Carbonsmith

As June wraps up, we’d like to highlight some exciting new developments in the carbon credit space. Here’s a quick 🌟monthly recap🌟: 1. Denmark is set to impose the world’s first emissions tax on livestock beginning in 2030. The tax is expected to cut the country’s emissions by about 1.8 million metric tons. Proceeds from the tax will be returned to the agriculture industry to support its green transition. 🐄🌾 🔗 https://lnkd.in/gFA79N37 2. The White House reiterated its support of the development of voluntary carbon marketplaces. National Climate Advisor Ali Zaidi told media that “recent downturns should be understood not as “an excuse to slow down but as an occasion to speed up”. 🏛️🌱 🔗 https://lnkd.in/gmj8Ksve 3. Kita Earth, a high-quality carbon insurance provider, partners with carbon credit suppliers and develops bespoke insurance products to safeguard carbon credit transactions. Eligible claims made on Kita’s policies can be paid out in cash or carbon credits. The climate insurance industry can greatly enhance the credibility and value of carbon credits, assuring buyers that credits meet stringent ESG standards and providing protection for their investment. 💸🌿 🔗 https://lnkd.in/gz9_AW7m

📣 We are excited to welcome our 2024 summer interns! At Carbonsmith, we empower young talent to gain hands-on experience and drive impact in the rapidly growing fields of carbon removal and renewable energy. Our interns will be working on innovative projects and contributing to our common mission of creating a more sustainable future. We are proud to introduce our smart and passionate team from exceptional universities across the U.S.: 🌟 Business Development Team: Jacob Allen, Richard Liu, Jane Lee, XINYU LIU, Avnish Rajesh Parekh 🌟 Software Engineering Team: Rene Pazitny, Owen Siemons Welcome aboard! We can't wait to see the incredible impact you'll make. 🌍🏆

Why did Microsoft purchase 4.3 million tons of carbon credits from two suppliers in May? Melanie Nakagawa, Microsoft's Chief Sustainability Officer (CSO), emphasizes that high-quality carbon credits are essential to their carbon-negative goals and accelerating technological innovation behind the global clean energy transition. This commitment reflects a broader trend: per CDR.fyi, in just the first half of 2024, carbon dioxide removal (CDR) credit sales reached 4.8 million tons – already surpassing the 4.5 million tons sold in 2023. 🌟Carbon credits are more than just transactions; they empower organizations to gain substantial external benefits through: 1. Reinforcing company value:  Carbon credits enable organizations to meet sustainability goals effectively and account for emissions across their supply chain. The Science Based Targets initiative (SBTi) now permits organizations to use the credits for their green business certification. These initiatives create positive public relations and help meet increasing stakeholder expectations for sustainable practices. 2. Providing financial incentives and a favorable market position:  Carbon credits can offer potential tax deductions when classified as a necessary expense. Over time, organizations will also strengthen their market position against competitors who lack sustainability initiatives. 3. Offering a new method for forward investment:  Placing advanced credit orders in emerging carbon capture technology or providing capital through spot markets with removal suppliers strengthens ties within a rapidly developing industry. It increases access to capital and ensures that each purchase contributes to additional carbon removal efforts. Credits are often more than just purchases – they are investments. CDR credits are traceable and durable. The strategic use of credits can align an organization’s environmental responsibility with benefits to top-line growth and customer goodwill. Contact us to learn how to get involved. 🚀 #CarbonRemoval #CleanTech #CarbonNeutral #CarbonCredit #Sustainability #NetZero #GreenEnergy

The U.S. Department of Energy (DOE) has made significant strides with its initiatives, recently distributing over 35 million dollars to 24 semifinalists as part of its Carbon Dioxide Removal Purchase Pilot Prize. 🌍 This summer, the DOE is introducing the Voluntary Carbon Dioxide Removal (CDR) Purchasing Challenge, designed to encourage the purchase and adoption of CDR credits. The challenge aims to link leading suppliers with buyers and establish a leaderboard showcasing carbon removal purchases. This leaderboard will boost market transparency and provide organizations interested in purchasing carbon removal credits with increased recognition. Companies like Google, Amazon, and Microsoft have already pledged to join. 🌱 We encourage interested companies to join the challenge! It is an excellent opportunity to connect with other organizations seeking to either buy or sell carbon credits. To find out more about the initiative, visit this link: https://lnkd.in/eF-e2wxh

As awareness of climate change intensifies, so has the interest in carbon credits. Projected annual market growth from 160 million to over 1 billion by 2030 and the development of new emission disclosure policies highlight the growing importance and demand for efficient and transparent markets. Carbon credits are financial instruments that quantify the reduction or removal of one ton of CO2 or its equivalent from the atmosphere. Typically, an organization purchases carbon credits to offset an equivalent amount of its carbon emissions. 🌱 There are two primary types of carbon credits:  1. Avoidance credits: Generated by organizations that avoid emitting carbon or reduce their carbon emissions. These credits can be hard to verify and are usually considered low-quality. 2. Removal credits: Generated from removing carbon directly from the atmosphere. Unlike carbon avoidance, carbon dioxide removal (CDR) is traceable, measurable, and has a lasting duration of sequestration - often over 1000 years. 🏦 These credits are exchanged in two markets: 1. Compliance markets: These are enforced by regulatory frameworks such as carbon taxes and emissions trading schemes (ETS).  2. Voluntary Carbon Market (VCM): Corporations interested in sustainability and for-profit carbon reduction companies buy and sell carbon credits in a relatively unregulated manner. In the past, this has led to the proliferation of some lower-quality projects - a trend that is just beginning to reverse. 🚀 At Carbonsmith, we focus on providing high-quality and data-driven carbon removal credits dedicated to enhancing the transparency and reliability of the VCM. Learn more about how Carbonsmith is revolutionizing the carbon credit industry at our website: https://carbonsmith.io/ #CarbonRemoval #Sustainability #NetZero #CarbonNeutral #CarbonCredit #DirectAirCapture

