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Climate-focused startup Sylvera announced today the launch of its new carbon offset ratings platform, aiming to provide transparent, independent, ongoing and reliable assessments for the rapidly growing market of carbon offset projects.
Demand for carbon offset projects that counteract the release of greenhouse gases is expected to increase significantly over the next several years, as companies and businesses increasingly launch net zero ambitions, and turn to offsets as a bridge to their own absolute emissions reduction efforts, or to balance difficult to avoid emissions. According to a recent report from Fitch Ratings, increasing demand driven by tightening climate policies will cause demand for carbon offsets will exceed supply within the next five years.
While Sylvera estimates that carbon offset markets are poised to grow at least 15x by 2030, the market lacks a trusted, independent, universal benchmark to assess the projects. Sylvera was founded in 2020 by Dr Allister Furey and Samuel Gill to address these issues. The new platform leverages geospatial data, machine learning and proprietary climate data to create a reliable and transparent assessment of carbon offset projects.