alleged fraud and ties to illegal loggers in Brazil<\/a>.<\/p>\n“The reason we quadrupled down on Mombak is they’ve got a very credible approach,” he said.<\/p>\n
Mombak, which turns degraded pastureland back into jungle, is benefiting from a “flight to quality,” its co-founder and Chief Executive Officer Gabriel Silva said.<\/p>\n
“Buyers were previously buying carbon credits but didn’t know what they were buying. So they got involved in poor-quality, sometimes fraudulent projects,” he said.<\/p>\n
To raise the bar for nature-based carbon removal, Google joined forces last year with Meta, Salesforce, McKinsey and Microsoft, the biggest buyer to date, creating a group of buyers called the Symbiosis Coalition.<\/p>\n
The coalition, which said on Thursday it had expanded to include Bain & Company and REI Co-op, has vowed to contract over 20 million tons of nature-based carbon offsets by 2030 that meet its more rigorous scientific standards.<\/p>\n
That includes demands for conservative and transparent carbon accounting standards, long-term preservation and benefits for biodiversity and local communities. Of 185 projects reviewed by the coalition, Mombak’s is the first to meet those standards.<\/p>\n
Brazil is the country with the most projects seeking the coalition’s endorsement, said Symbiosis Executive Director Julia Strong, adding that she expected more to clear the bar soon.<\/p>\n
Still, a scarcity of credits meeting the highest standards – and the deep pockets of those willing to pay for them – have pushed up prices. While REDD credits can retail for under $10 per ton of carbon dioxide offset, Brazil’s new reforestation startups have fetched more than $50 and even $100 per ton.<\/p>\n
“Companies are getting more efficient, in terms of producing at lower prices. We are on that path,” said Silva of Mombak. “But right now there’s way more demand than supply.” <\/p>\n","protected":false},"excerpt":{"rendered":"By Brad Haynes Google has struck its biggest carbon removal deal, agreeing to finance restoration of the Amazon…\n","protected":false},"author":2,"featured_media":505326,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3843],"tags":[728,70,16,15],"class_list":{"0":"post-553237","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-environment","8":"tag-environment","9":"tag-science","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115503696719687318","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/553237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=553237"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/553237\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/505326"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=553237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=553237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=553237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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GOOG<\/a> Google committed more than $100 million to an array of different carbon capture technologies, from enhanced rock weathering and biochar to direct air capture and a project making rivers more acidic.<\/p>\n