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Single.Earth wins international award nominations, launches sales of nature-backed currency

Single.Earth founders Andrus Aaslaid and Merit Valdsalu

Wins a place on ESGFinTech100 list of most innovative tech companies for ESG // Shortlisted for World Summit Awards in Environment and Green Energy category

TALLINN, ESTONIA, September 28, 2022 / -- EQT-backed Estonian climate tech startup Single.Earth won two international recognitions as it opened the sales of its nature-backed currency.

“We are on a mission to save nature on our planet. For a startup, this is often seen as too massive a challenge, but acknowledgment from different organizations ensures we are on the right track,” said Merit Valdsalu, co-founder and Chief Executive of Single.Earth.

Individuals and businesses can now buy MERIT as a nature-positive contribution to achieving sustainability goals or as a virtual asset that helps build the world’s first nature-backed digital currency and, thus, integrate nature protection into our daily lives.

The Global ESGFinTech100 lists the most innovative tech companies every financial institution needs to know when they consider and develop their ESG assessment and performance improvement strategies. Single.Earth is one of the 100 companies chosen by a panel of industry experts and analysts based on a study carried out by data and research firm FinTech Global on over 500 ESG tech companies.

World Summit Awards (WSA) said Single.Earth was nominated as the best national digital solution for Estonia for its annual award for digital innovation with an impact on society. With the nomination in the category Environment and Green Energy, Single.Earth is shortlisted for the WSA finals later in the year.

The international recognition comes at a time when Single.Earth launches the sales of MERIT, the world’s first nature-backed currency, which protects Amazon primary rainforests in Brazil and mature forests in Europe while also receiving a virtual asset representing the value of ecosystem services.

“We are on a mission to fight climate change and biodiversity loss to ensure our planet remains habitable for humans for generations to come,” said Valdsalu.

MERIT is a utility token that represents the value of nature and, more specifically, its ecosystem services. Each token represents 100 kg of CO2 captured in a biodiverse forest.

Single.Earth has focused on sorting out the shortcomings of today’s carbon credits, tackling the questions about biodiversity loss and why net-zero policies are still translating to mass extinction, although possibly on a somewhat less overheated planet.

The token can replace the classical carbon instruments and the voluntary market by looking at the world more holistically and factoring in the species and habitats besides carbon.

“The big vision behind the MERIT tokens is to become a global currency of a sustainable Net Zero economy,” said Valdsalu.

About Single.Earth:
Single.Earth was founded by Merit Valdsalu and Andrus Aaslaid in 2019 with a mission to protect nature. The company’s investors include EQT Ventures, Icebreaker.VC, and Pipedrive founders Ragnar Sass and Martin Henk. The Tallinn-headquartered company employs over 70 people around the world.

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Tarmo Virki
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