Salesforce has developed a platform that enables organizations to make simple carbon credit purchases while helping to scale up climate positive impact.
The American cloud-based software company, which specialises in customer relationship management, has introduced Net Zero Marketplace which will launch in the States this month.
The transparent platform will connect buyers with ‘ecopreneurs’ who have developed diverse and innovative projects to capture carbon such as reforestation, wind farms, conservation of grasslands and methane capture. Once the carbon projects have been verified by a government or independent body, carbon credits will be issued (one credit for one tonne of CO2) which are then made available for sale via a broker or the marketplace.
This enables companies to buy the credits to compensate for not being able to reduce their own emissions and the investment will help ecopreneurs to develop and scale up the projects to lower climate impact.
The platform was announced during Climate Week NYC (September 19-25) which saw the world unite to showcase outstanding climate action and discuss further innovations. The annual event met for the first time since Covid-19 and the theme “Getting it Done” has never been more apt.
It has been estimated that the global voluntary carbon market will grow to $50bn by 2030 as the pressure increases for organizations to reach net zero targets. One issue surrounding carbon credits is that not all companies are aware of how to start building a carbon credit portfolio and purchasing the credits can be complex. On top of this, buyers want to be reassured that the carbon credit projects have a positive impact.
Salesforce has used its Commerce Cloud function to build the innovative Net Zero Marketplace to create a hub to connect buyers and ecopreneurs, offering various third-party rated carbon credits which can play a critical role in an organization’s comprehensive climate strategy, when used well.
The platform, which will become available to additional markets in 2023, boasts a climate action feature to help businesses and individuals to learn about climate issues.
Suzanne DiBianca, EVP and Chief Impact Officer at Salesforce, said: “The uptick in extreme weather events shows that no one is spared from climate change — we need smart climate solutions now.
“Businesses aiming to achieve long-term emission reductions can complement their efforts with high-quality carbon credits. Net Zero Marketplace brings together Salesforce’s values, technology and commitment to ecopreneurs to accelerate climate action.”
Christiana Figueres, former Executive Secretary, UN Convention on Climate Change and Co-Host of the climate change podcast Outrage and Optimism, said: “The first step of anyone’s net zero journey is clearly reducing emissions. But we now know that reducing self-generated emissions is not going to be enough.
“We’re at a moment in the climate emergency in which we need to put everything on the table. Carbon credits are a way to incentivize further emissions reductions by placing a price on carbon and making an impact now, while other climate efforts are also underway.”
Finding and verifying a carbon credit’s quality can be difficult and time-consuming. Net Zero Marketplace eliminates the uncertainty by aggregating and publishing third-party ratings for projects not locked behind paywalls or account registrations to help organizations determine which are the best carbon credits for them.
Inaugural partners of the platform include carbon credit providers such as Climate Impact Partners and South Pole, third-party rating companies Calyx Global and Sylvera and curated climate portfolio provider CO2.com.
Sam Gill, co-founder and COO at Sylvera, said: “Sylvera and Salesforce share the same mission of bringing transparency and trust to carbon markets to drive real climate impact. Quality carbon projects are a powerful and necessary tool to fight climate change, but reliable data and investment is needed to unlock their full potential.
“With Sylvera’s ratings, Net Zero Marketplace users can discover projects that deliver real climate benefits.”
Renat Heuberger, CEO, South Pole, said: “Partnering with Salesforce to create this marketplace will turbocharge climate action and empower every company — large and small — to take responsibility for its emissions.
“We are proud to provide high quality offsets to clients who understand the value of compensating for their impact on the environment. There is no time to waste, let’s take action today.”
It is expected that Net Zero Marketplace will offer nearly 90 projects across 11 countries throughout Africa, Australia, Europe, Latin America and the United States. Buyers will be able to see project descriptions, alignment with the UN Sustainable Development Goals and, for many, official third-party ratings.
Any organization can access Net Zero Marketplace to buy carbon credits and in addition they will also get updates on project progress which will encourage reinvestment.
Shaun Andah, Consultant – Sustainable Energy – Acre US, said: “This is a great initiative that Salesforce is spearheading because companies need simple and easily accessible ways of building carbon credit portfolios while being able to trust these projects are making an impact.
“Often smaller non-profit companies aim to create these spaces but lack the resources and technological expertise to execute, so the fact that a large player like Salesforce is dedicating time and resources to creating this carbon credit marketplace is very encouraging for the future.
“I am also impressed with the fact that Salesforce decided to collaborate with well-established companies in the carbon space such as South Pole and Climate Impact Partners which shows they are not looking to displace early movers in the space but use their technology and resources to make their services more accessible.”
Shaun joined Acre in 2022 to help build out a carbon desk within our Sustainable Energy & Clean Technology team. He brings ample subject matter expertise, having recruited within the renewable energy space for the last two years.
Based in New York, he will have a continued focus on expanding Acre’s US presence in the energy markets.