The world’s first accelerator program for reforestation projects that sequester CO2 has just launched. Terraformation – a global reforestation company, announced on November 3rd that it releases the Seed to Carbon Forest Accelerator – the world’s first biodiversity-focused, carbon-funded forest accelerator program.
The accelerator is unique in the industry and aims to bring support to forecast carbon projects that are in great need amid rapidly accelerating climate change. The goal is to provide forestry teams with the tools to launch restoration projects and succeed at scale. It also wants to unlock vital funding needed to increase the supply of premium-quality nature-based carbon credits. Applications are now open for the inaugural class of forestry teams with participants announced in early 2023.
The program works as carbon buyers and companies who provide early financing to the accelerator cohorts, lock in access to the premium-quality carbon credits the projects generate. Buyers will have a secured access to a portfolio of verified carbon credits from geographically diverse projects selected by the company’s carbon science team. The goal of the accelerator is to connect with finance partners to launch a new cohort early next year.
The company behind the initiative – Terraformation started in 2017 when its founder Yishan Wong began evaluating the most prominent climate change solutions. Through his research, he found that native forest restoration outperforms any other known method of carbon capture by nearly an order of magnitude.
According to him, mass forest restoration at a large scale would draw down enough carbon to meaningfully stabilize the climate.
The company started its global programs in 2020, and since then it has successfully launched 16 restoration projects across 11 countries and created more than 400 new sustainable jobs. The Seed to Carbon Forest Accelerator is considered a continuation of the company’s success in building forest restoration projects.