A company linked to the royal family in Dubai has entered into a strategic partnership to promote a Brazilian startup that issues environmental tokens to landowners encompassing soil, water, biodiversity, and carbon.

Seed Group, owned by Sheikh Saeed bin Ahmed Al Maktoum’s Private Office, announced the new partnership with Sao Paolo-based Bluebell Index on Tuesday.

“As a strategic partner, Seed Group is poised to collaborate closely with Bluebell Index to expand its outreach and impact,” a joint statement from the two said.

“Leveraging its extensive network and influential position, Seed Group will facilitate Bluebell Index in reaching the right audience and establishing connections with key decision-makers in both the government and the private sector.”

The Brazilian outfit was founded in Sep. 2021, and is offering landowners a no-cost assessment of their land, using drones, satellite images, and other data points to map the content of soil, water, biodiversity, and carbon on their land.

It will then issue tokenised environmental assets known as bluebells reflecting the natural assets associated with the property, which can be bought by companies or individuals wishing to address the twin nature and climate crises.

Its website currently offers no tokens, but says availability will be disclaimed at regularly timed schedules depending on the total area under its management.

“Bluebell methodology derives from UNFCCC and FAO/UN standards, that are used by all players in the green market and other ventures,” the website says, without offering specifics.

“It is also under certification from an AAA major international company, and will be audited by a similar importance company.”

Bluebell is hoping the backing of Seed Group will help open a pathway to buyers in a crowded market that offers carbon credits with or without nature benefits, emerging plastic and biodiversity credits, and other opportunities.

“While Brazil is naturally the largest global producer of environmental assets and the Middle East is a dominant global trading hub, our partnership will allow us to scale this sustainable financial asset solution, allowing companies to invest in nature and environmental compensation,” Bluebell CEO Phelipe Spielmann said in Tuesday’s statement.

Seed Group said the collaboration “aims to contribute significantly to the advancement of the technological innovation landscape in Dubai”.

“Bluebell Index exemplifies the transformative power of technology in addressing environmental challenges. Their innovative approach to connecting environmental assets to the global market will play a crucial role in shaping a sustainable future,” said Seed Group and Private Office CEO Hisham Al Gurg.

The move is the latest example of the Dubai royal family getting into environmental markets as the emirate prepares to host COP28, starting later this month.

Sheikh Ahmed Dalmook Al Maktoum two years ago launched Blue Carbon, a carbon project developer and credit buyer that has since become involved in major plans across several African countries, including a controversial plan to develop projects across more than 1 million hectares of land in Liberia.

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