Tag: Carbon

Carbon Direct Acquires Carbon Credit Startup Pachama In a significant move, carbon management startup Carbon Direct has announced the acquisition of another carbon credit startup, Pachama. Pachama faced challenges in the voluntary carbon markets, leading to the layoff of approximately 20 employees earlier this year. Despite attracting investments from renowned entities like Amazon’s Climate Pledge, Breakthrough Energy Ventures, and celebrity angel investors such as Ellen DeGeneres, Laura Dern, and Serena Williams, the company struggled amidst market fluctuations. Diego Saez Gil, CEO of Pachama, acknowledged the impact of economic uncertainties and anti-ESG sentiments on corporate sustainability budgets. The voluntary carbon market, already undergoing a correction, felt the brunt of these challenges. With Pachama securing $88 million in funding and Carbon Direct raising $60.8 million, the acquisition marks a significant development in the carbon management sector. While Pachama focused on nature-based carbon credits linked to forest conservation and restoration, Carbon Direct specializes in carbon market advisory services. The latter assists companies in monitoring and reporting their carbon emissions, as well as evaluating carbon credits for offsetting purposes. The carbon markets have experienced turbulence in recent years, with concerns extending beyond political influences. Criticisms regarding the efficacy of voluntary carbon markets have emerged, with issues surrounding the validation of carbon reductions and the protection of forests under scrutiny. Despite challenges, companies like Microsoft, Shopify, and JP Morgan continue their commitment to net-zero initiatives. Carbon Direct boasts a clientele including major corporations like American Express, Alaska Airlines, and BlackRock, indicating ongoing interest in sustainable practices.

Tag: Carbon

Consolidation begins to hit the carbon credit market

Lenovo Unveils ThinkPad X1 Carbon Gen 13 Aura Edition with Intel Core Ultra Series 2 Processor

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