EMURGO Middle East and Africa venture arm invests $250K in blockchain carbon market tech entity

 

 

Cardano blockchain suppored venture capitalist, EMURGO Africa and Middle East, has invested $250K in African blockchain carbon market tech company, ChangeBlock.

Changeblock, a carbon market technology company, aims to revolutionize the carbon trading landscape by leveraging the power of blockchain technology. With this investment, EMURGO Africa aims to foster sustainable development and environmental responsibility while driving transformative change within the carbon market.

"Our investment in ChangeBlock is in line with our commitment to foster the development of climate change reversal technologies and impactful solutions on Cardano’s third-generation and environmentally-sustainable blockchain.” Said Ahmed M. Amer, CEO of EMURGO Africa and Executive Director of EMURGO MEA.

 

“Together with ChangeBlock, we hope to bring the world’s regulators, business leaders, and global changemakers to foster and double down on their commitment to a global net zero strategy that is both economically viable and monetizable" Amer added.

“Our shared vision with EMURGO Africa is to turn sustainable action into a valuable, tradeable asset for Africa. By leveraging the power of blockchain, we're creating a transparent and efficient market that incentivizes sustainable practices and attracts climate-focused investments.” said Billy Richards, CEO of Changeblock

According to the news, this investment aligns with EMURGO Africa's overarching vision of advancing blockchain adoption and fostering economic growth and social progress in Africa and the Middle East.

This comes as the UAE based Venom Blockchain has signed an MOU ( Memorandum of Understanding) with the UAE Ministry of Climate Change and environment to launch the first blockchain enabled national system for carbon credits.