Recapture is a company offering carbon removal services that is one of the two finalists that won the Best World-Changing Idea LATAM category of the Fast Company’s World Changing Ideas Awards 2021. Recapture is one of the carbon offsetting companies with a unique approach to the concept of using negative emissions technologies and natural sinks to reduce emissions.
It has created a profitable carbon capture model that offers its clients the opportunity to offset their emissions without incurring high costs.
“We are deeply grateful to be recognized by Fast Company. Recapture is more than just a company working on ending the climate crisis. It is also our mission to show the world that capitalism and idealism can work alongside one another,” said Philip-Michael Weiner, one of the Founding Partners of Recapture.
The company starts with carbon sequestration. It identifies appropriate areas of land to plant with hybridized fast-growing types of trees. Once mature, it harvests the trees and sells them to industries that use the wood to replace carbon intensive cement and steel.
It gives the revenue with interest back to their clients. The remainder is invested into DAC technologies for extra CO2 removal. The carbon removal system the company developed, has been estimated to be 10 times more efficient than natural solutions on their own.
It combines climate smart forestry, sustainable timber harvesting, profit generation from timber sales, and direct air capture to provide high quality carbon offset mechanism. It aims to fill a gap into the market where companies are not supplied with enough carbon credits.
The Need For Carbon Offsetting Companies
The CEO of the leading carbon registry Verra has said that 142 million tons of voluntary markets carbon offset credits were issued in 2020. Unfortunately, only 14.5 million credits were classified as carbon removal which means there is not enough supply to meet demand.
Recapture claims to provide a solution to that problem by allowing companies to request emissions-removal allocations in its project pipelines. The company claims its projects are able to remove a company’s entire carbon footprint. They are also earning the business some positive financial return.
Fast Company’s World Changing Ideas Awards competition aims to recognize companies like Recapture with a real contribution to solving the world’s most pressing issues. Recapture is one of the carbon offsetting companies that has found a way to address the financial stress many companies experience in achieving their net zero targets.