ClimateTrade, a blockchain-based climate solutions provider, has acquired climate neutrality company TeamClimate to expand its global reach and enhance its product portfolio, with a focus on reaching consumers in the United States. The purchase price was not disclosed.
ClimateTrade said it created a marketplace in which companies can offset their carbon footprint. With the integration of TeamClimate, ClimateTrade plans to offer subscription-based carbon offsetting directly to consumers.
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The subscription service enables travelers to easily add, remove or adjust their personal flights, giving them complete control over the offsetting process, according to ClimateTrade.
“By offsetting exactly what you are emitting,” ClimateTrade said, “you can feel confident that you are doing your part to mitigate the impact of your travel on the environment and contributing to a more sustainable future for all.”
This latest acquisition represents another step in ClimateTrade’s international expansion, according to the company. Launched in Spain in 2018, ClimateTrade last year opened its U.S. headquarters in Miami and acquired E-Verde, a software-as-a-service provider specialized in carbon footprint calculation.
TeamClimate’s “dedication to making climate action both seamless and impactful for individuals and companies alike was clear to us from day one,” ClimateTrade CEO Francisco Benedito said. “This acquisition will enable both ClimateTrade and TeamClimate to make a more consequential and positive impact on the fight against climate change.”
Austria-based TeamClimate, founded in 2015, currently offers carbon offsetting subscriptions primarily in German-speaking parts of Europe. Subscribers can measure, reduce and offset their carbon footprint by supporting verified projects, including one protecting 440 square meters of rainforest in Brazil. Offsetting contributions are not donations, but rather the purchase of emission reduction certificates from climate protection projects. The purchase of these certificates reduces more than the amount of CO2 emitted by the flight, according to TeamClimate.
TeamClimate also features a flight offsetting platform called “mindfulflights,” which ClimateTrade called “a powerful tool that allows you to calculate the carbon emissions generated by your flight.”
“When we started TeamClimate as a school project, we set out to enable people and companies to have a lasting, positive impact by reducing and offsetting their carbon emissions,” said TeamClimate founder and CEO Christophe Reberig. “With ClimateTrade, we’ll be better able to grow our impact and build the best solutions for our customers, multiplying the difference we can make in our world.”
Carbon neutral products certified by TeamClimate can be found in thousands of supermarkets and outlets in Germany and Austria, according to the company.