22 Acquisition International - Worldwide Finance Awards 2022 Jun22173 Best Carbon Finance Project - NSW s we are confronted by the devastation climate change is levelling on the global community, governments and industry have a renewed sense of urgency to take action to reduce carbon emissions and reach net-zero. This sense of urgency was crystalised following COP26 in Glasgow last year, with more than 1,200 organisations making net-zero pledges. While this effort to reach net-zero is welcome news, perhaps the biggest challenge facing the global economy is how to accurately measure and price carbon removal efforts to help ensure emission reduction efforts are effective. At the heart of this challenge is the need for confidence and transparency in carbon markets. From ensuring accurate and timely pricing and valuations of carbon credits to originating and validating carbon projects, governments and businesses around the world need to be able to view carbon as a dependable commodity. To help governments and industry meet this net-zero challenge, Viridios Group was formed with the aim of helping to improve transparency in the voluntary carbon markets (VCM) to ensure the effective allocation of capital in carbon reduction and removal projects. Operating a unique tripartite business model, Viridios Group helps to drive investment in the VCM through improving carbon credit transparency, quality and confidence. It also brings together three critical components of the VCM through its origination & capital markets, asset management and data and technology businesses. In a bid to improve confidence and transparency on the carbon market, Viridios saw an opportunity to provide government and industry with more accurate carbon credit pricing, valuation and project information. In line with this, it established Viridios AI and developed the VAI platform which allows subscribers to see the latest carbon credit transaction data and access verified information on carbon offset projects. To further enable transparency in the market, it made data feeds available through S&P Global Commodity Insights on the Platts CARBEX Carbon Credit Indices and Climate Impact X (CIX) in Singapore. As a result, businesses, brokers and asset managers now have access to a reliable source of carbon credit pricing data, which will help improve transparency and instil confidence as they seek to invest and trade across the VCM. Another major challenge in the voluntary carbon market is bringing local communities and project developers together with investors and traders. Again, Viridios saw an opportunity to help. By working with project developers, it is able to help create the high value nature based carbon credits sought after by industry. From its Mai Ndombe A REDD+ project in the Congo to its Rimba Raya Biodiversity Reserve Project in Borneo, Viridios is bringing carbon offset projects to life. Supported by the Congolese Government, the Mai Ndombe REDD+ project protects areas zoned for logging using carbon revenues to halt the reinstatement of commercial logging contracts. This reduces unsustainable deforestation and contributes to several sustainable development goals (SDGs). The project funds medical programs such as mobile clinics, vaccination services and HIV testing. It also built six schools attended by nearly 3,000 students and distributed 8,500 learning supplies. Similarly, the Rimba Raya Biodiversity Reserve Project in Borneo is having a positive impact on the local community and the environment. The project preserves 91,215 ha of tropical peat swamp forest on the southern coast of Borneo in Central Kalimantan. The HCV (high conservation value) zone contains 104,886,254 tCO2e and over 94 endangered, threatened and vulnerable species. The creation of the Reserve stopped the development of palm oil plantations and avoided the ecological degradation and forced migration of indigenous communities. It also prevented the burning of forest and draining of peatland which would have released above and below ground carbon deposits. Critically though, it equates to a net GHG emission reduction of approximately 36,505,191 tCO2e. By being able to create and understand these nature based carbon offset projects, Viridios is uniquely placed to help sophisticated investors access a diversified, global portfolio of high-quality certified carbon credits. Through its VT Carbon Partners Fund, a joint venture with Tribeca, Viridios is helping to drive capital into carbon reduction projects and deliver returns for investors and the communities the projects support. By providing the right amount of funding Viridios aims to help remove emissions in line with the net-zero Paris targets. It’s clear the world is faced with an existential challenge but it’s a challenge Viridios believes can be met. The sense of urgency to reach net-zero is being felt across the global community and most recently it was illustrated through the support of the UN’s Race To Zero campaign, which now covers 1,049 cities, 67 regions, 5,235 businesses, 441 investors and 1,039 higher education Institutions. In turn, this is creating a sense of urgent momentum across carbon markets and with companies like Viridios working to improve transparency and drive investment, the world is well placed to reduce carbon emissions and reach net-zero. Company: Viridios Capital Pty Ltd Website: www.viridioscapital.com
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