Salesforce launches the first carbon credits marketplace
The first step to reaching net zero is to reduce carbon emissions. In response to this, Salesforce will launch a first-of-its-kind carbon credit solution called Net Zero Marketplace.
San Francisco-based Salesforce is a cloud-based technology company that provides customer relationship management (CRM) services to businesses of all sizes around the world.
The world leader in CRM presented its carbon credits marketplace. It is a trusted platform that makes the process of buying carbon credits simple and transparent.
Such a solution will allow organizations to buy high-quality carbon credits from ecopreneurs to accelerate the race to net zero.
The marketplace platform will also provide everyone with access to project pricing and third-party ratings.
Many carbon credit providers are joining Salesforce as inaugural partners, including:
- Climate Impact Partners,
- Breathe International, and
- Third-party rating companies Calyx Global and Sylvera.
Accelerating the race to net zero
The Voluntary Global Carbon Market (VCM) is poised to grow to $50 billion by 2030. This is driven by companies’ promises to achieve their net zero goals.
Yet organizations may not know how to create a carbon credit portfolio. Some don’t even know where to start because buying carbon credits can be complex. But they want to be sure that the projects producing the credits have a positive impact.
Add to that the fact that carbon credit providers don’t always have the tools to put the credits on the market.
Enter Salesforce Net Zero Marketplace.
The Salesforce carbon credit market is based on the company’s Commerce Cloud technology. It connects buyers and ecopreneurs.
- Ecopreneurs are environmentally conscious entrepreneurs who lead and drive climate action around the world. They offer a catalog of third-party assessed carbon credits and a seamless e-commerce experience to purchase them.
Net Zero Marketplace also offers a Climate Action Center where anyone can learn and engage with the climate issues that matter to them.
Entities seeking to achieve long-term emission reductions can supplement their efforts with carbon credits. This is where Salesforce comes in.
Impact Manager Suzanne DiBianca said:
“Net Zero Marketplace brings together Salesforce’s values, technology, and commitment to ecopreneurs to create a marketplace of trust so organizations can transparently source carbon credits and accelerate climate action.”
Emission reductions and carbon credits
Carbon dioxide has the same impact on the climate, regardless of location and source.
Polluters can buy carbon credits to help offset their direct emissions. Credits come from projects that avoid, reduce or remove CO2 from the air.
Examples of carbon credit projects are forest conservation, tree planting, wind farms, solar cookers or better farming methods.
Although the first step to achieving net zero is to reduce emissions, this alone is not enough. Climate experts believe that this time of climate emergency calls for trying all possible options.
And carbon credits are one of them that can help incentivize more emissions reductions. They put a price on carbon, which has an impact now while other efforts are underway.
Carbon projects are subject to a series of verifications according to global standards. If a project meets these standards, carbon credits can then be issued and sold on the market.
Salesforce Carbon Credits Marketplace for more transparency
Validating and verifying the quality of a carbon credit can take some time; the process can also be difficult.
The Salesforce Carbon Credit Market attempts to address these issues by aggregating and publishing third-party project ratings. And it’s even possible without the need for a paywall.
The transparency of this market helps organizations decide which carbon credits are best for them. The partners identified above help Salesforce bring this transparency to its platform.
For example, Sylvera provides expert assessments to review projects that deliver real climate benefits. And while carbon projects are very useful in the fight against climate change, reliable data is essential to reveal their full potential.
Through Sylvera’s ratings, Net Zero Marketplace users can discover projects that deliver real climate benefits. The platform also offers purchases of carbon credits to any entity, as well as the necessary education and resources.
Any entity can access it and buy carbon credits through it. They will also be able to see project descriptions, United Nations Sustainable Development Goals, and third-party assessments.
Buyers will also be informed of the progress of the project, which will stimulate reinvestment.
At launch, Salesforce’s carbon credit marketplace will feature more than 60 projects in Africa, Australia, Europe, Latin America and the United States.
Salesforce carbon credit journey
There are two main reasons why Salesforce is continuing its carbon credit journey. It sees carbon credits as a way to:
- fund the nature-based solutions and new technologies needed today, and
- set an internal carbon price to further support its efforts to reduce emissions
The tech company bought its first carbon credits in 2017 as part of its climate action strategy.
Last year, it achieved zero net residual emissions across its entire value chain and reached 100% renewable energy for its global operations.
Additionally, Salesforce launched its $100 million Climate Justice and Ecosystem Restoration Fund.
The company will invest another $100 million in carbon dioxide removal (CDR) projects by 2030. And it does so as a member of the First Movers Coalition, alongside Alphabet and Microsoft.
It will continue to reduce its emissions while investing in carbon credits to offset the emissions it cannot yet reduce.
The purchase of carbon credits through Salesforce Net Zero Marketplace in the United States begins in October this year.
The platform will expand to other markets in 2023.