Non-profit SeaTrees is preparing to release 300,000 voluntary marine biodiversity credits for sale at UN biodiversity conference COP16 from a Kenyan initiative, Carbon Pulse has learned.
The credits will be made available via the company’s website at an introductory price of $3 each, during the conference that begins this month, said Kevin Whilden, co-founder of SeaTrees.
In Kenya, each credit will represent the planting of one mangrove tree, alongside 10 years of monitoring and maintenance, Whilden told Carbon Pulse. “It’s restoring 30 hectares of degraded mangrove forests in Kilifi County.”
The California-based organisation will use an in-house methodology it hopes to apply to generate credits for restoring marine ecosystems around the world.
The units will be made available on its website for buying via retail system Shopify.
“That’s another one of our innovations, we’re selling nature like a product on any other product-selling website,” Whilden said.
Each credit will be minted and retired on Regen Network’s registry, proving a transparent, blockchain-based process with full accountability, he said.
The mangrove project in Kenya, 2024. Credit: Talisa Lanoe
THE METHOD
SeaTrees will use its Biodiversity Blocks method for measuring the value of each marine biodiversity credit. This emphasises a “stewardship-based” credit approach, where units represent specific conservation actions.
Each block corresponds to measurable efforts, such as a single mangrove tree planted, a square foot of kelp forest restored, or a square meter of coral reef protected.
The units represent much smaller areas than those of most biodiversity credit methodologies, which often show a 1% nature uplift across one ha annually. However, these are usually mostly terrestrial, as marine biodiversity is notoriously difficult to measure.
“The primary goal is to enable small-scale, locally-led projects to operate with minimal investment while incorporating the latest science in marine biodiversity,” said SeaTrees in a white paper.
Biodiversity Blocks use various ecological metrics to measure improvements in ecosystem health over time. These metrics span three categories:
- Structure: habitat-forming species presence (such as canopy cover)
- Composition: species diversity
- Function: ecosystem service provision
Each initiative will generate its own suite of 10-12 metrics. While each project is likely to have a carbon benefit, credit units will not reflect its sequestration directly.
SeaTrees will publish the method online, but it will not be usable by other companies.
“We’re building a dynamic outcome reporting dashboard that combines reports, data, and proof of credit retirement, along with photos, storytelling, and video,” said Whilden.
In August, Regen Network Development said it was trialling a feature to enable the publishing of project data, connected to blockchain, in a bid to improve the storytelling around its environmental credits.
NOT-FOR-PROFIT
The credits will not be for reselling or profit, with SeaTrees seeking exclusively philanthropic buyers who want to use them to tell a story of nature uplift.
When a credit is retired, a non-fungible token (NFT) receipt will be generated on the Solana blockchain, recorded in the buyer’s digital wallet.
This NFT serves as proof of the buyer’s contribution to the restoration project and includes “custom artwork” that represents the marine initiative.
At least 50% of proceeds will go to local communities involved in initiatives.
Whilden wants to avoid the voluntary carbon credits for-profit model, in the early stages of the voluntary biodiversity market, to encourage innovation while minimising reputation risk.
He argued that this model could help biodiversity credit markets gain the credibility needed to scale up and address the global nature crisis.
SeaTrees is collaborating with the artist behind an installation that will feature at one of the entrances to COP16.
The 21-foot “Biodiversity Jenga” work will represent the fragility of ecosystems using blocks.
By Thomas Cox – t.cox@carbon-pulse.com
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