Samsung Electronics (OTC:SSNLF) America announced Monday at the CES Tech Conference in Las Vegas its partnership with veritree, a blockchain-based climate solutions platform, to plant 2 million mangrove trees in Madagascar over the next three months. veritree uses blockchain technology to manage the reforestation process and verify each tree that is planted.
The tree-planting initiative is part of Samsung’s nature-based action plan on environmental sustainability, specifically to capture and sequester carbon dioxide (CO2) from the atmosphere. The goal is to restore roughly 200 hectares of land and sequester roughly 1 billion pounds of CO2 over a 25-year period.