what we do

We fund sustainable projects by rewarding consumers with Floras

We bring together corporations and consumers to bring environmental change. We help companies offset the carbon footprint of their products, services and activities. Consumers can select sustainable projects they want to support through their purchases.

We make it easy for your customers

Our platform allows companies to connect with eco-conscious consumers who want to make a difference through their purchases. By partnering with Floras, you can offset the carbon footprint of your products, services, and activities while promoting sustainability to your customers.
As the corporate market for voluntary offset grows to $20 billion by 2030, partnering with Floras becomes an even more strategic way to show your commitment to sustainability. Join us today and start driving positive environmental change. Contact us to learn more.
Leveraging points liability

At Floras, we believe in the power of loyalty to create a positive impact on the environment. Our platform helps corporates and brands leverage their consumer loyalty currency redemption to reduce or remove carbon credit spend from the P&L, without impacting your Net Zero objectives.
With Floras, you can turn your loyalty program into a powerful tool for sustainability.

Unredeemed loyalty points and miles are a big liability in the
balance sheet.

Corportes currently take carbon credit purchases as a charge or cost line to the P&L.



Loyalty members will be allowed to exchange those unredeemed points and miles for Floras to help fundsustainable projects


Corporates will reduce Balance Sheet points liability and at the same time receive carbon credits towards NetZero commitments.

How do we do it?

We connect loyalty
with Sustainable Projects

At Floras, we believe that sustainability should be rewarding for everyone involved. That's why we've created a platform that connects corporate loyalty programs with accredited carbon offset and removal projects.

Floras Currency

Reward consumers purchasing behavior with Floras currency. Also allow consumers to exchange other loyalty currencies for floras

Support Projects

Floras can only be redeemed for accredited carbon offset and removal projects. Funds are directed to the projects

Carbon Credits

For every Flora redeemed, corporates receive carbon credits towards Net Zero commitments.

What is Floras?

Floras offers a unique solution for both consumers and brands, providing a way for consumers to make
a real contribution to fighting climate change while building brand trust and visibility.

For consumers

Floras provides a highly visible brand they can trust, with a gold standard certification and independent annual reporting.

Consumers can participate in offset projects by choosing where to put their loyalty funds and feel good about making a positive impact on the environment.

Floras also offers a bundle of offset projects to choose from, giving consumers a wide range of options to support.


Floras makes it simple.

Floras also offers management tools such as verification for offset projects, reporting & monitoring, and independent verification. This means that there’s no need for expensive offset teams or complicated processes. Floras streamlines the carbon offset process for brands, allowing them to focus on their core business while contributing to the fight against climate change.

For brands

Floras provides a full-stack solution for leveraging carbon offset and Net Zero commitments.

Marketing tools like the Floras Points engine, Floras Points issue, and Floras Points exchange, as well as the Floras Loyalty platform and brand, allow brands to easily implement Floras into their existing loyalty programs.

The configurable App & Website make it easy for brands to integrate Floras into their digital presence.

Traceability and user flow

Step 1

Step 1

Consumer earns Floras through purchases, loyalty program exchange or promotion
Step 2

Step 2

Floras Rewards are issued
Step 3

Step 3

Floras are deposited into the wallet
Step 4

Step 4

Consumer choose a sustainable project to support
Step 5

Step 5

Funds are transferred to the selected project
Step 6

Step 6

Carbon credits are issued to the partner brand

Everyone wins:

Sustainable Projects

Leeds Carbon Mineralization

The Leeds project operated by O.C.O Technology Limited is a key component of their carbon capture and utilization initiatives, focusing on the production of carbonated building materials for sustainable construction applications. Located at Hub 45, 37 Knowsthorpe Gate, Leeds, UK LS9 0NP, the Leeds facility plays a pivotal role in converting CO₂ emissions into solid building materials through accelerated carbonation technology. At the Leeds facility, CO₂ is used to treat various waste materials via Accelerated Carbonation Technology (ACT). This process involves reacting CO₂ with alkali earth hydroxides and silicates to produce lightweight carbonated aggregate suitable for construction purposes. The aggregate meets EN13242 and EN13055 requirements, ensuring high-quality and environmentally friendly construction materials. The manufacturing process at the Leeds project includes blending different thermal residues, conditioning them with water, and exposing them to an elevated concentration of CO₂ to accelerate the carbonation process. This results in the production of carbonated aggregate with a verified carbon content of 144 kg of CO₂ per tonne of aggregate product. Compliance assessments, permits, and verification activities are conducted in alignment with the Puro Standard General Rules and Carbonated Building Material Methodology to uphold environmental standards. The Leeds project exemplifies O.C.O Technology Limited's dedication to sustainable carbon removal practices and innovative solutions for carbon capture and utilization. By converting CO₂ emissions into valuable building materials, the Leeds facility contributes to reducing carbon footprints in the construction industry and advancing the transition towards a more sustainable and environmentally conscious future.

