Salesforce Launches Carbon Market

Salesforce aims to democratize the process of buying carbon credits. The debut of the new platform is scheduled for next month in netzero.salesforce.combusinesses will be able to buy carbon credits from a trusted partner with third-party verification.

The Net Zero Marketplace will be officially launched in October at FACE 22 conference in San Jose, presenting 90 projects from project developers Climate Impact Partners, Clover, The moon, Pachama, Respira International and south pole. Calyx Global and Silver will provide third-party assessments using independent verification methodologies. The platform is built on top of Salesforce Commerce Cloud, which integrates directly with the Salesforce Net Zero Cloud sustainable development management software application. But even companies that aren’t Salesforce customers can purchase credits through the platform, the company said.

“What we’re trying to do with the marketplace is create something that’s kind of the first of its kind in terms of openness and transparency,” said Patrick Flynn, Salesforce’s senior vice president of sustainability. “Where everyone – individuals, organizations – can take action by supporting carbon projects.”

According to Nina Schoen, director of product management of Net Zero Marketplace, the marketplace will act as an educational platform, a source of inspiration for corporations, marketing for eco-entrepreneurs and a network of cooperation between projects and buyers. Buyers can pay for loans directly on the website, and Salesforce will charge a 1.5 percent transaction fee.

Many critics believe the credits are an easy way out for corporations to claim zero emissions instead of making drastic reforms to their operations and supply chains. Platforms like the new Net Zero Marketplace can further streamline the process for businesses, potentially making it easier for them to delay significant action.

Flynn emphasized that carbon credits should be the last step in the plan to reduce carbon emissions, and said the market will reflect this with information and education for buyers highlighted on the platform.

“I don’t think there’s any point in holding back for fear of bad actors,” he said. “We need to hold bad actors accountable, but rejecting a tool that could be usefully deployed doesn’t seem like the right strategy. Give access and transparency and tools to everyone, and then celebrate those who are using those tools really effectively and train those who need to learn how to use them more effectively.”

[Want to learn more about how climate tech can help us address the climate crisis? Check out VERGE 22 — the climate tech event — taking place Oct. 25-27, San Jose, CA.]

Unlocking carbon credits for this type of ecosystem is a double-edged sword. High-quality loans are already in short supply, and the ease of servicing the market will increase demand from smaller companies that previously lacked the bandwidth to shop on their own. But Salesforce hopes that increased demand will lead to an increased supply of quality projects.

“Like any new market that experiences incredibly rapid growth, I expect there will be a supply-demand mismatch effect over the next few years,” Flynn said. “All this is necessary. All of this is inevitable, and all of this must happen faster. The most important thing is the maturing of the market. [of carbon credits] happening as soon as possible.”

This article first appeared on GreenBiz.com.

https://www.businessgreen.com/news/4056798/salesforce-launch-carbon-credit-marketplace Salesforce Launches Carbon Market

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