Pala Investments offsets 2021 Scope 1, 2 and 3 emissions
Since 2020 Pala has committed to operating as a carbon neutral company. In partnership with Puro.earth, Pala has finalized its carbon offset program for 2021 based on the Puro Standard and has purchased and retired verified CO2 Removal Certificates (CORCs) to offset 54 tonnes of CO2e emissions from its own operations, including Scope 1, 2 and 3.
The Puro Standard is used to issue science-based certificates that only credit complete net removals. Each retired CORC is equivalent to 1 metric ton of CO2 and verifies that this amount of carbon has been removed from the atmosphere.
In partnership with Puro.earth, Pala purchased and retired carbon credits from an Australian biochar project generated by Rainbow Bee Eater to offset 100% of its emissions. Biochar is produced by heating biomass - organic material from agricultural and forestry waste - in a controlled process referred to as pyrolysis. CO2 removal is achieved by the fact that this organic waste, which would have otherwise generated CO2 emissions while decaying, is converted into biochar, effectively holding inert carbon in soils for hundreds to thousands of years. Biochar carbon removals have been recognized as one of the most effective and scalable ways of carbon extraction.
Identifying new opportunities to lower Pala’s environmental footprint is part of our approach and commitment to sustainability. Pala’s additional initiatives to reducing its operating carbon footprint include installing solar PV panels and EV charging stations at its offices and a greater effort to reduce business travel-related emissions (Scope 3) where possible.
About Pala
Pala is an investment company focused on the value chain of raw materials critical to building a sustainable and decarbonized economy for the future. Pala’s team has extensive experience, with a strong track record of successful investments and value creation. We pursue superior risk-adjusted returns through our convictions and by providing financing solutions and strategic support for development, growth, and turnaround situations.
About Puro.earth and Rainbow Bee Eater
Founded in 2018, Puro.earth is the world’s first carbon removal marketplace and exclusively targets net-negative technologies that can remove carbon at an industrial scale and store it for at least 50 years. The organization connects suppliers of net-negativity carbon methodologies with climate-conscious companies that strive to neutralize their CO2 emissions.
Rainbow Bee Eater is an Australian company best known for its ECHO2 technology and the first Puro.earth carbon removal certified biochar producer outside of Europe. Their aim is to become a global leader in carbon sequestration and renewable energy technologies. Rainbow Bee Eater’s ECHO2 process produces hydrogen-rich syngas and high-quality biochar from biomass in a cost-effective way.