Partnership Focused on Ensuring Reliable Water Sources for Communities Facing Climate Change with Carbon Credit Revenue
BOULDER, CO — August 29, 2022 — Virridy, dedicated to improving the management of environmental resources through technology, today announced a partnership with the Millennium Water Alliance and the University of Colorado Boulder to ensure that people facing the first impacts of climate change have access to reliable and safe drinking water.
Under the partnership, the three organizations are combining innovative water monitoring technologies with expertise in carbon finance and water supply services to break down the barriers to reliable water supplies. The partnership is already supporting millions of people's water supplies in Ethiopia and Kenya, with plans to rapidly expand.
Climate change is driving increasingly severe and pervasive droughts all over the world. In East Africa, 20 million people currently face famine because drought has killed crops and livestock. And yet, often, there is water — but there is not enough funding to maintain the water pumps and water treatment systems.
The three organizations have already been working together on the Drought Resilience Impact Platform (DRIP), which monitors water security with satellite-connected sensors, creates actionable drought forecasts, and identifies broken water pumps and areas of water demand. The DRIP system has been supported by USAID, NASA, and the Swiss Agency for Development and Cooperation.
Now, the team is introducing a funding model based on climate finance. Under the Gold Standard voluntary carbon credit registry, organizations can earn carbon credits by reducing the demand to boil drinking water with firewood or fossil fuels.
"The DRIP system, combined with carbon credit revenue, will allow the MWA and its members to partner with local communities to identify and repair water systems," said Styvers Kathuni, MWA Kenya Program Director.
"This kind of public-private partnership isn't a quick or easy fix to our water insecurity issues, but the effects of climate change are certain to intensify. Carbon markets should be part of the answer," said Evan Thomas, Virridy founder and CEO.