The Challenge: How can technology shield and restore terrestrial ecosystems?
Supported by: Novartis
Business and ecosystems are connected. Companies affect ecosystems because they rely on their provisioning services, such as freshwater, food, land, to name a few. The world’s ecosystem services have been degraded over the past 50 years and we continue to deplete our natural resources at an alarming rate. While many of the effects are felt locally first, the long-term consequences are global and the scale of change is highly relevant to business, presenting risks and opportunities.
Expanding human requirements and economic activities are placing an ever-increasing pressure on land resources, creating competition and conflicts in acquiring natural resources, resulting in their suboptimal use. By examining all uses of land in an integrated manner, it is possible to minimize conflicts, to make the most efficient trade-offs and to link social and economic development with environmental protection and enhancement, thus helping to achieve the objectives of sustainable development.
By scaling up research and development, technological innovation, investing in natural infrastructure and implementing responsible sourcing policies, companies play an integral part in preserving and restoring vital ecosystems, promoting the sustainable use of land, water and forests, while retaining consumer confidence in their product offerings. At Novartis, we aim to drive sustainability through our own operations, as well as those of our suppliers, and we have set ambitious targets to minimize our impacts on climate, waste and water. We have already made significant progress and our ambition is to be a catalyst for positive change and a leader in environmental sustainability.
Novartis is proud to support this Lead2030 Challenge for SDG 15. The Challenge called for innovative initiatives which utilise data/digital/novel technologies to generate positive action, protect, restore and sustainably use the services provided by natural land ecosystem.
Treeconomy is an ambitious, impact-driven start-up on a mission to combat climate change, restore biodiversity, and improve rural livelihoods by accelerating responsible reforestation.
The company is pioneering an integrated suite of remote sensing, data science, and green finance tools to revolutionize the voluntary forest carbon market and address the fundamental financial barriers that oppose reforestation and conservation forestry. In short, Treeconomy is working to align personal incentives and planetary wellbeing to effectively scale ecosystem restoration.
Using remote sensing and machine learning technology to measure and monitor forest carbon stocks, Treeconomy is bringing sorely-needed trust to nature-based offsetting. By generating high-quality carbon offsets that are real, rigorously quantified, meticulously managed, and totally traceable, the company increases carbon revenues to rural landowners, while supporting buyers to invest in truly impactful and ecologically sound reforestation projects. Treeconomy dramatically shrinks the carbon supply chain, acting as the only intermediary between the project and the end buyer.
According to Co-Founder, Rob Godfrey, “Treeconomy is delighted to embark on this exciting partnership with Novartis as they work to embody genuine corporate leadership on issues of nature and climate. We look forward to sharing knowledge, refining ideas, and piloting new solutions over the coming year as we aim to scale our impact.”