Singapore-based hospitality & travel-focused venture capital firm Velocity Ventures has announced its latest investment with New Zealand enviro-tech company CarbonClick.
Funds will be used to boost CarbonClick’s expansion into Asia with a regional office in Singapore scheduled to open in 2023. Priorities are to help travellers across Asia to understand the right way to approach carbon offsetting
B Corp certified, CarbonClick is a global leader in high-trust climate action, working with over 1,000 brands around the world. Since its inception in 2017, CarbonClick has made notable inroads with its expertise in the aviation, travel, and airports sectors.
CarbonClick helps build consumer trust in carbon offsets programmes by providing full details of the offset by ensuring a receipt is emailed to each customer, showing where and how their contributions have been used with a “track and trace” feature.
Key global travel partners that CarbonClick is helping to complement their sustainability programmes with voluntary carbon offsetting programme for travellers include Etihad, Amadeus and London Stansted Airport. It also offers businesses a climate friendly “Green Button” checkout option for their customers via a Climate Friendly Cart available at SAP’s global online marketplace.
For international projects, CarbonClick only selects projects certified to the highest international standards, and contain co-benefits to communities (e.g. water, energy, job creation) wherever possible.
CarbonClick’s independently verified selection methodology uses many of the same stringent requirements of the International Carbon Reduction and Offset Alliance (ICROA) Code of Best Practice and elected projects undergo a qualitative review by CarbonClick’s network of industry experts.
In Southeast Asia, CarbonClick currently supports Rimba Raya Biodiversity Reserve, a project in Indonesia’s Central Kalimantan which protects 65,000 hectares of peat swamp, avoiding more than 130 million tonnes of carbon emissions.
Home to 300 species of birds, 122 species of mammals and 180 trees and plant species, Rimba Raya became the first REDD+ (Reducing Emissions from Deforestation and Forest Degradation) forest-carbon project in the world to receive triple-gold validation under the Climate Community and Biodiversity Alliance Standard (CCBA).