Jonathan Horn, founder of Treefera, aims to address this issue using AI to analyze forests and provide reliable data on the amount of carbon they contain. Horn, a former investment banker, was influenced by the 2008 financial crisis and the role of rating agencies in it. He and his co-founder Caroline Grey believe Treefera can help fill the gaps in the current system of carbon credits.
Key takeaways:
- Several large companies, including Disney, Shell, and Gucci, bought carbon credits from Verra that turned out to be worthless, as they were sold for forests not at risk of destruction.
- Characterizing a forest accurately is a difficult and labor-intensive task, which can make the associated carbon credits expensive.
- Despite the scandal with Verra, certification organizations play an important role in verifying carbon credits, but companies should also perform their own due diligence.
- Treefera, founded by Jonathan Horn, aims to use AI to analyze forests and provide reliable data to underpin the value of carbon credits.