50,000 Tonnes of Digital Carbon Forwards Available for Sale on Evercity Platform

We're excited to announce that the project developer 1MTN is set to make 50,000 tonnes of digital carbon forwards available for sale on Evercity’s Platform. This will be facilitated by the Hedera Guardian, which provides an automated interface for carbon project structuring as well as outstanding transparency features to boost the trust of global investors.  

Through their Uganda Bamboo Planting Project, 1MTN will  be able to revitalize 10,000 hectares of leased, degraded private land with fast-growing native and naturalized bamboo species well-suited to the local Ugandan soil conditions. But like every nature-based carbon removal project, 1MTN will be required to invest heavily today, for credits that won’t be issued for years into the future.  New upfront financing mechanisms are needed to bridge this gap. 

Digital carbon forwards – contracts for the future delivery of carbon credits – are Everycity’s answer to this problem.  By utilizing the Hedera Guardian, a cutting-edge open-source platform that leverages the power of blockchain technology, Everycity’s digital carbon forwards will be maximally transparent and secure, with auditable links to 1MTN’s work on the ground in Uganda. 

Built on the public Hedera network, the Guardian offers immutable records of transactions, ensuring that all carbon credits are accurately tracked and verified. This is achieved with minimal energy consumption, aligning with the sustainable purpose of carbon reduction and removal. This partnership will also give customers extremely fast, cost-effective transactions thanks to the best-in-class scalability of the Hedera network.

Carbon forwards have already been issued on the mainnet, marking a significant step forward in digitalizing the VCM. Interested buyers can easily access these digital assets via Evercity today. For more information on the Platform or to make a purchase, please contact Evercity at info@evercity.io.

About Evercity‍

Established in 2021 in Berlin, Evercity is an award-winning platform that streamlines green debt and carbon origination. Evercity platform significantly streamlines green finance project management, reducing time and costs by up to 70%. It combines blockchain with monitoring tools to increase data transparency avoiding greenwashing and enabling the issuance of fully traceable green digital assets: green and sustainability-linked debt instruments, carbon credits and forwards.

About 1MTN

1MTN is an agroforestry company harnessing carbon markets to restore degraded lands across Africa and address shortages in carbon removal credits, food crops, sustainable biomass, and timber. As the founder of the East Africa Carbon Markets Forum and an adopter of Verra’s latest afforestation methodology (VM0047), 1MTN upholds the highest sustainability standards in all their projects. By working closely with local communities, 1MTN  enhances livelihoods, promotes equitable development, and contributes to eight UN Sustainable Development Goals. Headquartered in Tallinn, Estonia, 1MTN operates with boots-on-the-ground teams in Uganda and Kenya.