GHG Emissions  -  November 3, 2021

Piva Capital Commits to Offsetting Past and Future Emissions

Piva Capital announced Oct. 29 that it is committed to offsetting its emissions starting from its launch in 2019 through the end of 2020 and each year going forward in order to become carbon neutral.

The VC firm will purchase high-quality offsets averaging $200 per ton of carbon from offsetting organizations like Future Forest, Charm Industrial, RunningTide and Recoolit. The number of offsets to purchase was determined by an analysis of its travel and office energy use.

"Sadly, the vast majority of carbon offsets available today do not fulfill the impact they claim to make – avoiding or permanently removing one ton of carbon," Piva Investor Julia Reichelstein said in a statement. "It's not easy for organizations to figure out which carbon offsets to purchase. Our goal is to be a helpful resource to other firms as they strive to buy quality offsets with real climate impact. We also hope our transparency helps ignite a movement where every corporate buyer is pushed to disclose what offsets they're buying, encouraging them to pay up for quality."

Part of Piva's business model centers around an Environmental, Social, and Governance (ESG) framework and the firm has invested in 12 companies pioneering in sustainability within agriculture, manufacturing, chemicals, transportation and energy sectors.