{"id":24121,"date":"2021-05-01T05:28:48","date_gmt":"2021-05-01T05:28:48","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/as-concerns-rise-over-forest-carbon-offsets-pachamas-verified-offset-marketplace-gets-15-million.html"},"modified":"2021-05-01T05:28:48","modified_gmt":"2021-05-01T05:28:48","slug":"as-concerns-rise-over-forest-carbon-offsets-pachamas-verified-offset-marketplace-gets-15-million","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/as-concerns-rise-over-forest-carbon-offsets-pachamas-verified-offset-marketplace-gets-15-million.html","title":{"rendered":"As concerns rise over forest carbon offsets, Pachama\u2019s verified offset marketplace gets $15 million"},"content":{"rendered":"

Restoring and preserving the world\u2019s forests has long been considered one of the easiest, lowest-cost and simplest ways to reduce the amount of greenhouse gases in the atmosphere.<\/p>\n

It\u2019s by far the most popular method for corporations looking to take an easy first step on the long road to decarbonizing or offsetting their industrial operations. But in recent months the efficacy, validity and reliability of a number of forest offsets have been called into question thanks to some blockbuster reporting from Bloomberg.<\/p>\n

It\u2019s against this uncertain backdrop that investors are coming in to shore up financing for Pachama<\/a>, a company building a marketplace for forest carbon credits that it says is more transparent and verifiable thanks to its use of satellite imagery and machine learning technologies.<\/p>\n

That pitch has brought in $15 million in new financing for the company, which co-founder and chief executive Diego Saez Gil said would be used for product development and the continued expansion of the company\u2019s marketplace.<\/p>\n

Launched only one year ago<\/a>, Pachama has managed to land some impressive customers and backers. No less an authority on things environmental than Jeff Bezos (given how much of a negative impact Amazon operations have on the planet), gave the company a shoutout<\/a> in his last letter to shareholders as Amazon\u2019s outgoing chief executive. And the largest e-commerce company in Latin America, Mercado Libre, tapped the company to manage an $8 million offset project<\/a> that\u2019s part of a broader commitment to sustainability by the retailing giant.<\/p>\n

Amazon\u2019s Climate Pledge Fund is an investor in the latest round, which was led by Bill Gates\u2019 investment firm Breakthrough Energy Ventures. Other investors included Lowercarbon Capital (the climate-focused fund from \u00fcber-successful angel investor, Chris Sacca), former Uber executive Ryan Graves\u2019 Saltwater, the MCJ Collective, and new backers like Tim O\u2019Reilly\u2019s OATV, Ram Fhiram, Joe Gebbia, Marcos Galperin, NBA All-star Manu Ginobili, James Beshara, Fabrice Grinda, Sahil Lavignia and Tomi Pierucci.<\/p>\n

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Pachama launches to support global reforestation through carbon markets<\/a><\/p>\n<\/blockquote>\n

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That\u2019s not even the full list of the company\u2019s backers. What\u2019s made Pachama so successful, and given the company the ability to attract top talent from companies like Google, Facebook, SpaceX, Tesla, OpenAI, Microsoft, Impossible Foods and Orbital Insights, is the combination of its climate mission applied to the well-understood forest offset market, said Saez Gil.<\/p>\n

\u201cRestoring nature is one of the most important solutions to climate change. Forests, oceans and other ecosystems not only sequester enormous amounts of CO<\/span>2 <\/span>from the atmosphere, but they also provide critical habitat for biodiversity and are sources of livelihood for communities worldwide. We are building the technology stack required to be able to drive funding to the restoration and conservation of these ecosystems with integrity, transparency and efficiency\u201d said Saez Gil. \u201cWe feel honored and excited to have the support of such an incredible group of investors who believe in our mission and are demonstrating their willingness to support our growth for the long term.\u201d\u00a0<\/span><\/p>\n

Customers outside of Latin America are also clamoring for access to Pachama\u2019s offset marketplace. Microsoft, Shopify and SoftBank are also among the company\u2019s paying buyers.<\/p>\n

It\u2019s another reason that investors like Y Combinator, Social Capital, Tobi Lutke, Serena Williams, Agla\u00e9 Ventures (LVMH\u2019s tech investment arm), Paul Graham, AirAngels, Global Founders, ThirdKind Ventures, Sweet Capital, Xplorer Capital, Scott Belsky, Tim Schumacher, Gustaf Alstromer, Facundo Garreton and Terrence Rohan were able to commit to backing the company\u2019s nearly $24 million haul since its 2020 launch.\u00a0<\/span><\/p>\n

\u201cPachama is working on unlocking the full potential of nature to remove CO2 from the atmosphere,\u201d said Carmichael Roberts from BEV, in a statement. \u201cTheir technology-based approach will have an enormous multiplier effect by using machine learning models for forest analysis to validate, monitor and measure impactful carbon neutrality initiatives. We are impressed by the progress that the team has made in a short period of time and look forward to working with them to scale their unique solution globally.\u201d\u00a0<\/span><\/p>\n

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Corporate sustainability initiatives may open doors for carbon offset startups<\/a><\/p>\n<\/blockquote>\n

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Article source: https:\/\/techcrunch.com\/2021\/04\/30\/as-concerns-rise-over-forest-carbon-offsets-pachamas-verified-offset-marketplace-gets-15-million\/<\/p>","protected":false},"excerpt":{"rendered":"

Restoring and preserving the world\u2019s forests has long been considered one of the easiest, lowest-cost and simplest ways to reduce the amount of greenhouse gases in the atmosphere. It\u2019s by <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[17],"tags":[23],"class_list":["post-24121","post","type-post","status-publish","format-standard","hentry","category-networking-and-communication","tag-network-and-communication"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t