Climate solutions provider Patch announced the launch of a new platform offering companies with software, data and expertise to streamline purchasing and management of carbon credits.
According to Patch, the new platform is aimed at addressing a series of key challenges that are keeping the voluntary carbon market (VCM) from reaching its potential, including market fragmentation, with buyers required to sift through a broad range of suppliers, technologies and standards, with varying levels of information available about each project, lack of trust, with a need to find, analyze, and compare data across projects while relying on data that isn’t standardized, and is difficult to access, and process inefficiencies, across sourcing, diligence, procurement, and post-purchase management.
In a post announcing the launch of the new platform, Patch CEO and co-founder Brennan Spellacy said:
“It’s often said that compliance is the key to driving more money to carbon markets. But even if the world’s biggest companies collectively decided to deploy a fraction of their profits toward carbon credits, would they be able to?”
According to Patch, the new platform provides infrastructure to make the end-to-end process more efficient, including establishing a carbon credit strategy, sourcing, due diligence, purchasing and management.
The new platform combines data, expertise and software, Patch added, with key features including centralization of project information, prices, and availability into a single view, Patch’s climate science team to help develop and impactful strategy and provide execution support, and AI-powered technology to centralize and accelerate carbon credit purchasing and management.
Spellacy said:
“After working with hundreds of carbon credit buyers, one thing is clear: even the most experienced sustainability teams still struggle to scale their impact. With Patch’s new platform, we’ve brought together trusted expertise and data in one place – making it easier for CSOs to build and execute high integrity and high impact carbon programs”
