Terraset, a leading climate non-profit, has announced a substantial investment in carbon removal by acquiring 5,000 tons of carbon removal credits from 11 innovative organizations. This strategic purchase not only supports the growth of these projects but also allows donors to benefit from tax deductions. Such efforts are part of Terraset Carbon credits sustainability strategy.
As a 501(c)(3) nonprofit, Terraset focuses on funding permanent, high-quality carbon dioxide removal (CDR) initiatives. The selected organizations include Andes, Capture6, Charm Industrial, Climeworks, Frontier, Graphyte, Heirloom, Octavia Carbon, Planetary, Spiritus, and TerraFixing. These initiatives align with the broader goal of Terraset Carbon credits sustainability.
The initiative has garnered support from several donors, including the Grantham Foundation and Conscience Bay Research. Influential investors such as Paul Graham, Tim Ferriss, and Calvin French-Owen have also contributed.
Additionally, employees from major companies like Google, PG&E, IBM, and Rakuten participated through matching gift programs, greatly enhancing the impact of this philanthropic effort towards Terraset Carbon credits sustainability.
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Urgency for Action
The need for immediate carbon removal is critical, as experts warn that carbon captured today is far more valuable than carbon captured in five or ten years. Immediate action contributes significantly to Terraset Carbon credits sustainability.
A spokesperson for Terraset emphasized that carbon removal needs more buyers immediately, or it will not scale to meet the planet’s demands. This statement underscores the pressing nature of the climate crisis and the necessity for proactive measures.
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Future Investments
In a recent blog post, Terraset outlined plans to invest over $15 million into carbon removal companies in the coming year. This financial commitment reflects the organization’s dedication to advancing effective CDR technologies essential for addressing climate change.
Furthermore, Terraset’s Director of Strategic Growth, Taylor Inslee, participated in the recent Carbon Unbound West Coast webinar, where he introduced the Live Carbon Removal Marketplace. This platform aims to enhance accessibility and promote the scalability of carbon removal solutions.
Terraset’s significant investment highlights the critical role of philanthropic support in developing effective carbon removal technologies, vital for achieving a sustainable future.