Kenya to Launch Carbon Credit Assessment Project with Indonesian Tech Firms

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Drone
Drone

Kenya Partners with Indonesian Tech Firms to Assess Carbon Credits Using Drones and AI

Kenya is set to embark on a groundbreaking project to evaluate its carbon credit assets using advanced drone and AI technology, in partnership with Indonesian tech companies Aeroterra and Eldera Matadata Presisi. This pilot initiative is funded by Banyan Investment Banking & Hedge Fund, based in Connecticut, and Quantum Metal Group, with a total investment of $650,000.

This initiative, which marks the first project to be financed using the newly launched digital currency Letscoin, aims to provide real-time data on Kenya’s carbon deposits. Dr. Thana Balan of Banyan Investment Banking & Hedge Fund confirmed the selection of the Indonesian firms, highlighting their innovative technological capabilities.

“We have fulfilled our commitment to appoint a technical partner for this project, which will support the Kenyan government in accurately measuring the country’s carbon deposits in real-time. This data will then be submitted to Verra for approval,” said Dr. Thana Balan.

Verra, a US-based organization, manages standards in the Verified Carbon Standard (VCS) Program, ensuring the credibility of carbon credit projects worldwide.

Pending regulatory approvals, Aeroterra and Eldera Matadata Presisi will deploy drone and AI technologies to assess Kenya’s carbon assets. The drones are also equipped for soil seeding, a critical component for restoring Kenya’s degraded lands.

The pilot project is part of a broader initiative under the consortium’s Investment Bank Humanitarian Contribution Campaigning Programme, aiming to extend similar efforts across the region.

In addition to this project, Banyan Investment Banking & Hedge Fund recently introduced Letscoin, a digital currency designed to empower local communities and facilitate participation in the digital economy. Letscoin has secured backing from Germany’s Deutsche Bank. Banyan also announced a $100 million funding agreement with Quantum Metal Group to support African gold trading activities, with Banyan serving as the custodian bank for 2.5 tonnes of gold on behalf of Quantum Metal Bullion Pty Ltd.

A Carbon Data Project typically involves the collection, analysis, and management of data related to carbon emissions and carbon sequestration. These projects aim to:

  1. Monitor Emissions: Track and quantify carbon emissions from various sources such as industries, transportation, and agriculture.
  2. Carbon Sequestration: Measure the amount of carbon being absorbed by natural processes like forests, soil, and oceans.
  3. Data Analysis: Analyze collected data to understand patterns, trends, and impacts of carbon emissions and sequestration.
  4. Reporting: Provide insights and reports to help develop strategies for carbon management and reduction.
  5. Compliance and Verification: Ensure data collection methods comply with international standards and verify the accuracy of the data.

Such projects are essential for developing strategies to combat climate change, enabling governments and organizations to make informed decisions to reduce carbon footprints and enhance sustainability efforts.

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