NEM Group partners with Rainforest Foundation US to empower communities to save the rainforest
At NEM Group, we believe in community and the importance of ecosystems. We want to be part of the change to create a new, fairer economy and to enable our community to participate and contribute.
That’s why we are proud to announce our partnership with the Rainforest Foundation US.
Rainforest Foundation US is a non-profit organization whose mission is to tackle deforestation and the climate crisis by supporting the rights of indigenous peoples in the rainforest.. They seek to empower indigenous communities that live in the rainforest, providing them with the tools, training, and funding.
According to data from the Rainforest Foundation Norway association, a rainforest monitoring organization, only 36% of the planet’s 14.6 million square kilometers of tropical rainforests are currently intact. Efforts to reduce deforestation by 50% in 2020 have not been fulfilled. Meanwhile, deforestation continues unhampered. In addition to this, indigenous people manage lands that harbor 80% of the planet’s biodiversity but hold legal ownership to only 10% of that territory.
The collaboration agreement between NEM and the Rainforest Foundation US
Thanks to the partnership between NEM and Rainforest Foundation US, the NEM community can now use their XEM — the original NIS1 token — to make donations to protect the rainforest. It is yet another real-life use case for XEM, and a crucial one — fighting climate change.
At NEM we recognise the critical role that the rainforest plays in the biosphere, absorbing CO2 and creating large amounts of oxygen. Protecting these natural “lungs of the earth” while empowering indigenous communities is a cause we fully support.
The potential of blockchain technology for environmental protection
NGOs are continually looking for new, innovative ways to address funding challenges, with management expenses, commissions, and intermediaries eating into donations. Raising funds and then providing transparency about where those funds are allocated, ensures a higher degree of trust and engagement for donors.
Symbol is the solution for this. By registering transactions in an open, public, and fully transparent ledger like Symbol, communities and individuals can donate confidently to diverse social and environmental causes without cause of concern. The blockchain’s immutability and traceability also help NGOs to comply with the new transparency regulations.
Thanks to NEM and Rainforest Foundation US, the NEM community can use their XEM to make a difference in the world. This just the beginning and we will be exploring exciting new ways to integrate NEM and Symbol with the Rainforest Foundation US in the future as we look to create a new economic model that benefits the many, not just a few.