SPE Documentation
  • Official Whitepaper
  • SPE Tree Planting Catalog
    • Pakistan
    • Sri Lanka
    • Maldives
  • Multilayer Tree Planting Program
    • An Introduction to SavePlanetEarth
    • United Nations Sustainable Development Goals (UNSDGs)
    • Welcome to Sri Lanka: The Paradise Island
    • Trees Used In The Tree-Planting Project
    • Northern Province of Sri Lanka
    • Project Timeline
    • Planetary Carbon Standard (PCS)
    • PCS Acceptance Letter From The Sri Lanka Climate Fund
    • Monitoring and Reporting
    • Conclusion
  • Tokenize Amazon Project
    • The Problem
    • Community-Driven Project
    • Planetary Carbon Standard
    • Carbon Credit Explanation
    • Tokenize Amazon Concept
    • How Does It Work?
    • END
    • MetaVerse Coming Soon
    • Implementation of The Project Inside The Amazon Rainforest
  • FAQs
    • What exactly is SavePlanetEarth?
    • How long has SPE been active? Also, why the name “SavePlanetEarth”?
    • Can you tell us more about the SPE team and their backgrounds?
    • Aside from sequestering carbon dioxide from the atmosphere, what does SPE gain from planting trees?
    • Are there any specific areas that you’re currently focused on when it comes to planting trees?
    • Care to elaborate on the “traditional tree-planting endeavors”?
    • That also counts as an incentive you previously mentioned, right? Are there more of these incentives
    • How do you gather the necessary resources and manpower to manage those areas?
    • How many nurseries have you procured so far?
    • How does SPE stand out from the rest of the environmental projects?
    • Care to elaborate more on this launchpad? And have you gotten any startups on board already?
    • Where does $SPE come into play in the ecosystem? What are the Tokenomics and uses for it?
    • How do the carbon credits make their way on-chain?
    • What countries does SPE currently have initiatives in?
    • How does PCS calculate and monitor carbon sequestration activities accurately?
    • What is The Planetary Carbon Standard?
    • Why is the PCS a viable standard?
    • What is the Planetary Carbon Standard (PCS)?
    • What is an LECCNFT?
    • What are the benefits of holding an LECCNFT?
  • Partnerships
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  1. FAQs

How do the carbon credits make their way on-chain?

  • Companies can earn carbon credits by sequestering one ton of CO2 (or an equivalent amount of any greenhouse gas) through initiatives such as reforestation and carbon farming. These credits can then be used to offset the company's greenhouse gas emissions.

  • To ensure the credibility of the carbon credits, companies must first have their credits verified through the Planetary Carbon Standard (PCS). PCS is an easy-to-understand carbon credit standard that assigns value to the credits, making them suitable for use in transactions.

  • Once the credits are verified, they can be purchased by other parties seeking to offset their own greenhouse gas emissions. By purchasing the credits, the buyer essentially pays the company to reduce emissions on their behalf.

  • Transactions involving carbon credits are logged on the blockchain, ensuring full transparency without the need for a third-party mediator, similar to how cryptocurrency transactions operate. Proceeds from these transactions can then be used to fund additional sequestration projects, further contributing to the company's sustainability efforts.

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Last updated 2 years ago