ShiftCarbon Inc., a Vancouver-based company, offers tools that allow businesses to measure their climate impact and connect to a global carbon credit platform for purchasing greenhouse gas offsets. The company’s platform connects to major carbon markets around the world, enabling users to trade carbon credits on global exchanges. ShiftCarbon’s goal is to simplify the process of purchasing carbon credits, which currently requires buying through multiple venues and creates complexity. The company also has an interest in battery recycling and has expressed interest in acquiring a UK-based battery recycling company, Zero Carbon Technologies.
ShiftCarbon’s main offering is a carbon calculator called Focused Footprint, which helps businesses understand their climate impact. The company has industry-specific tools for various sectors, such as marine, agriculture, and manufacturing. ShiftCarbon works in consultation with companies to serve as a delivery mechanism for carbon credits. It has connections and registry accounts with major carbon credit markets, making it a clearing house for carbon credits.
One of the challenges in the carbon credit industry is establishing trust in the credits. ShiftCarbon addresses this by performing intensive research on the quality of the credits before adding them to its platform. The company is qualified with carbon credit verification organizations Verra and Gold Standard.
ShiftCarbon has seen fast growth, with revenues approaching $5 million expected in 2023. It serves large financial institutions and energy companies with a global reach. The company has also partnered with Patch, a San Francisco-based company that operates a market platform for carbon removal projects.
In addition to its core business, ShiftCarbon has expressed interest in the battery recycling sector. The proposed acquisition of Zero Carbon Technologies is part of a corporate reorganization to help ShiftCarbon become a private, non-listed company. If finalized, the acquisition would result in the formation of an independent entity, with ShiftCarbon operating under its subsidiary, Wishland Properties Ltd. The public company’s name would be changed to Zero Carbon, and it would continue developing battery technology in addition to its carbon credit services.
Overall, ShiftCarbon aims to provide a holistic solution for businesses to measure their climate impact, purchase carbon credits, and potentially engage in battery recycling to reduce environmental impact.
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