Velocity Ventures picks CarbonClick to raise the bar on carbon offsets
Summary
We are excited to take on a pro-active role as an investor to support CarbonClick with their hiring and business growth in Asia, while raising the bar on carbon offset programmes that companies offer to their customers. We believe this will take a twofold approach: helping consumers offset their footprint and identifying credible carbon offset projects for companies to start their decarbonisation transition by focusing on here-and-now emissions reductions, says Nicholas Cocks, Managing Partner of Velocity Ventures.Cocks added, As travel rebounds, the travel and hospitality industry has many long-term assets such as aircraft and hotels where significant emissions reduction simply is not immediately possible. Carbon offsetting for such companies offer an immediate solution while they transition to reach net zero goals. For example, airlines that are gradually replacing their existing fleet to more fuel-efficient aircraft can participate in voluntary carbon offsetting efforts to make a difference. Pricing the negative externality of carbon emissions and leading the provision of quality carbon offsets is vital to galvanize immediate action rather than prolonging collective inertia.Velocity Ventures has developed a reputation for its market-focused investment strategy targeting early to growth stage tech-enabled firms in the travel and hospitality sector.