Brandon Carbon Mineralization

The Brandon project operated by O.C.O Technology Limited focuses on the production of carbonated building materials for carbon capture and utilization. Situated at High Street, Brandon, Suffolk, UK IP27 0AX, the Brandon facility plays a significant role in the innovative process of converting CO₂ emissions into solid building materials. Through accelerated carbonation, CO₂ is reacted with alkali earth hydroxides and silicates to produce carbonated aggregate from waste materials. The manufacturing process at the Brandon facility involves blending different thermal residues, conditioning them with water, and exposing them to an elevated concentration of CO₂ to accelerate the carbonation process. This results in the production of carbonated aggregate with a verified carbon content of 144 kg of CO₂ per tonne of aggregate product. Compliance assessments, necessary permits, and verification activities ensure adherence to the Puro Standard General Rules and Carbonated Building Material Methodology. The Brandon project, like other O.C.O Technology Limited initiatives, exemplifies the company's commitment to sustainable carbon removal through innovative carbon capture and utilization techniques. By converting CO₂ emissions into valuable building materials, the Brandon facility contributes to global efforts in mitigating climate change and promoting environmental sustainability.

Bangladesh Horticultural Agroforestry

The project developer, Varaha, is an end-to-end project developer that specializes in nature-based solutions, including regenerative agriculture, ARR (afforestation, reforestation, and revegetation), and biochar projects that promote climate adaptation, biodiversity, water conservation, and increased income for smallholder land stewards. In their second year of operation, Varaha's first five projects are removing and avoiding over 1 million tons of CO₂ emissions while distributing the majority of revenues to more than 100,000 smallholder land stewards across Southeast Asia and Sub-Saharan Africa. Their cutting-edge MRV technology, which includes a bio-geo-chemical model for soil carbon, remote sensing, and machine learning, ensures high quality and verifiable project success. Varaha's team has a proven track record of scaling projects and products to millions of smallholder land stewards and is backed by leading global investors who share their vision for sustainable, nature-based solutions. At the heart of Varaha's operations is their climate tech platform, which offers a range of features. Equipped with remote sensing, carbon modelling, and a proprietary Carbon Quantification Tool (CQT), the platform enables cost-effective and precise enrollment of partners, quantification of greenhouse gas emissions, measurement, reporting, and verification of projects and carbon credits at scale. They prioritize efficiency and transparency throughout the carbon credit creation process, ensuring accurate and reliable results. In addition, Varaha empowers organizations to achieve their net-zero goals by granting them access to high-quality carbon credits. They curate a selection of rigorously vetted nature-based projects, allowing clients to choose credits that align with their sustainability objectives. By adopting cutting-edge technology and maintaining rigorous standards, Varaha ensures the longevity and reliability of investments in carbon credits. The project is a large-scale grouped project activity that promotes the planting of fruit-bearing trees on marginal lands owned and managed by smallholder farmers. The project is located in Bangladesh, with its first instance in the districts of Chapainawabganj, Nogaon, and Rajshahi. The main aim of the project is to remove atmospheric carbon through the development of horticultural agroforestry systems on marginal lands, with the additional benefits of delivering agricultural products and ecosystem services to the local community in order to enhance their social well-being. Prior to the implementation of the project, the farmlands were either barren or left unmanaged by the farmers due to degradation and other factors. The project activities include distribution of saplings and providing technical support during plantation activities, plantation management, livelihood generation, and post-plantation guidance. The project proponent is working with the local implementation partners to implement and monitor the project activities on ground. The project will deliver carbon removal through the growth of newly planted trees on this land, where both above- and below-ground biomass carbon pools are quantified. Soil organic carbon is also modeled since the agroforestry plots substantially benefit soil fertility and nutrient holding capacity. The current project not only focuses on generating additional income through carbon credits, but also brings several co-benefits that contribute to sustainability. These co-benefits include: Water stewardship: Planting native trees on degraded lands aids water stewardship by helping to regulate water cycles. Trees help to maintain groundwater levels, reduce surface runoff, and enhance water filtration. This helps reduce water waste and optimize water usage in the project land area. Ecosystem protection: The project promotes the planting of native fruit-bearing trees that provide additional ecosystem services such as preventing soil erosion and degradation, regulating water cycles (e.g., reducing surface runoff and enhancing water infiltration), and creating new habitats for various plant and animal species, helping to increase biodiversity. Social equity and justice: The project works exclusively with smallholder farmers in rural communities in Bangladesh. By providing these farmers with education and training, carbon payments, and tree saplings, the project promotes productive use of marginal lands and improved livelihoods for vulnerable farmers, including women and other marginalized groups. This, in turn, helps to create a more inclusive and sustainable farming system that benefits smallholder farmers and fosters community resilience, economic stability, and well-being. Biodiversity Conservation: By adopting agroforestry practices and restoring ecosystems, the project contributes to the conservation of biodiversity. Planting trees and restoring natural habitats provide a conducive environment for diverse flora and fauna, helping to protect and enhance biodiversity in the project area. These co-benefits highlight the holistic approach of the project, which goes beyond carbon sequestration and actively promotes sustainability, community development, and environmental protection. By addressing multiple aspects of sustainability, the project aims to create long-term positive impacts on both the local communities and the natural environment. Overall, Varaha ClimateAg is committed to driving positive change by promoting sustainable practices, supporting smallholder communities, and helping organizations achieve their carbon reduction goals. Through their comprehensive suite of offerings, they aim to create a more sustainable and carbon-neutral future for all.

