By Derrick Emsley, CEO & Co-founder of veritree
The Potential of Nature-based Solutions
Nature-based solutions serve as a powerful and sustainable avenue for the preservation and revitalization of our environment. Ranging from reforestation and habitat restoration to sustainable agriculture and coastal protection, these practices offer a plethora of benefits. They create cost-effective, enduring strategies to combat climate change, bolster biodiversity, elevate water quality, and fortify natural resilience. The adoption of such solutions not only safeguards our ecosystems but also catalyzes economic prosperity and uplifts local communities.
Unlocking the Finance Gap
The restoration of nature requires substantial financial backing, with projections indicating a monumental USD 8.1 trillion requirement by 2050 for effective conservation and restoration efforts, as outlined by the World Economic Forum. Unfortunately, the current funding falls drastically short of this mark, emphasizing the pressing need for governments, businesses, and organizations to amplify their investments in nature restoration.
Embarking on the Restorative Business Model Journey
A little over a decade ago, we built a consumer brand called tentree that planted ten trees for every product sold, demonstrating the harmonious coexistence of profitability and environmental restoration. tentree has now collectively spearheaded the planting of over 105 million trees worldwide in collaboration with our community.
However, along our journey, our community and our stakeholders began questioning the impact and accountability of such endeavours. In response, tentree pioneered veritree.
veritree was designed to inspire others to follow in tentree’s footsteps and embrace the ethos of a restorative business. This platform was architected to provide transparency, measurability, and verification of nature-based solutions, instilling trust, awareness, and accountability among consumers, investors, businesses, and citizens globally.
Using on-the-ground technology to monitor and gather evidence from tree planting activities, veritree consolidates and authenticates data for its users. This includes geo-tagged images and videos and GPS-tracked planting paths. Beyond proof of planting, veritree integrates ground sensors, dendrometers, soil sensors, bioacoustics monitors, and trail cameras to meticulously monitor restored ecosystems. The amalgamation of this data with satellite-derived geospatial data enables users to effectively analyze and even forecast outcomes for reforestation projects.
Businesses Embracing veritree for Restorative Impact
From massive shipping conglomerates like Berge Bulk to prominent financial institutions like Capital One, veritree’s corporate partners are embracing restoration and integrating it within their own unique business models. Whether it’s tree planting tied to transactions, services rendered, or through their own distinct metric, each partnership serves as a catalyst for unlocking essential finance for restoration efforts.
A prime example is veritree’s collaboration with Scovan, a joint endeavour to plant and verify trees with every PadX sale. This partnership empowers Scovan in their ambitious journey to plant 100,000 trees by 2027 and helps to exemplify Scovan’s commitment and dedication to sustainable practices in the energy sector.
Conclusion:The restorative business model characterized by leaders like Scovan underscores how businesses can drive substantive environmental impact while upholding profitability. By infusing nature restoration into their operational frameworks, businesses can significantly contribute to global restoration endeavours.
As we confront the challenges of the climate crisis, the restorative business model illuminates a pathway toward a sustainable future where economic prosperity aligns with environmental stewardship.
By working together across businesses, governments, and organizations, we can close the funding gap and strive to restore and protect nature for future generations.
Originally published in IGNITE V8.