Michael Bloomberg’s recent article provides a fascinating look into how President Biden’s latest policy initiatives can help carbon credits flourish in combating climate change. 🌳 Carbon credits are integral to financing the battle against greenhouse gas emissions – companies and governments use them to invest in green projects and to take concrete steps in reducing their carbon footprint.  Currently, the market faces significant challenges with transparency and efficiency. Buyers cannot easily verify the credibility of credits, projects often fall short of their promises, and sellers are often incentivized to avoid accountability. In response, the Biden administration recently released a policy statement and set of principles for fostering more transparent, responsible and effective voluntary carbon markets. This is a crucial step toward maturing these markets and enhancing their integrity and operational standards. Here’s where we come into play. Carbonsmith is positioned to thrive in this evolving landscape. We are developing a trusted, transparent, and efficient carbon credit marketplace for buyers and sellers. Our platform leverages blockchain technology to help stakeholders make informed decisions and keep suppliers accountable for removals. Contact us to learn more about our solutions 📩 https://lnkd.in/gZW963sy Read more about the Biden policy announcement: https://lnkd.in/ewvjzemM #ClimateChange #BidenAdministration #CarbonCredits #Sustainability #GreenEnergy #CleanTech #EnvironmentalPolicy

Our networking event centered around "carbon removal and commercialization" marked an exciting and inspiring night at SF Climate Week! Our co-founder Drew Hahn and industry experts Michael Vyvoda from Aircapture and Alicia Harmon O’Meara from Arbor shed light on the pressing challenges and promising opportunities within the carbon removal industry: 1. Funding: How policies such as SB253+261 can drive effective growth in carbon markets. 2. Scaling: How getting creative in implementation, such as through modularization of technology, can lead to more deliveries in carbon removals. 3. People: How people of different backgrounds, from MBA’s to designers to operators, can get involved in carbon removals through leveraging diverse skill-sets. By fostering a transparent and inclusive market, we are committed to driving green initiatives through sustainability leadership. Thanks to the remarkable contributions from our partners INSEAD, ClimateLaunchpad, and Cleantech Open, the organizing teams, and the interactive participation of everyone who attended! Contact us to accelerate your carbon neutrality journey. Cocoon Cao, Porter Wong, Sen Tan, Ken Hayes, Amit Akhelikar #CarbonRemoval #Sustainability #NetZero #CarbonNeutral #ClimateAction #SFClimateWeek

We’re almost ready to kick off SF Climate Week! Don’t miss our exclusive Happy Hour, where sustainability meets green finance. 🌟 Spotlight our guest speakers who are shaping the future of carbon removal: - Drew Hahn, Co-Founder of Carbonsmith - Alicia Harmon O’Meara, COO of Arbor - Michael Vyvoda, COO of Aircapture Join the forefront of the climate conversation. Engage with pioneers and uncover actionable insights while savoring fine drinks and appetizers. See you in San Francisco! RSVP now: https://lnkd.in/gWCDn5Gf #CarbonRemoval #Sustainability #NetZero #CarbonNeutral #NetworkingEvent #ClimateAction #SFClimateWeek #ESGregulation

🌍 Explore Carbon Neutral Solutions At Happy Hour! RSVP now to connect with thought leaders in the carbon removal space and discover industry trends at SF Climate Week. Our panelists will cover topics including carbon removal, organizational strategies, and carbon credits. Enjoy drinks and light bites while meeting with brilliant people who are creating a positive impact on the future of our planet! 📅 April 25, 2024 (Thu) ⏰ 5:30 PM - 8:00 PM 📍 INSEAD San Francisco Hub This event is co-hosted by Carbonsmith and INSEAD, alongside our partners ClimateLaunchpad and Cleantech Open. ➡ Sign Up Today: https://lnkd.in/gWCDn5Gf #CarbonRemoval #Sustainability #NetZero #CarbonNeutral #NetworkingEvent #ClimateAction #SFClimateWeek #ESGregulation

🌱 Carbonsmith is a pioneering marketplace designed to connect buyers and suppliers of Carbon Dioxide Removal (CDR) credits and facilitate transactions from high-quality removal projects. We are dedicated to providing a solution for two critical challenges in existing carbon markets: 1. Quality of Credits: Historically, many solutions have been implemented around low-fidelity, low-durability credits. 2. Maligned Incentives: Current market dynamics can lead to incentive systems where companies are encouraged to potentially embellish carbon removal data or double count credits. We are a blockchain powered solution that fosters transparency through data. Each transaction on our platform is queryable by any interested third-party public or private group. Our multi-step certification process and public verification fulfillment system can bring trust and capital flows back into carbon markets. 🚀 Innovation needs infrastructure to scale. At Carbonsmith, we aim to be the backbone for public and private trust in carbon markets through enhancing access to data-driven and permanent solutions.