China Qianxinan Afforestation

The Qianxinan afforestation project in Guizhou Province is located in Xingren City, Xingyi City, Ceheng County, Zhenfeng County, and Qinglong County, Guizhou Province, China. The project is to establish forest on the barren land to generate greenhouse gas (GHG) emission reductions and contribute to local sustainable development. The project is joint-implemented by the Forestry Bureaus of Xingren City, Xingyi City, Ceheng County, Zhenfeng County, and Qinglong County. 32,047 hectares of forest was established by directly planting on degraded lands in five cities and counties. Xingren City, Xingyi City, Ceheng County, Zhenfeng County, and Qinglong County belong to Qianxinan Buyi and Miao Autonomous Prefecture, Guizhou Province. The project activity aims to:Sequester GHG and mitigate climate changeEnhance biodiversity conservation by increasing the connectivity of forestsImprove soil and water conservation in the Karst regionGenerate income and job opportunities for local communitiesThere was no natural renewal and reforestation before the project, and all sites were barren. The main objective species is cypress, which is native according to the baseline survey. The implementation of the project would reduce the GHG emissions by 9,393,374 tonnes of CO₂e in 20 years, with an average annual GHG emission of 469,669 tonnes of CO₂e.

Nigeria Improved Cookstoves

This project enables access to the highly fuel-efficient charcoal stoves (BURN Jikokoa) in Nigeria, improving health in households and reducing deforestation and emissions. Its impact on eight sustainable development goals (SDGs) has been verified by Gold Standard. The use of open fires and solid fuels for cooking is one of the world’s most pressing health and environmental problems, directly impacting close to half the world’s population and causing 132,000 premature deaths in Nigeria each year. The cooking sector accounts for 2% of annual global carbon emissions estimates. Today, 83% of Nigerians lack access to clean cooking, with 31% of the population living on less than $2.15 a day. This project allows clean and efficient cookstoves to be distributed at a subsidized price, enabling access to Nigerian families who otherwise could not afford them. The stoves result in a ~85% reduction in indoor air pollution and ~60% reduction in fuel consumption, meaning improved health outcomes, reduced deforestation, $6 per week in savings per family, and cooking time saved. The project is operated by BURN, the largest cookstove company in Africa. Since 2013, BURN stoves have impacted over 20 million lives, and BURN operates the only modern cookstove manufacturing facility in Nigeria. BURN won the Environmental Finance "Best Project Developer, Energy Efficiency 2023" award. BURN's impact has been independently verified by Giving Green, University of Pennsylvania (Wharton), University of Chicago, and Yunus Social Business. The project is sole-financed by Key Carbon, a Canadian entity with a mission to unlock climate action.

