A tree-planting, carbon offsetting firm is eyeing up a London listing in hopes of turning around the bad smell surrounding carbon investments.
Carbon Done Right, formerly Klimat X, self-described as ‘the world’s first smallholder farmer carbon credit reforestation company, is seeking a dual listing of its shares on London’s AIM market.
The firm says its aim is to unlock the full potential of existing smallholder rainforest planting projects by leveraging proprietary technology to create high-value, best-in-class carbon credits that offer positive ecological and social outcomes.
Through the use of artificial intelligence and blockchain, the company monitors the health of trees it plants and tracks carbon sequestration data for farmers and customers.
Currently, Carbon Done Right‘s existing project footprint is across the forests of Sierra Leone and it intends to expand operations beyond the existing 57,000 hectares to at least 100,000 hectares.
The same model will then transfer to other countries across Africa, starting in Ghana and Liberia.
The firm said it recognises that confidence in the voluntary carbon markets has been “eroded due to the poor practices of others”, including low transparency levels and poor deals for governments of developing countries.
But if the approval process, set to conclude by early Q2, goes smoothly, the company believes a listing will open it up to a new pool of investors and future growth funding options.
Commenting on the news, James Tansey, chief executive, said: “We are committed to providing quality, transparent credits and simplifying the offset buying process and the incorporation of proprietary technology will see us become a vertically integrated business active in nature-based projects.
“This reflects our mission to provide our buyers extraordinary levels of trust and traceability along all aspects of the carbon offset supply chain and live by our name Carbon Done Right.”