NUSA DUA, BALI, INDONESIA, November 11, 2022 /EINPresswire.com/ — Singapore based climate tech company, Nature’s Vault, announces the launch of the grassroots SAWA Project during a speech given by CEO & Founder Phil Rickard at the B20 Investment Forum in Bali, Indonesia as a side event of the G20 Summit.
Nature’s Vault’s mission is to develop innovative and impactful solutions that combat climate change, namely greenhouse gas emissions and ecosystem degradation. In April the company launched the gold-linked Legacy Token (NVLT), the world’s first blockchain solution that protects ecosystems above and adjacent to potential mine sites through the tokenization and preservation of quantified, unmined gold reserves. The goal of the Legacy Token is to prevent environmental damage associated with unnecessary gold mining.
SAWA, the company’s second project, is a large-scale carbon removal and food security solution for South East Asia. The project is based in Indonesia, where the burning of crop residues result in significant greenhouse gas emissions. In addition, Indonesia is at risk of losing a majority of its farming workforce within a generation due to low income and lack of opportunity.
The SAWA Project addresses these problems through the diversion of crop residue waste to create BioChar, a carbon sink and proven soil amendment. The company purchases waste biomass directly from farmers, providing additional income streams, and then returns a portion of the BioChar produced back to farmers to promote the health of their fields. Nature’s Vault projects that the SAWA Project will remove over 10 million tons of CO2 over a 15-year period and will create an estimated 1,500 jobs for the Indonesian economy.
Phil Rickard commented “Crop burning is responsible for 3.5% of global Greenhouse gas emissions globally, of which Asia contributes 50%. Moreover, we need to remove 2.5 billion tons of Carbon Dioxide equivalent annually by 2030 to limit global warming to 1.5 Degrees. We are excited to be at the B20 Investment Forum to announce the SAWA Project which is designed to be a scalable, equitable and sustainable solution that targets the removal of 10 million tons of Carbon Dioxide equivalent over 15 years. And we are just getting started.”