Carbon Direct, a science-first carbon management firm and software provider, announced a $60m funding round led by Decarbonization Partners, a partnership between Temasek and BlackRock, and Quantum Energy Partners.
Carbon Direct is the leading carbon management firm working to help its global clients to meet their climate goals by reducing and removing carbon from the atmosphere. The company enables organizations to turn industry-leading carbon science into climate action through its end-to-end carbon management platform.
Carbon Direct is helping lead the industry in creating quality criteria for carbon credits, reducing supply chain emissions, procuring low-carbon fuels and materials, and facilitating large-scale carbon credit and removal procurement. Carbon Direct will use the growth capital to continue investing in its science-based carbon management platform and will continue applying its rigorous science-first approach while expanding its offerings.
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“Carbon Direct’s platform turns industry-leading carbon science into action through software and market expertise,” said Jonathan Goldberg, CEO of Carbon Direct. “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 Decarbonization Partners and Quantum Energy Partners will help us scale the work we are already performing for industry leading clients.”
The United Nations’ Intergovernmental Panel on Climate Change most recent report states to meet the agreed upon climate targets and to avoid the worst impacts of climate change, emissions from all sectors of the economy must be reduced aggressively while also removing billions of tonnes of carbon from the atmosphere per year by 2050.
“The transition to a net zero reality requires organizations to act boldly in managing their carbon emissions,” said Dr. Meghan Sharp, Global Head of Decarbonization Partners. “Carbon Direct, Inc. brings together a unique combination of science and software, enabling organizations to implement highly effective climate action at scale. We are pleased to support the company’s science-based approach to carbon management and we see a significant opportunity to build on the company’s strong existing momentum.”
“Organizations will need to significantly change how they manage their carbon footprint in order to meet their climate goals,” said Jeffrey Harris who oversees Quantum’s Innovation Fund. “We believe the combination of science and market expertise uniquely positions Carbon Direct, Inc. to enable organizations to operationalize carbon management and have a meaningful impact on climate change. We are excited to support the company’s next phase of growth.”
Source: Business Wire
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