NEW YORK--(BUSINESS WIRE)--Filecoin Green, a Protocol Labs initiative to decarbonize the Filecoin Network, announced today the launch of its $1M Regenerative Finance (ReFi) Green Grants Program to fund ReFi Web3 initiatives globally. The Program is supported by the Filecoin Foundation, and has opened its portal for grant funding applications today.
ReFi takes a holistic look at each step of the environmental supply chain, challenging existing financial structures that have fueled the current climate crisis. Exploding carbon markets signal that ReFi is happening now, as archaic financial systems mature out of their fossil-fuel powered roots in favor of renewable resources. Web3 and blockchain technologies play a critical role in this transition, providing granular tracking functionality that enables accurate measuring, reporting and verifiable carbon accounting for the benefit of the planet.
The Green Grants Program will seek to support ReFi projects that are looking to transform financial structures with carbon-neutral, sustainable initiatives.
“Our work with storage providers through the Program is an expansion of our ultimate mission to prove that clean blockchain is not an aspiration, but reality,” said Orinayo Ayodele, program manager, Filecoin Green. “We’re building infrastructure that will allow anyone to make transparent and substantive environmental claims.”
“The Program is a part of Filecoin Green’s ambitious plans to match storage providers with renewables every hour, allow developers storing data on Filecoin to prove their carbon footprint, and to drive the total emissions of the network below zero,” said Alan Ransil, Filecoin Green project lead, “Our goal is to make it as simple as possible for every Filecoin Storage Provider to provably showcase how they are accounting for and reducing the environmental impacts of their operations, laying out a pathway to sustainability for the network. The Program is just one example of how passionate we are about this work, moving to expand our carbon neutral projects beyond the Filecoin Network.”
Projects or companies working in the ReFi space are encouraged to apply. This includes, but is not limited to, organizations working on reforestation, carbon credits, carbon negative solutions, and biodiversity monitoring and reporting.
Organizations can view rules of entry through the Filecoin Green Grants Portal, available here.
ABOUT FILECOIN GREEN
Filecoin Green is a Protocol Labs initiative to decarbonize the Filecoin Network. The initiative is spearheading a future of verifiably clean energy powered by crypto. By marrying blockchain’s granular tracking functionality with the information-sharing infrastructure of Web3, Filecoin Green will incentivize its network to reduce emissions. Starting with decarbonizing the Filecoin Network, the initiative then aims to build open-source tools that quantifiably measure and mitigate emissions generated from crypto-related activity. Filecoin Green aspires to prove that clean blockchain is not an aspiration, but reality. To learn more about Filecoin Green’s mission, visit filecoin.io.