To prevent the most devastating consequences of climate change, the world needs to cut global greenhouse gas emissions 50% by 2030 and be well underway to a Net Zero transition in 2050. One way to speed up this transition is through the use of carbon markets.
Carbon markets may have the potential to help the world reach Net Zero emissions, but further investment is needed to unlock their full potential. These investments — funds, resources, ideas, and technology that can bring carbon markets to scale — cannot come only from governments. In fact, carbon market success requires a global effort, with business playing a leading role.
Salesforce, UpLink create challenge to help find carbon market solutions
Salesforce aims to do its part to invest in carbon markets through a funding partnership with UpLink.
UpLink is a digital platform that connects global ‘ecopreneurs’ — passionate, environmentally-minded entrepreneurs who lead and drive climate action worldwide — with people and resources that address critical global challenges, including climate change.
Together, UpLink and Salesforce launched the Carbon Market Challenge, a global competition to find innovative solutions that use carbon markets to help unlock financing and technologies to support conservation, restoration, and land management for people, the climate, and nature.
The winners, which were announced this week, will be invited to a four-month accelerator program facilitated by the World Economic Forum and its partners. The program will help the winners gain visibility, attract partners and funding, and scale their solutions to accelerate their impact. They include:
- Chloris Geospatial, which uses satellite data and artificial intelligence to create products that enable organizations to confidently invest in Nature Based Solutions.
- KatinganMentayaProject, of RimpaMakmur Utama, is living proof that carbon finance can combat climate change. The project is protecting and restoring 157,875 hectares of peatland forest in Indonesia, making it the largest program of its kind.
- MyEasyCarbon accompanies farmers on a daily basis in order to make the right decisions and to be more efficient to optimize competitiveness and profitability, while preserving the environment.
- MyTreesTrust is on a mission to reduce the rate of loss of natural woodland in Zimbabwe, in order to preserve biodiversity at scale within threatened landscapes.
‘Ecopreneurs’ have an important role to play in climate change
After more than 20 years of progress in carbon markets, there are still significant barriers to harnessing their potential and in particular, making room for innovators to contribute to the success and scale of their impact.
For example, nature-based solutions – such as conservation efforts – are a core component of carbon markets due to their ability to increase carbon storage and reduce emissions. Innovative nature-based solutions could deliver a total of 100 gigatons in CO2 reductions by 2030, but they’re underfunded and often unable to connect to the resources they need in order to scale.
Salesforce works with nature based solution ecopreneurs such as Sea of Change, which restores mangrove forests in Myanmar and educates the local population on how vital they are to the reduction of carbon emissions.
Ecopreneurs are needed at every level of this marketplace to help close the gap, particularly as the voluntary carbon market is expected to explode in size.
Carbon market investment is critical to climate mitigation efforts
Leveraging carbon markets to channel investments into nature based solutions puts climate, nature and people at the center. Nature-based solutions can deliver over one-third of the climate mitigation required by 2030. They are a critical component of carbon markets, as they sequester carbon from the atmosphere.
All told, Salesforce is projecting a need for millions of ecopreneurs to energize this work. Through its partnership with UpLink, progress is being made, but more is needed to meet the moment. Both organizations hope that opportunities to invest, such as the Carbon Market Challenge, inspire other businesses to join the movement as well.
- To see a full list of the Carbon Challenge winners, go here.
- Carbon market challenge partners include: