Accelerate Announces Partnership with Veritree, Launches Decarbonization Initiative with the Planting of 5,000 Trees
CALGARY, AB, Dec. 13, 2021 /CNW/ - Accelerate Financial Technologies Inc. ("Accelerate") is pleased to announce a strategic partnership with Veritree Technology Inc. ("veritree") to launch its category-creating decarbonization initiative.
veritree serves as a blockchain-based, integrated planting management system that directly connects sponsors of projects with the impacts on the ground. The system was built to solve many of the problems facing tree planting and nature-based solutions across the globe: double counting or lack of additionality, poor monitoring for permanence, and inability to collect usable data.
Accelerate's decarbonization initiative includes a global tree planting campaign, funded by a portion of its management fee from the Accelerate Carbon-Negative Bitcoin ETF (TSX: ABTC).
Accelerate and veritree have committed to planting 5,000 trees in early 2022, funded by ABTC's fourth quarter management fee to kick off the campaign.
"Running the world's first carbon-negative investment fund, we take great pride in providing an easy and low-cost exposure to bitcoin while helping fight climate change," said Julian Klymochko, Founder and CEO of Accelerate. "We are grateful to all of our ABTC investors, as their ABTC investment helps us sequester carbon emissions to reduce their carbon footprint through our tree planting campaign. This is true ESG investing".
Up to 10% of ABTC's 0.69% management fee will be allocated to Accelerate's annual tree-planting campaign. The initial decarbonization initiative will be focused on planting mangrove trees in Madagascar.
For each $1,000 investment in ABTC, approximately one net tonne of carbon dioxide is expected to be sequestered per year.
The Accelerate Carbon-Negative Bitcoin ETF allows investors to diversify their portfolios and protect against the scourge of inflation while helping to fight climate change.
Buy Bitcoin, Save the Planet! Visit investABTC.com for more information
About Accelerate Financial Technologies Inc.
Accelerate is one of Canada's most innovative and fastest growing alternative investment solution providers, with a suite of institutional-caliber alternative ETFs for investors seeking diversification and long-term performance.
Accelerate is empowering investors. Find out more at www.AccelerateShares.com
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to ABTC or Accelerate. The forward-looking statements are not historical facts but reflect Accelerate's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Accelerate believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Accelerate undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors that affect this information, except as required by law.
SOURCE Accelerate Financial Technologies Inc.