We believe carbon markets are one of the greatest tools we have to achieve net zero.
Voluntary Carbon Markets (VCMs) have historically been undermined by asymmetric information. Because there’s been a lack of transparency around the quality of carbon projects, the carbon credit is often a black box, leaving buyers unsure of what they’re actually buying. We set out to fix this by providing the most accurate and trustworthy carbon project data and ratings.
Our founding story
Having met at a LocalGlobe climate event in 2019, Sylvera’s co-founders, Allister Furey and Sam Gill, realized they had a shared interest in applying technology to bring greater transparency to carbon markets.
Allister had been researching climate-forward business models while Sam was structuring carbon projects in his work as a lawyer. Together they recognized Voluntary Carbon Markets could not scale to their potential without proper data infrastructure.
“…Sylvera analyzes satellite images, 3-D laser scans and other data to estimate how much carbon is stored in trees. It crunches that information using machine-learning technology to grade the likely effectiveness of offset projects that plant or protect forests.”
“...we need reliable data to determine the quality of carbon offsets, in order to incentivize people to invest in the projects that are actually doing good — and to reward the project developers doing good work.”
“Forest-monitoring start-ups raised at least $44m in early stage funding this year. …as companies are increasingly prepared to pay to monitor forests that generate carbon offsets — which organisations can use to compensate for emissions.”
“As a growing number of companies set targets to zero out their emissions, many are turning to carbon offsets to lower their climate impact. London-based startup Sylvera Ltd is trying to boost transparency by assigning ratings to projects, similar to what S&P Global Ratings and Moody’s Investors Service do for debt issuances.”
“By examining images of nearby deforestation, for example, Sylvera’s analysts are able to determine whether a project developer has used an appropriate baseline to estimate what would have happened if offset revenue were not used to protect the project area. ”
“Demand for carbon offset projects is expected to increase significantly over the next several years. While the carbon offsets are poised to grow rapidly, however, the market lacks a trusted, independent, universal benchmark to assess the projects. Sylvera was founded to address these issues.”
“Energy offsets have typically been the most popular. They’re the cheapest to buy, typically costing two to four times less than nature-based credits. However, according to a report by Sylvera, nature-based credits are becoming increasingly sought after.”