Piva Capital Unveils its First Carbon Credit Purchase as it Commits to Bold Carbon Neutral Pledge

Shares Playbook to Help other Firms go Carbon Neutral to Ensure True Climate Impact

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Oct 29, 2021, 09:00 ET

SAN FRANCISCO, Oct. 29, 2021 /PRNewswire/ -- Piva Capital, a VC firm on a mission to back visionary founders and emerging technology companies transforming industry, today announced a bold carbon neutral commitment by offsetting its emissions from its launch in 2019 through the end of 2020, and each year going forward. Piva has gone above and beyond the typical climate pledge by unveiling a transparent playbook on how other funds and businesses can go carbon neutral, in a thoughtful, high-quality way.

Piva broke the mold by developing rigorous quality thresholds and thoughtfully hand-picking each purchase. The offsets they chose are from science-first companies that take innovative approaches to carbon removal and avoidance at scale, including Future Forest, Charm Industrial, RunningTide, and Recoolit, among others. To ensure quality, the firm paid over $200/ton, well above the industry average of $3/ton. In calculating its emissions, the firm analyzed travel and office energy use. Going forward, Piva expects that in a typical year one investor will average 45 tons or $9,376 in offsets per year.


	$/Ton*	% $ Share
Future Forest	$215	14%
NCX	$22	3%
Charm Industrial	$600	31%
Neustark CO2	$462	12%
Running Tide	$269	16%
Carbo Culture	$538	17%
Recoolit	$75	7%
	Avg: $209	100%

*Inclusive of platform fees

"At Piva Capital, we think deeply about how we can effectively, scalably fight climate change by investing directly in companies fueling the decarbonization revolution," said Piva Capital founder, CEO and Managing Partner, Ricardo Angel. "We're leveraging our expertise to walk our talk, going carbon neutral in a bold, high-quality way. We're offsetting our historical and future emissions and inviting others to join us."

"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," said Piva Investor Julia Reichelstein. "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."

Founded in 2019, Piva Capital believes emerging companies need investors who are global, fast-moving, engaged, supportive, and connected. The firm takes a thesis-driven approach that includes using an Environmental, Social, and Governance (ESG) framework to create value, having invested in 12 companies redefining trillion-dollar markets such as agriculture, manufacturing, chemicals, transportation, and energy.

More details on Piva Capital's carbon-neutral journey can be seen on the company's Medium page.

About Piva Capital
Piva Capital is a San Francisco-based venture capital firm investing in visionary entrepreneurs who are solving the world's critical industrial challenges with breakthrough technologies and innovative business models.

To learn more, visit Piva.vc, LinkedIn and Medium

Media Contact:
Mary Magnani
CodePR
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SOURCE Piva Capital