Huntsville, Alabama— January 25, 2023 — Today, Intrinsic Methods announced that it will build a new carbon credit platform on the XRP Ledger (XRPL) to support reforestation worldwide, while providing full transparency on the credit lifecycle and pricing.
As an increasing number of corporations commit to net-zero emissions, the demand for carbon credits has skyrocketed in the past few years. However, the voluntary carbon market is struggling to keep up with the demand and has been hampered by a lack of transparency, verification bottlenecks and greenwashing. To meet climate goals on a global scale, carbon markets need enhanced mechanisms for project verification and certification; greater transparency in pricing and market data; and improved infrastructure for both buyers and suppliers.
In partnership with Ripple, Intrinsic Methods can take advantage of the XRP Ledger’s proven, enterprise-grade performance, scalability and built-in transparency to ensure the secure delivery of high-quality carbon credits. The XRP Ledger was built with sustainability in mind and is one of the first major carbon neutral blockchains.
Intrinsic Method’s nature-based carbon registry will exclusively list carbon credits generated by Rootmaker, a patented tree growing technology provider, and distribute over 10 million carbon credits representing 10 million tonnes of greenhouse gas emissions that have been removed from the atmosphere through the project. Using RootMaker’s patented container system and methodology, these trees grow two to three times bigger and faster than the average, and have a 95+% survival rate when planted. Intrinsic Methods works with government-backed reforestation projects in Mongolia, Brazil, Mexico and Canada.
“By bringing blockchain to global climate initiatives, the industry can more quickly verify and certify carbon credits, eliminating the potential for fraud, and even guarantee the offset is actually removing carbon for the long term,” said Jim Duggan, CEO, Intrinsic Methods.
Intrinsic Methods is working in close collaboration with Blockchain Laboratories, a web3 venture studio developing impactful DeFi applications that have environmental and societal benefits, to design the platform’s framework. Ultimately, the platform will tokenize carbon credits exclusively from verified reforestation projects using Rootmaker’s patented technology. These credits will be tokenized as non-fungible tokens (NFTs) on the XRP Ledger with the goal of bringing radical transparency and accountability of the carbon credit lifecycle to buyers, and support reforestation projects.
To win the race to limit the rise of temperatures to 1.5 degrees Celsius means the world drastically needs to reduce emissions, remove carbon from the earth’s atmosphere and protect our natural carbon sinks. Reforestation is among the trusted solutions to help us reach these global goals.
About Intrinsic Methods
Intrinsic Methods, LLC with its partner RootMaker Products Company based in Huntsville, Alabama are dedicated to changing how trees are grown. The persistent poor performance of conventionally grown trees that inhibits the billions of trees needed can be transformed by RootMaker technology. The patented RootMaker® system has a 20-year documented proof of 2 to 3 times faster growth as well as transplant survivability greater than 95%. For the carbon offset market, RootMaker® grown trees provide carbon sequestration annually of 200-300% more than any other growing system. Intrinsic Methods, LLC will offer FMUs developed by RootMaker Certified Growers to satisfy the demand for verifiable voluntary carbon offsets.