Flowcarbon and Menthol Protocol Partner to Automate Broad Adoption of Decarbonization Solutions Across Blockchains, the Web3 Tech Stack, and Beyond.
As Blockchains and Applications Shift to Energy Efficient Computation Methods Menthol Protocol Will Use Flowcarbon’s Tokens to Offset Remaining Hard to Abate Emissions
NEW YORK–(BUSINESS WIRE)–#carbonmarkets—Flowcarbon, a leading provider of on and off-chain carbon reduction solutions, and Menthol Protocol, the first multi-chain decentralized protocol to automate decarbonization, today announced a partnership that illustrates the ability of blockchain technology to unlock and rapidly multiply positive social impact. Menthol Protocol’s tools, (i.e. middleware), can be integrated into any facet of the web3 tech stack including applications and blockchains to automatically calculate the entity’s carbon footprint and purchase a corresponding amount of qualified tokenized carbon and renewable energy credits. Most web3 entities, including some of the largest blockchains, have transitioned to more energy efficient networks. The Menthol Protocol and Flowcarbon partnership will make it easy for these entities to fully mitigate their carbon impact by offsetting the balance of emissions that cannot be further reduced, also known as hard to abate emissions.
“Our partnership with Menthol Protocol is another piece of the on-chain carbon reduction tech stack and furthers our work to expand access in order to drive funding to carbon projects around the world, and increase overall transparency and adoption,” said Phil Fogel, Chief Blockchain Officer, Flowcarbon. “Menthol Protocol makes it incredibly easy for on and off-chain entities to mitigate their carbon impact – they’ll no longer need to handle complex calculations and solve sourcing issues in order to obtain carbon credits.”
As blockchain technology becomes an increasingly utilized toolkit, digital ledger companies are responding to climate impact concerns resulting from the potential carbon intensity of their operations. New blockchains and applications are using proof of stake instead of proof of work, which has already drastically reduced emissions within the sector, and entities are now looking to offset any residuals. Menthol makes it possible for offsetting to occur at the individual, protocol, or blockchain level.
Menthol’s process involves curating high-impact tokenized carbon and renewable energy credits, calculating on-chain emission and energy consumption, and neutralizing emissions and dirty energy usage in partnership with impactful sustainability projects. The protocol commits that all tokenized offsets or credits that originate from these projects will have verifiable, measurable, and permanent benefits for both the ecosystem and the local community.
“Menthol Protocol is dedicated to maximizing the social impact of web3’s decarbonization efforts by supporting sustainability partners that can transparently demonstrate the largest measurable positive environmental impact, while improving the socioeconomic material conditions of local communities,” said Amir Sultan Malik Awan, CMO and Co-Founder, Menthol Protocol. “Flowcarbon provides the best in class solution for achieving this and will only continue to push the sector towards high quality solutions as they develop and scale carbon projects and different token options that incorporate co-benefits.”
In addition to carbon reductions, Menthol will offer impact tokens having benefits that contribute to the UN Sustainable Development Goals (UNSDG’s). Users are also able to set criteria for the kinds of projects and impact they want their mitigation efforts to support. Hereby, Menthol`s solution ecosystem is also geared towards use-cases beyond the regeneration of web3. In particular, Menthol will also empower off-chain companies and allow them to have an account on Menthol Protocol, putting their climate and Corporate Social Responsibility goals on auto-pilot leveraging web3 technology.
About Flowcarbon
Flowcarbon is a pioneering climate technology company that brings carbon credits onto the blockchain. Its mission is to make carbon markets accessible and transparent, enabling the efficient and early flow of capital to be invested directly into projects that combat climate change. Flowcarbon is committed to driving real impact for people, biodiversity, and the planet. To learn more about our work visit our blog.
About Menthol Protocol
Menthol Protocol`s vision is turning climate crises into climate action by making sustainability affordable, accessible, and integrated into everybody’s life. Hereby, Menthol offers an end-to-end solution, allowing any individual or organization to offset their historical carbon-footprint and automate climate-positivity for future carbon footprints with just a few clicks. Learn how to be part of our green-pilled movement on our socials and website.
Contacts
Nicole Shore
Head of Communications
Flowcarbon
Nicole@flowcarbon.com
