📣 This is a big deal. The Article Six Group's partner, HomeBiogas, received funding from Klik for a new carbon project. This is a new type of climate finance, where companies pay carbon taxes by financing projects that reduce emissions. 🏛 What's going on? The Swiss Parliament passed a CO2 law where motor oil importers pay a carbon price in Article 6 carbon credits, instead of in cash. The Klik Foundation acts on behalf of those motor oil importers to fund emissions reductions and hand them in to the government as taxes. 💰 Why is this a big deal for climate finance? The voluntary carbon market is under two billion dollars. But global carbon taxes represent over one trillion dollars. If carbon taxes can in part be paid by carbon credits - as the Klik Foudation is doing in Switzerland with Article 6 credits - it could catalyze trillions of dollars in clean investment. 🏆 Why is this a big deal for the Article Six Group and HomeBiogas? This funding will go straight to developing a high-impact biogas project in Ghana, and demonstrates that Article Six Group and HomeBiogas are at the cutting edge of climate finance. Excellent work Boaz Schweiger, Yamit Naftali, Oshik Efrati, Daniel Lamptey, Daniel Tutu Benefoh, Chris Lyle and Yair Teller. Happy to discuss!
HomeBiogas has received a Letter of Support from the KliK Foundation for our biogas project in Ghana under Article 6 of the Paris Agreement. 📣 The KliK Foundation has also provided funding to develop the project's Mitigation Activity Design Documentation (MADD). Our biogas systems convert waste into energy, reducing reliance on charcoal and wood, improving health and sanitation conditions, and enhancing agricultural productivity. HomeBiogas digesters significantly reduce emissions by capturing methane from manure and converting it into clean energy and biofertilizer, which farmers use as clean energy instead of fuels such as wood and charcoal. The emission reductions achieved from this project will be sold as Internationally Transferrable Mitigation Outcomes (ITMOs). KliK Foundation #HomeBiogas #KliKFoundation #CleanEnergy #SustainableFarming #ClimateAction
Congrats and big achievement.
Thanks for sharing Ely Sandler
Congratulations to all the parties involved in the deal! Thanks for sharing Ely Sandler!
Great to see this Ely Sandler, pioneering stuff!
David Lehrer FYI!
Amazing Ely Sandler !
Leads Strategic Change as CEO or CFO | 5x Founder | Investor & Board Member | Master in Finance (HSG), MPA (Harvard)
3moEli, did Klik pay for a series of future carbon credits and if so at what market price? (Voluntary or Compliance price)? Or did they, as you stipulate in your group, that carbon taxes are used as investment against future mitigation proceeds? Pls explain.