This year, a study came out in Nature Sustainability outlining the ways in which large-scale tree-planting projects can backfire and end up producing more carbon than they cut. It’s important, as Jamie says, to plant with variety and correct method in mind. Within this account of palm oil plight is a suggestion of where many a tree-planting project has gone wrong. Land is deforested to make way for palm plantations, which in themselves are monocultures, supporting far fewer species than the forests that were there originally. Orang-utans, for example, are at particular risk – thousands are killed every year, a figure that has accelerated in line with our dependence on palm oil. That’s also because of deforestation in and of itself.”Īnd indeed, trees provide habitat to over 80% of the world’s land-based biodiversity as trees are razed down, animal habitat is destroyed. “On par with the problem of global warming, an issue that’s distinct in some respects is the extinction we’re seeing of wildlife in almost every habitat in the world. “Not only do they sequester carbon, which is great and incredibly important for reducing global warming damage, but they also – as long as they’re planted in a sustainable way, as long as there’s lots of different types of trees – allow you to rejuvenate wildlife populations as well.” “The great thing about trees is they solve a lot of problems in one,” Jamie continues. But what are trees good at? What differentiates tree-planting from other carbon-negative actions and offsetting techniques? We’re not experienced at tree planting Ecosia have a Chief Treeplanting Officer and everything, so they’re handling all of that!” says Jamie.Ĭlearly, Ecosia is very good at planting trees – and the addition of TreeCard will mean many more forests across the globe. “All of our tree revenues go straight to Ecosia, who manage for us. If you can generate funds for tree planting after you’ve clicked the advert, in the payment section as well, it really links nicely and the whole becomes bigger than the parts.” Why trees? “One of the core bits of that flow is you click on the advert, then you pay. “It’s not just good as a way to plant trees, but it also ties the knot really nicely for Ecosia, because they have that advertising side, where they get money to plant trees”, he continues. If that card issuer is TreeCard, the majority of that will be channeled towards planting trees. When you make a purchase, the merchant has to pay a fee to the card issuer. TreeCard, Jamie says, “does the exact same thing but in the fintech space”. Over 100 million trees have been planted so far by Ecosia, which channels 80% of its profits into global tree-planting efforts. Most readers will be familiar with Ecosia, a search engine that’s far more ‘down to earth’ than its tech giant companions, and that plants trees with advertising revenue rather than doing God-knows-what Google do with it. The result – TreeCard, a “debit card that lets you reforest while you spend” – has just launched in the UK. Rather than resting on his laurels, Jamie set about thinking over how to use his fintech powers for good. As of 2022, the Treecard and Ecosia communities have partnered to plant more than 120 million trees in places that need them most.Jamie Cox was still a student at Oxford University when he founded Cashew, which, touted as “Venmo for the UK”, was admitted to Y Combinator in 2017 and subsequently sold to ticketing giant FIXR. Treecard’s partner, Ecosia, uses the money it generates from ads to plant trees around the world. More than 160,000 people have signed up for the company’s card, which is composed of wood and organic and recycled plastic bottles. The company believes that climate change is the biggest challenge of the 21st century and that making it convenient for people to live sustainably is the best way to combat the issue. Headquartered in London, England, United Kingdom, Treecard was founded in 2020. The company is fully remote, and its team members work asynchronously across the United States and the United Kingdom. Treecard prides itself on being “the kind of green that doesn’t wash off,” and its company is driven together by its passion for making a positive impact on the earth. Eligible roles may receive perks and benefits, including 100% coverage for medical insurance, a 401(k) plan, stock options, a mental health and personal development budget, and the opportunity to attend biannual company retreats. As an employer, Treecard has offered full-time, 100% remote jobs in the past. The company plans to partner with Ecosia to plant a billion trees by 2026. Treecard builds a debit card that donates 80% of profits directly to reforestation. Researched & Written by Kevin Fox on the FlexJobs Team
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