000 tonnes.
As part of the trial, the Poseidon Foundation, which is working with Liverpool-based BAC Mono to create world’s first climate-positive car, will move its operations to the city. The Foundation will work with local schools and businesses to educate the public on reversing climate impacts.
Blockchain is viewed as one of the ‘essential eight’ emerging technologies by PwC that will play a crucial role in tackling issues around climate and biodiversity. The Poseidon Foundation’s platform will act as an open source digital ledger that facilitates secure online dealings for the offsetting credits. Projects to benefit from the programme include restoration and conservation projects in the Amazon basin in Peru and near the Andes mountain range at the Cordillera Azul National Park.
The Poseidon’s Foundation, Laszlo Giricz said: “This is a ground-breaking partnership not just for Poseidon and Liverpool, but globally. For the first time, a city will use blockchain technology to go beyond rebalancing its carbon footprint – leading the way in the fight against climate change.
“Liverpool is a trailblazer a shining example to other cities in the UK and across the world on what can be achieved through harnessing the power of technology to meet one of humanity’s greatest challenges. And now that it is clear that our platform is fully scalable, it is time for other cities to take action.”
The organisation’s blockchain platform is already been used by Ben & Jerry’s to offset the environmental impact of producing ice cream. In just three weeks, more than 1,000 trees had been protected through carbon credit purchases at a London Scoop Shop in Wardour Street.
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I have always been lukewarm about carbon offsetting because once you have released your carbon the carbon has been released and paying somebody else not to release carbon is, well, not really balancing your carbon releases.
I was hoping that this article would be about clever new ways of improving public transport, insulation etc.
However it is good that Liverpool care.