SAN FRANCISCO--(BUSINESS WIRE)--NCX, a venture-backed climate tech company, announced a 5X increase in participation in its second Natural Capital Exchange cycle. The company rebranded from SilviaTerra earlier this year and connects carbon credit buyers and forest landowners through a data-driven forest carbon marketplace.
The 2021 summer cycle closed in June and was the second of NCX's enrollment cycles. Landowners in 16 states across the US Southeast, Lake States, and Appalachian regions agreed to defer the timber harvest of their forests. 577 American landowners were accepted as participants in this cycle, 61% of whose enrolled properties were under 750 acres in size. NCX’s one-year contract terms and data-driven approach differ from traditional forest carbon projects, enabling greater participation from smaller, family landowners.
The expected climate impact for the NCX summer cycle is approximately 500,000 MTCO2e, the equivalent of removing about 100,000 cars from the road for one year. Participating carbon credit buyers include Microsoft*, Rubicon, Patch, Lune, and Cargill, among others. The organizations take delivery of their carbon credits following the one-year cycle, upon listing in the Verra registry.
“Forests have the potential to create real, measurable, and large-scale climate impact, today,” said Zack Parisa, Co-founder, and CEO of NCX. “There are so many landowners out there that rely on harvesting their trees for income. Using data, economics, and our forestry experience, we’ve developed a way for families to realize value from their forests without cutting them down.”
“Environmental innovation is at the core of Rubicon’s approach to building a more sustainable future, which is why we are so pleased to work with NCX,” said David Rachelson, Chief Sustainability Officer at Rubicon. “NCX has an innovative approach to mitigate carbon in the atmosphere by extending the life of forests through providing an alternative source of livelihood to timber landowners. Rubicon views this work with NCX as a key component of our overall plan to achieve net zero emissions by 2040, in line with Rubicon’s commitment as an early signatory to Amazon’s and Global Optimism’s Climate Pledge.”
“We see the potential for carbon markets to help businesses like Cargill reduce their greenhouse gas emissions while helping landowners and local communities thrive,” said Joe Stone, Leader of Cargill’s Agriculture Supply Chain Division and Corporate Trading Strategy. “We’re proud to work with NCX to source verified carbon credits that are rooted in nature and demonstrate an immediate positive impact on the planet.”
Enrollment for the next NCX cycle is currently open to carbon credit buyers and landowners in all 48 states in the contiguous US and closes on September 8, 2021. To learn more about NCX and the results of the summer cycle, join the July 22, 2021 webinar, “Designing forest carbon markets for massive climate impact.” Interested landowners and carbon credit buyers should connect with an NCX representative to learn more.
About NCX
NCX, previously known as SilviaTerra, is a trusted provider of high-quality forest carbon credits. Using an AI-powered forest Basemap, NCX connects American landowners with net-zero pioneers. Built on a decade of industry-leading precision forestry expertise, NCX takes a data-driven approach to democratizing forest carbon markets. Read more in our recent white paper.
*As part of Microsoft's FY21 Carbon Removal portfolio announced in January 2021.
