HeavyFinance announces carbon credit plan
European climate tech investment marketplace HeavyFinance has partnered with global carbon markets expert ClearBlue Markets to generate 250,000 carbon credits from 100,000 hectares of agricultural land.
The partnership is part of HeavyFinance’s mission to remove one gigaton of carbon dioxide from the atmosphere by 2050.
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“Corporations worldwide are becoming increasingly familiar with carbon pricing and are looking for the best advice on implementing a feasible emission reduction strategy,” said Laimonas Noreika, founder of HeavyFinance.
“Combining with global leaders in the environmental-sphere, we can offer the best-split financing scheme and help stakeholders in each company find the right buyers.”
Based on HeavyFinance’s projections, the project will generate the 250,000 offset credits by the end of the year, and ClearBlue will help market and sell at least 40 percent of the credits’ total volume upfront.
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The remaining credits will be sold over time, with ClearBlue receiving a fixed percentage.
“Implementing effective carbon pricing to drive emission reductions is critical to ClearBlue’s mission,” said Michiel ten Hoopen, chief carbon investment officer at ClearBlue.
“Realising this objective requires transparency and the development of quality projects. HeavyFinance is a reliable player that shares ClearBlue’s values and commitment to emissions reduction projects that are created responsibly and reach fruition.”
HeavyFinance is also solidifying its position through the agricultural projects it offers. In a June update, the company said investors had financed €992,000 (£852,000) of agricultural projects, with the capital spread across 47 different loans.
In total, €39.44m was issued to farmers in June 2023 and repayment volumes increased on a year-on-year basis.
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