S&J Taylor Improved Forest Management

Rooted in principles of conservation and stewardship, NativState presents small landowners with an opportunity to realize the full carbon potential of their forests. Their Improved Forest Management plans reward sustainable land practices. When a property is enrolled in a NativState forest carbon program, it helps conserve critical wildlife habitat and forge a legacy for the land as part of a global effort to turn the tide on our world’s many climate challenges. The S&J Taylor Forest Carbon Project balances conservation of nearly 18,000 forested acres of both Saline River bottomland riparian hardwoods and “working” pines in the heart of timber country in south-central Arkansas. Diverse oak, gum, cypress, hickory, and pine forests located within the Gulf Coastal Plain ecoregion represent important habitat and provide essential buffers that abate sedimentation and nutrient runoff between development and waterways. By committing to maintain forest CO₂e stocks through certified sustainable management, the project will provide significant climate benefits through carbon sequestration and important co-benefits to the Ouachita watershed, local communities, and improved water resources to downstream neighbors throughout the Gulf Coastal Plain Region. In the S&J Taylor Forest Carbon Project, large tracts of riparian bottomland hardwoods surround the pristine waters of the Upper Saline River and are essential buffers from runoff to the river and to the habitat of the endemic freshwater Arkansas fatmucket mussels.

France Biobased Construction Panels

Manufacture Bois Paille produces straw-insulated wood-frame panels using the innovative technology developed and patented by their partner, Activ Home®. These panels enable swift and environmentally-friendly construction practices. These panels not only comply with the demands of new energy regulations, but also remain competitive when compared to conventional materials that contribute to pollution. Overall, the use of straw and the development of prefabricated wood-frame panels can help create healthy, sustainable buildings that meet modern energy requirements while ensuring a cleaner and more efficient construction process. Better construction and better use of buildings in the European Union (EU) would reduce final energy consumption by 42%, greenhouse gas (GHG) emissions by 35%, and all extracted materials by more than 50%. Notably, in 2019, the construction and operation of buildings were responsible for 38% of global energy-related CO₂ emissions. However, due to the pandemic and global efforts to decarbonize the sector, emissions experienced a 10% decrease. The adoption of biobased materials in construction presents a compelling solution to diminish the carbon footprint of the building sector. These materials not only involve fewer pollutant components but also require significantly lower energy inputs during the manufacturing process compared to materials such as concrete, gypsum, or steel. Furthermore, their implementation facilitates the long-term storage of atmospheric CO₂. Straw, as a bio-sourced material, holds great potential as a locally abundant resource, boasting exceptional thermal and environmental qualities. By combining wood with straw, it becomes possible to construct buildings that are both sustainable and conducive to well-being, offering optimal insulation and comfort.  Validation audit and annual verification through a independent third-party auditor accredited by Association Bilan Carbone®.

Sweden Electronic Devices Refurbishment

GIAB's mission is to give products a new life through product circularity principles. This way, the company maximizes products' value by reconditioning IT devices including laptops, MacBooks, iMacs, screens, iPads, and smartphones. This brings value to second-hand products that would otherwise be considered waste, enabling optimization and prolonging IT devices' useful life. GIAB operates in two business areas:Circular Insurance: This is a service offered to the Scandinavian insurance industry. Damaged products are sent to GIAB in order for them to be verified and repaired as needed. This business is divided into two branches: (a) Circular laptops, which are fixed in house at GIAB's facility, and (b) Circular mobile phones, which are mostly fixed by GIAB's partners in Dublin, Malmo, and Slovenia. Repaired products either return to the policyholder or are sold into GIAB's sales channels to a new user through a standardized digital process. Non-repairable products have their pieces saved to be used as spare parts.Re:commerce: Through return logistics management and after-market service, GIAB works to extend the useful life of products by fixing them. Contrary to the Circular-type business, Re:commerce works with other types of companies that are not insurance companies.User electronic devices constitute about 2% of global greenhouse gas (GHG) emissions and are one of the fastest growing sectors in emissions. In addition to climate change impacts, new devices also require mining rare minerals and materials, which creates a rapidly growing stream of hazardous waste. In an increasingly digitized world, the use of these devices (such as smartphones, laptops, and tablets) is only expected to increase. Most of the environmental impacts of small electronic devices come from their manufacturing. That means increasing the lifetime of devices is a significant lever to reduce GHG emissions in this sector, since fewer new devices are produced. One method for increasing device lifetime is device repair and reconditioning. Validation audit and annual verification conducted by Verifiavia, independent accredited auditor (ISO 14065).

