NEW YORK - Thursday, 03. November 2022
The first-of-its-kind accelerator will unlock vital funding needed to increase the supply of premium-quality nature-based carbon credits
Applications now open for inaugural class of forestry teams with participants announced early 2023
Opportunity for companies and other funders to access premium carbon credits in an increasingly scarce market
(BUSINESS WIRE) -- Terraformation, a global reforestation company, has launched the Seed to Carbon Forest Accelerator, the world’s first biodiversity-focused, carbon-funded forest accelerator program.
In the next decade, the world will need thousands of new reforestation teams to capture carbon at scale and limit the impacts of climate change. The new forest accelerator will help meet this need by providing forestry teams with the tools to launch restoration projects and succeed at scale. These include early-stage financing, training in resilient native ecosystem restoration, and tools to increase project transparency in critical early stages.
This wraparound platform to launch emerging forestry teams is unique in the industry and brings much-needed support to expand the supply of forest carbon.
The carbon buyers and companies who provide early financing to accelerator cohorts lock in access to the premium-quality carbon credits the projects generate. By providing this financing, buyers secure access to a portfolio of verified carbon credits from geographically diverse projects selected by the company’s carbon science team. Terraformation is looking to connect with finance partners to launch a new accelerator cohort early next year.
The accelerator program is a direct response to the largest bottlenecks to mass-scale restoration: in a recent Terraformation survey of 230 forestry organizations around the globe, 95% of respondents said funding was their biggest concern.[1]
The accelerator builds on Terraformation’s successful pilot restoration projects. Since the company began its global programs in 2020, it has successfully launched 16 restoration projects across 11 countries and created more than 400 new sustainable jobs.
Yishan Wong, founder and CEO of Terraformation, said: “The planet needs to rapidly scale reforestation efforts to address the climate crisis. And more investors than ever are looking for opportunities in carbon capture. But there hasn’t been a clear vehicle providing those investors access to high-quality carbon credits. At the same time, communities around the world are launching vital restoration efforts, but lack the funding, training and technology they need to scale.
“Our accelerator will rapidly expand the number of high-quality forest restoration projects and increase the planet’s capacity for carbon capture.”
María José Iturralde, co-founder of Humans for Abundance, a Terraformation restoration partner, said: “Funding can turn land management around by supporting new sustainable business models that replace deforestation for profit. Startup capital creates opportunities for training, education and infrastructure that allows communities to sustainably restore ecosystems and commercialize their new products in a new way.”
Apply to the accelerator
Applying to and participating in the Seed to Carbon Forest Accelerator is free and open to all forestry teams that prioritize biodiversity and benefits to local communities. Interested organizations and forestry teams are invited to apply to the accelerator beforeNovember 27, 2022. Read more and apply here.
Selected teams will receive a feasibility study to assess carbon project viability on their land, as well as access to expert training in seed collection and banking, biodiverse forest restoration, sustainable business models, marketing and finance. Teams will also receive access to carbon buyers, as well as to new, state-of-the-art project tracking software to streamline monitoring, reporting and verification of project progress, and more. Terraformation will encourage forestry teams to promote women’s leadership, offer community education and create sustainable, local economic impact.
Forestry teams selected to participate in the first cohort will be announced in early 2023.
Fund new forest carbon projects
Carbon buyers and companies interested in funding accelerator forest projects and accessing premium-quality, biodiverse, verified carbon credits can learn more here.
*ENDS*
NOTE TO EDITORS:
About Terraformation
Terraformation is dedicated to restoring the world’s forests to stabilize our climate, revive ecosystems, and build thriving communities.
The company hosts a forest carbon accelerator, supporting early-stage forestry teams to launch, build, and scale biodiverse reforestation projects. In addition to producing high-quality, verified carbon credits, these projects generate complementary sustainable revenue streams to support local economies.
Terraformation’s current partner network spans five continents and includes diverse landowners and organizations. It was founded in 2019 by Yishan Wong, former CEO of Reddit.
Footnotes
[1] Terraformation research conducted in summer 2022 with a survey of 230 respondents from 63 countries. Interviews were also completed with 70 respondents from 29 countries.
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