DNV GL’s VeChain Partnership Improves It’s United Nations Sustainability Goals


VeChain Signs Partnership With DNV GL to Improve Wolrd’s Sustainability

The Norwegian assurance company DVN GL and key partners of the Thirteenth Chinese Five-Year Plan, including VeChain, will be improving the efforts of DNV GL to be compliant with the United Nations’ Sustainable Development Goals.

In order to increase their bilateral relations, King Harald V and Queen Sonja of Norway planned an official visit to China. At the same time, they have also been signing witnesses for the DNV GL-VeChain Digital Low Carbon Ecosystem partnership. This meeting and the ceremony were organized in the Norway-China Business Summit 2018.

Other important partners of the Thirteenth Chinese Five-Year Plan were the Chinese automobile manufacturer BYD, Tsinghua University’s Sino US Relations Research Center, and Shanghai Ziandao Food, which is a subsidiary of the company Bright Foods.

Some of the sponsors of this event were representatives of Norway and China. The Chinese Council for the Promotion of International Trade has also been working with Innovation Norway trying to improve the technology industry in the Scandinavian country.

The digital low-carbon ecosystem will be strengthening and leveraging the VeChainThor blockchain and other Internet of Things (IoT) devices in order to calculate carbon reduction. The platform will be using smart contracts and issue carbon credits accordingly. It is possible to register the emission reduction behavior of individuals and enterprises as well.

In this way, Carbon credits are distributed to those parties that are involved in emission reductions. These credits can also be transferred in order to achieve ecological diversion among enterprises.

By reducing carbon emissions it is possible to meet the main agenda of the United Nations.

VeChain is one of the most valuable and known blockchain systems in the world. At the moment of writing, VeChain has a market capitalization of $648 million dollars and each VET token can be bought for $0,0117 dollars, according to CoinMarketCap.

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