France Battery Regeneration

Be Energy regenerates batteries, oils, and motors, doubling their life span and fighting against the programmed obsolescence of certain critical materials with a high CO₂ impact. In addition, their regeneration solutions, when possible, drastically reduce the carbon emissions of end-of-life objects, giving a second life to this hazardous industrial waste. Lead–acid batteries are widely used in many sectors, including the automotive industry, energy storage systems, life support systems, and emergency systems. These batteries have a significant environmental impact due to the presence of lead, which can cause damage to human health and the environment if not handled properly. Developing the ability to regenerate lead-acid batteries would make it possible to extend their life and reduce their environmental impact by avoiding the production of new batteries and by recycling the raw materials contained in used ones. Ultimately, the development of this sector could also create new economic opportunities and new jobs in the fields of regenerating and recycling lead batteries. Europe alone will need to recycle 700,000 tonnes of lead–acid batteries per year. These complex objects represent an assembly of dangerous products, but also a tremendous source of reusable resources — as long as the means exist to make use of them through efficient recycling. Be Energy's approach is to create new jobs in a virtuous circular economy. The 2,286 carbon contribution credits are being issued to enable the deployment of new partnerships to develop large-scale local regeneration. Validation audit and annual verification through a independent third-party auditor accredited by Association Bilan Carbone®.

Macaúbas Landfill Gas Capture

Macaúbas Landfill Gas Project is a landfill gas (LFG) collection, use, and flare project in Brazil. The project’s core idea is to avoid emissions of methane gas to the atmosphere from the Central de Tratamento de Resíduos Macaúbas (CTR Macaúbas) landfill located in the municipality of Sabará in the state of Minas Gerais, Brazil. The project activity comprises the installation of a new active LFG extraction, flaring, and electricity generation systems.

Keo Seima Wildlife Sanctuary REDD+

Nestled in the lush jungles of eastern Cambodia, the Keo Seima Wildlife Sanctuary (KSWS) is a haven for biodiversity and a vast storehouse of forest carbon. Spanning over 290,000 hectares, the protected area is home to a diverse array of wildlife, including 84 globally threatened species and the world's largest population of black-shanked douc and yellow-cheeked crested gibbon. The KSWS also holds a unique cultural significance for the Indigenous Bunong people, who have called this forest home for centuries and whose culture and livelihoods are deeply entwined with the forest. Despite the importance of this area, it faces a high threat of deforestation due to various factors, including forest conversion for agriculture and illegal logging. The Keo Seima Wildlife Sanctuary REDD+ Project (KSWS REDD+), launched in 2010 as a collaboration between the Royal Government of Cambodia (RGC) and the Wildlife Conservation Society (WCS), has made impressive strides in reducing deforestation and promoting alternative livelihoods. The project has prevented the release of more than 20 million tonnes of CO2e emissions and saved 25,000 hectares of forest from destruction. It has also created jobs, supported education and training initiatives, and established an ecotourism venture that supports local communities. The project has also distributed nearly $1 million through its Cash for Communities (C4C) program, a mechanism that shares the revenue of carbon credit sales. These funds go directly to local communities, who decide how they should be spent to support sustainable development activities such as healthcare, education, and infrastructure like wells and bridges.

