Our inaugural partners, Pachama, Nori, and Charm Industrial, provide high-integrity carbon credits that also have the transformative potential to help achieve a just and sustainable future. To celebrate Earth Day 2021, we spoke with the founders of each company to discuss what motivates them and how their carbon projects work.
Achieving net zero emissions by 2050 - an equal balance between the emissions we produce and the emissions we remove - is still within reach. But doing so will require investing in a wide range of climate solutions that reduce and remove carbon emissions now and in the long term.
We developed the Joro Carbon Portfolio to allow anyone to buy into a blend of evidence-based carbon removal solutions, balanced to achieve net zero emissions by 2050. To select which projects to support, the Joro team conducted months of deep analysis, consulted experts, and reviewed rigorous third party evaluations. The inaugural Portfolio, balanced across forestry, soil, and bio-oil injection, supports meaningful carbon removal at a price of $20 per ton.
The partners we selected, Pachama, Nori, and Charm Industrial, provide high-integrity carbon credits. To celebrate Earth Day 2021, we gathered the founders of all three companies to share their motivations and how their carbon removal solutions work. Watch the full conversation to learn more.
Sanchali Pal founded Joro to empower people to take climate action that matters, starting with how they spend money. Prior to Joro, Sanchali worked on sustainable development in East Africa and South Asia at Dalberg, where she saw firsthand the devastating effects of the climate crisis for vulnerable populations, and at Tesla. Sanchali holds a BA from Princeton and an MBA from Harvard Business School.
Diego Saez-Gil is Co-founder and CEO of Pachama, a company focused on restoring forests to solve climate change. Prior to Pachama, Diego co-founded Bluesmart (acquired by TravelPro) and WeHostels (acquired by StudentUniverse). Diego was awarded MIT 35 Under 35 and was selected High Impact Entrepreneur by Endeavor.
Paul Gambill is Co-founder and CEO of Nori, the world’s only carbon dioxide removal marketplace. In 2015, Paul established the first community dedicated to carbon removal called Carbon Removal Seattle. He brings experience managing mobile and web application projects for clients including Nike, Showtime, Target, and Starbucks, and has shipped over a dozen public apps. He earned his BSE from Arizona State University, and his Masters of Engineering Management from Duke University.
Shaun Meehan is the Co-founder and Chief Scientist at Charm Industrial, a company working to return the atmosphere to 280 PPM CO₂, by converting waste biomass into fast pyrolysis bio-oil. Previously, Shaun was an Electronics Designer at Planet Labs and also held positions at XUV Lasers and Terumo BCT, among other organizations.
Sanchali: Hello friends! We’re bringing you a conversation about carbon offsets, specifically the Joro Carbon Portfolio, and our inaugural partners, Pachama, Nori, and Charm Industrial. To kick us off, I’ll ask each of the founders of these companies to dive a little deeper into the work they do and why they do it. . Welcome Diego! Can you share your personal path to sustainability and tell us more about Pachama’s approach to forestry offsets?
While on a roadtrip in South America, I personally witnessed how much deforestation was happening in the Amazon Rainforest. While there, I realized the power of trees to act as carbon sinks and reverse the impact of GHG emissions. This was the genesis of Pachama. We started to build the company not only to contribute to reforestry but to monitor existing forest projects (via satellite imaging) to ensure transparency and efficiency of offset markets.
Forestry projects can be controversial. Unfortunately, there are instances in which timber companies might have used carbon credits to increase the profitability of their operations when they were actually just planting trees for future timber. There are cases in which forests that were already protected receive current credits. These are cases where purchasing carbon credits do not result in additional carbon sinks, and it’s frustrating.
At Pachama, we bring transparency to the market and highlight projects where consumers can make a meaningful impact through their purchase. For us, reforestry is a solution at the intersection of the climate crisis and the biodiversity crisis and the more transparency we can bring to the carbon offset market, the more likely we can solve both.
Sanchali: Thanks, Diego. When I was initially approaching offsets for the first time, I was curious about forestry, because it's such an amazing resource as part of the natural carbon cycle. Since the realities on the ground are complicated, it’s important to ensure the projects have an impact over time, that's why we are so attracted to Pachama’s model.
Paul, I want to go to you next and give you a chance to talk about your climate spark and your work with soil.
In 2015, I began to question how we can pull carbon out of the air and simultaneously create new value for people. This was my key question because, at the time, it didn’t seem like there were social incentives to increase carbon capture technology. We founded Nori in 2017 to create a marketplace to facilitate carbon removal that benefits people and the planet.
We chose soil as our first project because it’s incredibly affordable and scalable today, right now. We started working with farmers who were sequestering carbon in their soils. Farmers participate in soil sequestration because it improves their land, protects against drought, and improves crop yield. The fact that they sequester carbon while doing so is a positive externality and it’s important that we guarantee our consumers get what they pay for when they purchase offsets.
To do this, we have farmers sign a contract that states they will keep the carbon in the ground for at least 10 years. We have the farmers verify their carbon levels every 3 years and if we discover there has been carbon loss, we “make the buyer whole” by purchasing new carbon removal to guarantee the buyer’s purchase of 10 years of carbon removal. In this way, we focus more on throughput over permanence, but we plan to scale our impact through other methodologies in the future.
Thanks, Paul. This is a good time to mention, all three of our partners have carbon removal as part of their projects, although the timeline for each is different. That leads me to Sean. Sean, tell us about your climate spark and the work you do at Charm Industrial.
When I was 18 I had the benefit of moving to the South Pole for a few years, which is Nier Baseline Observatory, this is where my interest in science began. After returning home, I worked in startups and after a few different roles, a friend of mine asked if I wanted to start something in Climate.
We started Charm Industrial and our initial goal was to create a biomass capture program. In short, we use waste biomass to create bio-oil through a process called “fast pyrolysis”. To do this, you take biomass from a farm and you heat it up in the absence of oxygen and the biomass decomposes into short-change, hydrocarbons and solid char. Through this process, we discovered we could take a machine on the side of the farm and create a dense version of biomass called bio oil through the pyrolysis process.
This new process kicked off an exciting program to get us to the point where we now sell negative emissions based on the sequestration of these carbon rich fluids deep underground. We look at our program as closing the carbon cycle that started about two hundred years ago with oil extraction.
Learn more about Joro’s Carbon Portfolio and how our inaugural partners help make a meaningful impact against emissions.