UK startup ClimaFi is looking to harness the power of the masses to build a new type of carbon trading platform. The company is in its pre-seed phase on Seedrs and will be using the funds it manages to attract for developing a platform that ultimately helps restore global peatlands.
Perhaps overlooked in comparison to reforestation and farming projects when it comes to emissions, peatlands are actually some of the largest carbon sinks in the world and have the capacity to absorb double the carbon dioxide that forests do.
ClimaFi’s approach is focused on reliable data. The startup plans to create a system connecting blockchain, satellite technology and AI all into one platform that can generate carbon credits and make them available to companies and individuals.
CEO Tim de Rosen says: “Our unique advantage is our focus on harvesting verifiable data from multiple sources to establish accurate baselines and ongoing monitoring that can clearly demonstrate the effectiveness of restorations for the duration of each project.”
Relevant: UK Natural Carbon Sink – Peatlands Are Burning, Despite Government Ban
This approach will hinge on the Peatland Protocol – a standard created by the company that puts measurement, reporting and verification (MRC) front and center. It will focus on measuring how much CO2 is actually being sequestered and will have an independent advisory board to keep it in check.
Tim de Rosen adds that ClimaFi chose crowdfunding because “we want to build a community of supporters around our mission to help restore global peatlands.”
This community is set to be part of the winning formula for the ClimaFi carbon trading platform, called CLMT. The campaign will be open fo public investment on March 22 and you can find out more about it here.
Read more: Carbon Sequestration Efforts In Ireland On The Rise With Peatlands Restoration Project