France Biobased Construction Materials

Vestack designs and builds low-carbon buildings from wood-frame walls and floor panels based on two innovations: architectural design software and an industrialized construction system. The approaches are implementing low-carbon construction models and replacing concrete for non load-bearing walls and floors. Biobased materials for construction are an excellent option to reduce the carbon footprint of the building sector as they use fewer pollutant materials and low amounts of energy to manufacture (compared to, for example, concrete, gypsum, or steel). Furthermore, it helps store atmospheric CO₂ for considerable periods of time. Better construction and use of buildings in the EU would reduce 42% of our final energy consumption, about 35% of our greenhouse gas emissions, and more than 50% of all extracted materials. In 2019, the construction and operation of buildings were responsible for 38% of global energy-related CO₂ emissions. However, the emissions decreased by 10% due to the pandemic and the efforts worldwide to decarbonize the sector. Vestack aims to produce various types of buildings over the following years. Based on their environmental performance, their activity could remove 194 kg CO₂ eq/m2 based on their standard building construction done in 2022. Project audited, validated and verified by Verifavia, auditor accredited ISO 14065.

France Biobased Concrete

Adopting biobased materials in construction presents a compelling solution to diminish the carbon footprint of the building sector. These materials not only involve fewer pollutant components but also require significantly lower energy inputs during the manufacturing process compared to ordinary solutions. Furthermore, their implementation facilitates the long-term storage of atmospheric CO2. Enhancing the sustainability of buildings is pivotal in achieving the EU's climate change mitigation goals, and the EU's renovation wave is poised to be a central driver in the substantial enhancement of Europe's current building stock. Vieille Matériaux produces hemp concrete blocks — also called "hempcrete" (Biosys®) — and hemp insulation (Multichanvre®) for the building construction sector. These are two hemp concrete blocks with a similar composition (designed by Vicat, and now produced and sold entirely by Vieille Matériaux): (a) Biosys, used for construction (with reinforced concrete reinforcement for load-bearing capacity), and (b) Multichanvre, used for insulation. Using locally supplied hemp and natural quick-setting cement, Vieille Matériaux boosts the thermal, energy consumption, and environmental quality of conventional construction materials. Buildings contribute to 21% of global greenhouse gas emissions (GHGs), primarily from operational and embodied emissions. Embodied emissions, which make up 5-12% of national GHGs in European countries, result from energy-intensive production of common building materials like cement and steel. Biobased materials offer a more sustainable alternative with lower GHG emissions due to their carbon-neutral or carbon-negative composition and less energy-intensive manufacturing. Vieille Matériaux first sold its hempcrete blocks in July 2016. In 2022, it produced 9,296 m² of Biosys® and 9,780 m² of Multichanvre®. During the 5-year crediting period, the project is expected to avoid 900 tonnes of CO2eq and remove 4,391 tonnes of CO2eq. This project was audited and validated by Verifavia (accredited 14065) in November 2023 with the present document and attached files listed in the Appendix. Regulatory additionality: Several regulations relate to or promote biobased construction, but none mandate it. The European Union’s (EU) Energy Performance of Buildings Directive (EPBD) and the Circular Economy Action Plan promote the use of biobased materials. The market prices for competing products show that selling at higher prices is infeasible. That means the production price of Biosys and Multichanvre is far more than the current market and current selling price, where only 0.052 and 0.056 carbon credits will be generated for each m² of hempcrete blocks Biosys and Multichanvre insulation produced respectively. The carbon credits issued for this project are avoidance and removal types, considering the 100-year lifespan of Biosys® and Multichanvre®. The biogenic carbon content is therefore guaranteed to be sequestered for a minimum of 100 years, calculated as the expected service lifetime declared in the product's FDES.

Bangladesh Titas Gas Capture

The proposed Clean Development Mechanism (CDM) project aims to reduce gas leakages from components in the natural gas distribution system in Greater Dhaka and its adjacent areas in the People’s Republic of Bangladesh, a Least Developed Country. The length of the natural gas distribution system operated by Titas is 12,253.22 km. Construction began on the distribution system in the mid-1960s and over the years the system has not been adequately maintained. As a result, a significant percentage of the natural gas throughput (predominately methane (CH₄)) leaks from components in the system and is released into the atmosphere contributing to global warming. The project will lead to reductions of methane, a potent greenhouse gas (GHG). Note: This 2020 vintage represents mitigation activities that occurred between 09/2019 to 12/2020.

