Unilever to Invest €1 Billion Into Climate Fund, Will Utilize Blockchain

Unilever, a global personal care brand, is working to prevent climate change in a variety of ways, and is currently attempting to do so by achieving net zero emissions by 2039. They plan to do so by utilizing blockchain, a report from CoinTelegraph notes.

The group will invest over €1 billion into what it calls the Climate & Nature Fund, according to a release. This fund will focus on landscape restoration, reforestation, wildlife protection, and so much more, it notes.

Blockchain technology comes into place via the supply chain method, which will help the group track different methods without the use of deforestation. Speaking on the matter is Alan Jope, the CEO of Unilever, who had said:

“While the world is dealing with the devastating effects of the Covid-19 pandemic, and grappling with serious issues of inequality, we can’t let ourselves forget that the climate crisis is still a threat to all of us. Climate change, nature degradation, biodiversity decline, water scarcity – all these issues are interconnected, and we must address them all simultaneously. In doing so, we must also recognise that the climate crisis is not only an environmental emergency; it also has a terrible impact on lives and livelihoods. We, therefore, have a responsibility to help tackle the crisis: as a business, and through direct action by our brands.”