Thursday 25 August 2022

Carbon Direct raises $60m to help companies cut emissions

Carbon Direct has raised $60 million (£50.7m) to help global companies cut their emissions and remove carbon from the atmosphere.

It will use the funding, led by Decarbonisation Partners – a partnership between Temasek and BlackRock – and Quantum Energy Partners, to continue investing in its science-based carbon management platform.

It helps create quality criteria for carbon credits, reduce supply chain emissions, procure low carbon fuels and materials and facilitate large-scale carbon credits and removal procurement.

Jonathan Goldberg, CEO of Carbon Direct said: “Carbon Direct’s platform turns industry-leading carbon science into action through software and market expertise.

“We are excited to see the growth in net zero commitments from leading companies and governments as well as recent policy momentum. Without scientific expertise, carbon commitments will have far less impact than they could. This investment from Decarbonisation Partners and Quantum Energy Partners will help us scale the work we are already performing for industry leading clients.”

Carbon management is a process through which an organisation measures, reduces and removes their carbon emissions.

Jeffrey Harris, who oversees Quantum’s Innovation Fund added: “Organisations will need to significantly change how they manage their carbon footprint in order to meet their climate goals.

“We believe the combination of science and market expertise uniquely positions Carbon Direct, Inc. to enable organizations to operationalise carbon management and have a meaningful impact on climate change. We are excited to support the company’s next phase of growth.”