Sylvera banks $57M to put carbon offsetting on a path to Net Zero | TechCrunch
- Customer names it’s disclosing include the likes of S&P Global, Salesforce, BCG and Mitsubishi.The UK startup’s mission is to provide trusted data and ratings on carbon offset projects to support customers to meet Net Zero goals by investing in projects with the best credibility for carbon sequestration.
- (The basic idea for offsetting being companies pay to offset unavoidable emissions by funding stuff that sucks up an equivalent amount of carbon — meaning projects need to properly account for the carbon take up to ensure credits sold live up to the promise of emissions offset.
- )He also rightly points out that carbon offsetting can bring other benefits funded through the sale of carbon credits, such as biodiversity (as a result of successful forest conservation) or reduced indoor air pollution (from swapping people to using clean cookstoves).
- (An investigation of the Verra carbon standard the Guardian reported on in January found the forest carbon offsets approved by that major project certifier, and used by corporate giants like Disney and Shell, were largely worthless — and could even make global heating worse.
- As a courtesy, we have exchanged those names for other customer names that are publicIsometric taps $25M to build a registry and science platform focused on carbon removalSylvera takes $32M to build trust in carbon offsetting ratings
- It’s highly solvable.”While Sylvera’s faith in robust data sampling and methodical data science is certainly infectious, carbon credits as a tool for addressing climate change do continue to suffer from regular reputation knocks.
Londonbased climate intelligence startup Sylvera has closed another chunky funding round bagging $57 million in Series B funding led by Balderton Capital, with participation from existing investor [+15093 chars]