London-based climate tech company Sylvera has recently raised $57 million. This recent financial coup bolsters Sylvera’s mission to accelerate the global transition to net zero emissions by bringing transparency to the carbon offsetting market, says the company in a press release.
- London-based Sylvera raised $57 million to bring transparency to the carbon offsetting market
- The platform combines technology and evaluation methodologies to provide reliable data for tracking progress towards net zero targets.
- The company aims to remove 10 Gigatonnes of CO2 annually by 2050
Democratising access to carbon data
Sylvera is addressing a crucial gap in the global climate action landscape: the lack of reliable data to track progress against net zero targets and validate carbon emissions reductions. To tackle this issue, Sylvera has developed a platform that combines technology with robust carbon project evaluation methodologies. This approach provides a holistic view of organisations’ progress towards net zero, thereby incentivising genuine climate action.
Sylvera’s platform uses a range of technologies, including satellite imagery and 3D scanning, to feed algorithms that analyse the amount of carbon stored in trees. These data sources, combined with rigorous assessment frameworks, allow Sylvera to deliver accurate ratings of carbon capture, removal, or emissions avoidance projects.
From London to New York
A significant portion of the funding will be directed towards establishing a foothold in the United States, with the opening of an office in New York.
10 Gigatonnes
The company is on a quest to make net zero a reality, facilitating a significant reduction in CO2 emissions and removing around 10 Gigatonnes of CO2 from the atmosphere annually by 2050. Their strategy hinges on establishing trust in carbon credits and creating financial incentives for organizations committed to serious climate action. By ensuring that funding is directed towards projects with the greatest climate impact, Sylvera is incentivizing the scaling of climate contributions towards net zero.