Spain Soria Biochar

Terrawatt has more than 15 years' experience in biomass waste usage in the methanization and pyrolysis sector. Backed by the European Union with €2 million in subsidies, Terrawatt has been working on an innovative prototype pyrolysis and methanization solution to maximize the value of biomass waste. The company is now deploying their first industrial installation in Spain due to the high quantity of biomass waste available. Biochar is a carbon-rich solid material produced through pyrolysis, which involves heating biomass in the absence of oxygen. It is a stable form of charcoal that retains the carbon content from the original biomass and can sequester it for hundreds to thousands of years. When made from waste biomass, biochar is a powerful tool to harness organic carbon that may have otherwise been degraded and emitted to the atmosphere and instead store it in soils as a carbon sink. Pyrolysis also generates co-products (syngas and bio oil) which can be used and upgraded in many different ways to replace products such as fossil fuel-based heat and electricity. The Carbonfields biochar production site in Langa Duero, Soria province, Spain, will use vine shoots and pruning, an agricultural byproduct in the Ribera del Duero DO, as the main input for pyrolysis. Syngas is directly combusted and high-quality biochar is produced. This biochar will be applied to local agricultural fields. The Carbonfields site is under production and is expected to start construction in 2024 and start operations in 2025. The impact is based on expected annual production of 1,782 tonnes of biochar. Over the 5-year crediting period, the site is expected to be issued 22,177 carbon removal credits. This project was audited and validated by Finexfi (accredited ISO 17029 and under Riverse VVB guidance) in September 2023 with the present document and attached files listed in Appendix of the Detailed Project Description. A monitoring plan has been defined the verify the credits every year from 2025 to 2029.Notes on additionality and permanenceRegulatory additionality There are several European regulations that cover waste treatment and promote circularity, which relate to the project’s use of agricultural waste as a feedstock input. These include the EU’s Renewable Energy Directive (RED II), the Waste Framework Directive, and the Circular Economy Action Plan. However, none of these regulations require the use of orchard prunings for biochar production. This project’s activities are not mandated by regulation, and would not have necessarily occurred in the absence of Carbonfields due to regulation. Financial additionality The project seeks pre-financing from the sale of carbon credits to make the development of the site possible. With total expected investments of €10.7 million (in two steps, detailed in the following paragraph), upfront funding is crucial to the project’s feasibility. The analysis of the project’s business plan with sales of carbon credits and without demonstrates how critical this source of revenue is. Revenue from carbon credits is expected to make up 79% of the project's annual revenue over the next 15 years, if the project only produces biochar (with the remaining revenue coming mostly from the sale of biochar). However, the project plans on upgrading their machinery after 2-3 years of operations to be able to transform syngas into liquid biomethane and liquid CO2, which are valuable additional products. In that case, revenue from carbon credits would make up 23% of annual revenue. However, this upgrade will cost almost 4x that of the initial installation of the pyrolysis setup, and carbon credits are still critical to overcome this investment cost. With the sale of carbon credits, the project is expected to see a positive cumulative cash flow in year 7. Without carbon credits, this would occur in year 10. With the sale of carbon credits, the project is expected to have an internal rate of return of -23.5% over the 5-year crediting period, and 14% over 10 years. Without carbon credits, this would be -43% over 5 years, and 0.03% over 10 years. Permanence The project is eligible for removal credits thanks to carbon sequestration from biochar application to soil. The sequestration horizon is 100+ years, representing long-term carbon storage. The permanence of carbon sequestration is ensured by measuring characteristics of produced biochar that are known indicators of carbon stability: organic carbon and hydrogen content. These must be measured in laboratory chemical analyses. Following models proposed by Woolf et al (2021), these indicators are used to calculate carbon permanence and are combined with soil temperature to calculate the amount of carbon stored in the soil after 100 years. Because these indicators are so critical to calculating removal credits, they are KIIs and must be measured, reported and verified each year during the crediting period. Additionally, the project has submitted its sampling protocol, which has been validated by the Riverse team according to the Riverse Biochar sector-specific guidelines. According to the project’s estimates of biochar characteristics, it will have a permanence factor of 0.94 over 100 years. In the verification stage, the project will provide results of laboratory analyses of its biochar characteristics, and this criteria will be updated.

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