Rewilding forests with fungi is a new way for companies to offset their carbon emissions. Carbon offsetting has come under scrutiny, as the world’s leading certifier, Verra, found that over 90% of projects approved were largely worthless. To limit global warming to 1.5C, the IPCC warns that 1000 GtCO2 of the gas must be removed from the atmosphere this century. Forests are the globe’s greatest carbon-sucking allies, and Funga is the world’s first company using the fungal microbiome to create commercial credits. Funga founder Dr Colin Averill has been studying mycorrhizal fungal networks for over 15 years, and has shown that the reintroduction of wild soil microbial biodiversity can accelerate plant growth by an average of 64%. A handful of soil has well over 100 kilometres of fungal hyphae running through it, which lace through the roots of plants, providing nutrients while drawing down CO2. Funga has just raised $4 million (€3.7 million) in a seed funding round led by Azolla Ventures. The money will be used to develop its software and data sets; to scale up its fungi-focused restoration projects; and bring its form of “high-quality, sustainable” carbon removal to an eager market. The company’s goal is to sequester at least three billion tons of carbon dioxide through rewilding forests by 2050. Funga will measure how much additional carbon dioxide is captured as a result of forest microbiome restoration and will make this available to corporate buyers as part of their carbon removal portfolio.
Fungi can help forests grow and capture carbon dioxide, which could be a viable solution to the carbon dioxide problem. Funga is the first company to use the fungal microbiome to create commercial credits and has just raised $4 million for its projects. Dr Colin Averill has studied mycorrhizal fungal networks for over 15 years and has shown that the reintroduction of wild soil microbial biodiversity can accelerate plant growth by an average of 64%. Fungal hyphae lace through the roots of plants, providing nutrients while drawing down CO2. Funga’s goal is to sequester at least three billion tons of carbon dioxide through rewilding forests by 2050 and will measure how much additional carbon dioxide is captured as a result of forest microbiome restoration. This carbon dioxide can then be made available to corporate buyers as part of their carbon removal portfolio. This could be a way to help reduce global warming and restore essential microbial biodiversity to our soils.
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