Amsterdam’s Cawa secures €500K to boost transparent carbon credit sales
Cawa, an API infrastructure enabling carbon accounting and ESG platforms to sell transparent, high-quality carbon credits, announced that it raised € 500,000 in a new funding round.
Shamrock Ventures, a venture capital fund specializing in sustainable technology investments, led the financing round, which was supported by Golden Egg Check Capital and experienced angel investors.
Kees van Santen, co-founder of Cawa, added in a press release, “This funding round demonstrates investors’ belief in the necessity of a transparent voluntary carbon market with high-quality carbon credits. The goal is to support as many good climate projects as possible by helping them secure funding. With this investment, we can assist more companies in responsibly purchasing carbon credits and developing climate projects.”
The company says it emerges at a crucial time for the voluntary carbon market (VCM).
Achieving the Paris Agreement goals requires significant investments in climate projects like reforestation and innovative carbon removal initiatives. The VCM allows project developers to obtain funding by selling carbon credits to companies.
Read more: Microsoft to receive 8 million carbon credits from investment group in largest-ever sale
To bring more companies to the VCM, Cawa addresses three key issues.
- Currently, the market is highly opaque, with up to 85% of climate financing from companies not reaching the climate projects but going to intermediaries.
- Many projects’ carbon credits do not genuinely guarantee the removal or reduction of 1 tonne of CO2.
- Companies have a hard time communicating their climate contributions through carbon credit purchases.
Cawa’s API platform enables platforms and companies to integrate the purchase of transparent, high-quality carbon credits. These APIs also allow for the connection of each carbon credit transaction to individual customers, employees, or other stakeholders, offering comprehensive information about the impact of their contributions.
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