Yesterday, The HBAR Foundation, a philanthropic subsidiary of Hedera Hashgraph, announced the creation of a $100 million Sustainable Impact Fund (SIF). The money will be used to support solutions that use the Hedera DLT network and promote changes in line with UN Sustainable Development Goals (SDGs).
These projects will likely target the measurement of carbon emissions, tokenizing carbon offsets and removals, and financial projects such as carbon exchanges and green bonds.
The SIF notes that due to the climate crisis, interactions between stakeholders are changing, and organizations are increasingly held to account for their environmental impact. Businesses are not yet equipped to integrate carbon and environmental markets effectively and efficiently into their practices in a transparent and auditable way. The HBAR Foundation believes that its underlying principle of tokenization will be the change necessary to drive high-quality and standardized transactions in the future.
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