Indonesian technology company Aeroterra & Eldera Matadata Presisi has been selected to lead an innovative pilot project designed to evaluate the value of Kenya’s carbon credit assets. This appointment represents a significant advancement in environmental technology and sustainability initiatives in Africa as the push for the embrace of carbon markets becomes a reality.
The project is supported by prominent sponsors, Banyan Investment Banking & Hedge Fund—a progressive digital bank headquartered in Connecticut—and the pioneering Quantum Metal Group. The sponsors cited Aeroterra & Eldera Matadata Presisi’s state-of-the-art technology as a crucial factor in their decision when it comes to the evaluation of carbon credits.
Dr. Thana Balan of Banyan Investment Banking & Hedge Fund said that this is a gesture of goodwill and honor of the commitment made in late May to appoint a technical partner for the project.
“This partner will assist the Government of Kenya in accurately measuring data on the country’s carbon deposits in real-time. The data will subsequently be submitted to Verra for validation,” stated Dr. Thana Balan of Banyan Investment Banking & Hedge Fund.
Verra, a US-based organization, is renowned for its stringent standards in the Verified Carbon Standard (VCS) Program, which will be essential in validating the data collected during this project.
The program will commence once Aeroterra & Eldera Matadata Presisi secures all necessary regulatory approvals, a process that is currently in progress. The consortium has allocated $650,000 to this endeavor, which will be financed through Letscoin, a digital complementary currency introduced last month.
Dr. Thana elaborated that Aeroterra & Eldera Matadata Presisi will utilize drone and AI-driven technology to assess Kenya’s carbon credit assets. These advanced drones are proficient in precise data collection and play a critical role in soil seeding, a vital process for rejuvenating Kenya’s lands.
Upon the successful completion of the pilot, the project is anticipated to expand across the broader region, becoming a cornerstone of the consortium’s Investment Bank Humanitarian Contribution Campaigning Programme.
In related developments, Banyan Investment Banking & Hedge Fund recently launched Letscoin, a digital currency aimed at empowering local communities. This currency enables merchants, entrepreneurs, and other users to participate more effectively in the digital economy. Letscoin has also garnered financial backing from Germany’s Deutsche Bank, enhancing its potential impact.
Furthermore, Banyan Investment Bank announced a significant $100 million funding agreement with Quantum Metal Group to support their gold trading operations in Africa. As part of this agreement, Banyan will serve as the custodian bank, holding 2.5 tonnes of gold on behalf of Quantum Metal Bullion Pty Ltd, the beneficial owner.
A Carbon Data Project of this nature typically involves several key activities:
- Monitoring Emissions: Tracking and quantifying carbon emissions from various sources, including industries, transportation, and agriculture.
- Carbon Sequestration: Measuring the amount of carbon being absorbed by natural processes such as forests, soil, and oceans.
- Data Analysis: Analyzing collected data to identify patterns, trends, and the impact of carbon emissions and sequestration.
- Reporting: Providing detailed insights and reports to aid in developing effective carbon management and reduction strategies.
- Compliance and Verification: Ensuring that data collection methods comply with international standards and verifying the accuracy of the data.
Such projects are essential for developing strategies to combat climate change. They enable governments and organizations to make informed decisions, reduce carbon footprints, and enhance sustainability efforts through carbon credit assets evaluated.
By leveraging advanced technology and international collaboration, initiatives like this pave the way for a more sustainable future.
