Upbit Operator Doubles Down on ESG Management
Dunamu, the operator of the popular Korean crypto exchange Upbit, issued a press release on Friday stating it will donate 500 million KRW (~$385,000) to the Korean Red Cross in support of recovery efforts for the recent wildfire damage in Gangneung, a city located east of Seoul.
ESG management
This is part of its efforts to double down on its environmental, social, and governance (ESG) management, according to Korean economic media Biz World.
Wildfire recovery efforts
Last year, Dunamu also donated 3 billion KRW (~$2.3 million) to Hope Bridge, a disaster relief association in Korea, to support the swift recovery from wildfires that ravaged areas near the cities of Uljin and Samcheok.
Metaverse and NFTs for plant conservation
Under the slogan “climate change action,” Dunamu is engaging in various projects. Last month, the exchange operator launched the 2nd foRest campaign in collaboration with the Korea Forest Service and the Korea Forest Welfare Institute.
The purpose of this campaign was to encourage citizens to participate in recovering wildfire-affected areas. Every tree planted in Dunamu’s metaverse platform 2nd Block led to the actual planting of two trees in the ravaged areas. More than 30,000 trees were planted through the project, and moreover, 10,000 of the participants were rewarded with coupons that can be exchanged for saplings.
Dunamu has also made endangered plant conservation efforts with the Korea Arboreta and Gardens Institute. Upbit NFT Marketplace showcased ten endangered plants in NFT editions.
Veronica Star Light, one of the editions revealed during the first airdrop, sold out within a day, reflecting its popularity. Dunamu will use the fees collected from these transactions to establish a fund for endangered plant conservation.
Protecting plant diversity
Dunamu Chairman Song Chi-hyung said the company has been studying various means to utilize its technology and resources to contribute to society, and that it will continue to make multifaceted efforts to protect plant diversity.
