IFC partners with Aspiration in $10 million fund to lift quality of carbon credits
MASS CHANGE EASING WITH HYPE PRO SOFTWARE
At Climate Week, software maker Salesforce announced a marketplace to connect buyers and sellers of carbon credits. and the crypto tech provider Chia Network – aims to source, “tokenize” and sell higher quality credits and track their attributes on Chia’s blockchain-based distributed ledger. The Carbon Opportunities Fund – anchored by the neobank Aspiration and biodiversity investor Cultivo along with International Finance Corp. Regen is hardly alone in trying to improve the carbon markets.
Regen expects to send an average of 85% of the sale value of carbon credits directly to the projects on its marketplace.īy day, the ReFi crowd hashed out techie details of creating a new decentralized system of finance to restore nature by night, they explored the plentiful bars and clubs of Medellin. Current marketplaces may channel as little as a quarter of a project’s asset value back to the project developers, Landua said. “We expect this to radically shift the economics of carbon project development,” he told ImpactAlpha. The platform is built on Cosmos, an open source blockchain and ecosystem. Landua was in Medellin, along with hundreds of blockchain developers, to present the firm’s new blockchain-based peer-to-peer trading platform, which will make it possible for nature-based project developers to list projects directly into a marketplace with no intermediaries. The offsets don’t replace the hard work of emissions reductions, but they do channel money from wealthy corporations to local project developers working to protect and restore natural habitats that sequester carbon.Ĭlimate is a crypto play as action moves from TradFi to DeFi to ReFi Demand for carbon offsets is exploding, driven by corporations scrambling to make good on their net zero pledges. On the face of it, managing carbon credits could be the perfect application for the blockchain, a technology that has been characterized as a solution looking for a problem. cities to regeneration of rainforest and wetlands ecosystems in the Congo Basin.
The pioneers of regenerative finance, or “ReFi,” aim to use blockchain and crypto to direct capital via carbon credits to projects restoring ecosystems on the ground, from urban forest restoration in U.S.
The Cosmoverse conference seemed a world away from the “crypto winter” that has deflated some of the utopian hype around the alternative currencies. 6 – Blockchain eco-warriors descended on Medellin, Colombia last week to stake a claim for the role the technology can play in regenerating the planet. "And then I thought, ‘I want to do that type of investing myself.’" We couldn't run the company the way we wanted to, which was with employees in control of it.” Instead, Jones raised $4 million from 125 investors attracted to Namaste because it was employee-owned. “With every single one of them we realized we would have lost control of the mission. “We were getting calls every week from VC funds and private equity funds,” Jones says. The impetus for Kachuwa was Jones’ own experience raising capital to grow Namaste, a leading Colorado solar installer. They each get one vote on governance matters (per co-op principles, net income is distributed via “patronage dividends”). Some members have invested more than $1 million, others as little as $5,000. Boulder, Colo.-based impact fund Kachuwa has grown to more than 200 members and more than $30 million in assets. Blake Jones is “a cooperative geek.” After co-founding four co-op enterprises, including Namaste Solar and Clean Energy Credit Union, he has brought the principles of cooperative ownership to impact investing. Blake Jones, Kachuwa Impact Fund: Making co-ops work for investors, too.
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