Liverpool City Council (LCC) recently announced their goal of becoming the “World’s first Climate Positive city by 2020.” And they will be achieving that goal with Poseidon Foundation’s partnership by reducing the city’s carbon emission.
The LCC has already started working on this and over the coming months, LCC and the Poseidon Foundation will be testing out a new carbon credit system which is expected to cut the city’s carbon emission.
According to the white paper published by Poseidon Foundation, they will be using blockchain to track the impact where it matters most. You might be surprised to know that the foundation is already working with the UK to cut the carbon footprint of ice cream production.
According to a local publication, the Liverpool City Council also mentioned that they will be using Poseidon’s blockchain platform to power their day to day operations to track all the carbon emissions. This would mean that the foundation would have to move their base of operations into the city as they will be playing a major role in the city’s goal of becoming a climate positive city.
If Liverpool does manage to become climate positive by 2020, you know that other countries will follow suit and start using blockchain technology to reduce their carbon emissions as well. We cannot imagine it being anyone else besides Beijing or Delhi because these are the two cities where they have one of the worst climate conditions in the world because of carbon emissions.
With the launch of this project in collaboration with the LCC, Poseidon Foundation will be conducting a 12-month pilot phase where tokenized carbon credits would be created and issued with the aim of offsetting the city’s climate impact by more than 110 percent. That is a very bold goal that the foundation has set to achieve in just a year.
With a city of over 500,000 inhabitants, we believe that it would take a lot more time than that to offset the carbon emissions. But LCC has already set things up for the pilot phase to succeed. According to the press release, the city council has installed more than 15,000 energy saving LED streetlights across 2,000 streets to reduce streetlight energy consumption by 82% which is mind-boggling.
Not only that, the LCC is making these moves in hopes that they would be able to cut their carbon emission by 40 percent by the year 2030. With these bold moves, we are starting to believe that they would be able to achieve that goal.
Joe Anderson, the Mayor of Liverpool said that Poseidon’s cutting edge technology is the “first of its kind” and it can help clients across the world to reverse the causes of climate change.
If only all the countries in the world were as blockchain friendly as Liverpool. We could’ve seen a revolutionary race for all the countries to become the first climate positive country in the world. But hopefully, Liverpool is leading the way to a bright future where we don’t have to wear air filtering masks when we go out for a walk.