October 13, 2020 | technology | No Comments
- Backed by Amazon and a fund led by Bill Gates, Pachama runs a marketplace for forest carbon credits.
- Carbon credits are generated when a forest is conserved or restored.
- As more companies pledge to reduce or eliminate their emissions, the market for carbon credits is expected to surge.
- Researchers challenge the efficacy of carbon credits for curbing deforestation and reducing global emissions.
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In late August, a forest fire, set by lightning and emboldened by climate change, whipped across the Santa Cruz Mountains in California, ultimately burning more than 85,000 acres.
Diego Saez Gil’s home was among its victims.
Ironically, it was in that home that Saez Gil dreamt up the idea for his startup, Pachama. Founded in 2018, the company aims to fight climate change — which makes wildfires more common and severe — by protecting forests.