Climate startup CUR8 raises $6.5M from GV for its market-making platform for carbon removals

Variety
31-05-2023 | 10:32
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Climate startup CUR8 raises $6.5M from GV for its market-making platform for carbon removals
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Climate startup CUR8 raises $6.5M from GV for its market-making platform for carbon removals

The IPCC, has said the world needs to remove 10 billion tons of carbon dioxide out of the atmosphere by 2050 in order to avoid a climate cataclysm. And, yes, there are now multiple methods for carbon removal such as planting more trees (afforestation), sucking CO2 out of the sky (direct air capture), and spreading CO2-absorbing rock on agricultural soil (‘enhanced weathering’). But it’s widely accepted that none of these methods alone will solve the carbon problem, and that the carbon removals industry is a nascent one, and often full of scams and chaotic messaging, to put it mildly.

Indeed, it was recently revealed that more than 90% of rainforest carbon offsets offered by the biggest certifier were worthless and could in fact worsen the problem. Research into Verra, the world’s ‘leading’ carbon standard for the $2bn voluntary offsets market, found more than 90% of their rainforest offset credits were likely to be “phantom credits”.
 

Climate

Startup

CUR8

Raises

GV

Market

Making

Platform

Carbon

Removals

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