Climate action platform Patch has signed a multi-million dollar deal with carbon removal developer Varaha to channel investments into durable CO2 removal solutions in Asia.
Varaha is focused on helping smallholder farmers deliver impactful carbon removal results while accessing revenue from CO2 credits. On its mission, the company has already attracted financial support from more than 35 companies through its collaboration with Patch.
The carbon removal investments facilitated via this partnership will go towards a diverse portfolio of projects in Southern Asia, centered around regenerative agriculture, reforestation, and biochar.
Collectively, these initiatives are said to have removed more than 1.5 million tonnes of atmospheric CO2 until now.
Beyond this climate-positive effect, they are also stated to have improved the livelihoods of over 100,000 local farmers operating across more than 1M acres of land in two different Asian countries.
One of the landmark projects to deliver carbon credits for the Patch-Varaha collaboration is a major biochar project that tackles invasive species and restores degraded grasslands.
As part of its operations, this project is said to have restored 4,000 hectares of grassland so far, improving vegetation growth by 31% and enabling local inhabitants from 145 villages to access a carbon credit revenue totalling $2.19 million.
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Patch CEO and co-founder Brennan Spellacy commented, “Together, Patch and Varaha are helping companies responsibly deploy funds to carbon credit projects—helping to unlock billions in climate finance. This marks the start of an exciting journey — and we’re just getting started.”
He goes on to share that Patch is optimistic about the role of carbon markets in building a rebalanced future, especially as the demand for high-quality climate action continues to grow.
Conveying confidence in the impact of the selected projects, Madhur Jain, CEO and co-founder of Varaha, stated, “As our collaboration with Patch grows, we look forward to deepening our efforts in building a more transparent and efficient carbon market.”
