Pachama launches online marketplace for carbon offsetting

Source: press release, 22 October 2019

Pachama works with project developers from around the world who are executing reforestation or forest conservation projects verified following strict protocols
Pachama works with project developers from around the world who are executing reforestation or forest conservation projects verified following strict protocols (illustration: Pachama)

Pachama, a Silicon Valley based technology company, has announced the launch of its data-driven carbon credits marketplace for buying and selling carbon credits from forest restoration projects. Pachama is the first platform to use a combination of LiDAR, satellite images and artificial intelligence (deep learning algorithms) to measure carbon captured by forests, to validate and monitor the claims of forest carbon projects. These verified forest carbon credits – certified also by third party bodies – are made available for purchase via Pachama’s online marketplace.

Pachama’s machine learning models have achieved less than 1.5% error with 97.5% confidence at estimating carbon stocks in forests of New England, demonstrating an unprecedented level of accuracy for forest remote sensing. The models are trained with LiDAR data of the forests and applied to high definition satellite imagery for monitoring. The company is expanding these models globally, with the inclusion of new LiDAR data coming from NASA and other sources, with the goal of developing an up-to-date global forest carbon map.

For businesses interested in offsetting their emissions through purchasing reforestation carbon credits, they can:

  • Sign up on the online marketplace via the website pachama.com.
  • Confirm the level of carbon emissions they are looking to offset.
  • Access and purchase a portfolio of verified forest conservation or restoration projects.

Diego Saez Gil, CEO and founder of Pachama, says, “Currently only 2% of funding for climate change solutions goes to forest restoration. Meanwhile reforestation has the potential to drawdown two thirds of the extra CO2 in the atmosphere, being one of the most meaningful solutions to climate change. Pachama was created to accelerate reforestation as a solution to climate change through carbon markets. By providing businesses with an easy and trust-worthy way to purchase data-verified forest carbon credits, we’re directing much-needed funds to reforestation projects globally.”

Gustaf Alströmer, Partner at Y Combinator and investor in Pachama, comments, “Many businesses are committing to offsetting their carbon emissions, and looking for the most trusted and quantifiable method for voluntarily offsetting their carbon emissions. Pachama’s new carbon credit marketplace meets this need. Pachama is launching at a pivotal time in history with the awareness of the climate crisis reaching an all-time high, and I look forward to seeing the company scale the carbon credits sector globally.”

“Bluesource is pleased to provide offsets to Pachama in its efforts to take meaningful action on climate change. We believe our high-quality forest carbon projects are a great fit with Pachama’s efforts to bring efficiency, transparency, and scalability to the voluntary forest carbon market,” says Lizzie Aldrich, Vice President at Bluesource.