The leading full-service blockchain technology company, Bitfury is said to be working with the United Nation Development Program (UNDP) on a forest project in Kazakhstan. Reportedly, an agreement will be finalized later this month with the Kazakh Ministry of Ecology, Geology and Natural Resources.
The forest project that is said to help the nation to reduce its greenhouse gas emissions by 15% will help create forestland in the nation’s Pavlodar Region. Notably, the Kazakh owns 29 million hectares of forest with most of the land facing the threat of illicit forest fires and logging.
Thus, the partnership will start the project by creating 20 hectares that will consume the carbon dioxide generated by the local coal-powered electricity providers to fuel Bitfury’s operations, in the hope to compensate carbon footprint by 100–110%.
Reportedly, the nation has already reduced its annual energy consumption by 25–45% over the past five years via a pilot focused on heating residential buildings, with the help from the UN. Yakup Beris, UNDP Resident Representative in Kazakhstan said this is the first-ever initiative in carbon reduction in Kazakhstan and hope it will accelerate the country’s effort.
What's Your Reaction?
Nurul is an English Language graduate who is highly passionate on writing, she literally breathes on it. An avid reader and a critical thinker, she covers on blockchain news during day and weeps at sad novels at night.