The Pelorus Foundation launches new carbon offset project
The Pelorus Foundation has launched the Climate Investment Fund to enable Pelorus guests to offset their emissions during yachting expeditions. The company also announced the appointment of Justine Williams as head of the foundation.
The Climate Investment Fund is an investment portfolio made up of nature and technology-based solutions to remove carbon from the atmosphere. The scheme aims to create partnerships with projects currently tackling climate change, such as investing in carbon removal technologies and supporting communities affected by the climate crisis.
Geordie Mackay Lewis, co-founder, of Pelorus, said: “Our Climate Investment Fund is proud to support carbon removal projects, pioneering-technology-based solutions as well as nature-based solutions, that place the local population at the heart of projects.”
So, how does it work? Pelorus’ travel designers firstly calculate the emissions of a client’s journey by following the Greenhouse Gas Protocol – a global standardised framework to measure and manage greenhouse gas emissions. The Pelorus team then advise clients on how to reduce emissions through carbon offsetting schemes.
Clients will then have an opportunity to invest credits in the fund. To determine the number of credits needed to recompense clients’ trips, Pelorus has partnered with Greenly, a carbon accounting and management platform.
“The immense restorative power of nature itself is one of the most cost-effective ways to tackle climate change,” said Mackay Lewis. “Yet, there is also an urgent need to invest in novel technology that is pioneering the new methods needed to reverse climate change.”
Two of the schemes incorporated in the portfolio are Plan Vivo’s Standard certified projects. The first, ‘Halo Verde’, works with Timorese farmers on agroforestry, land restoration and sustainable agricultural practices in Southeast Asia. The second, ‘Pastures, Conservation, Climate Action’, helps to restore degraded grasslands in rural Mongolia.
Another company partnering with the travel experience specialists is Running Tide, a blue carbon company that grows biomass and returns the carbon to the deep ocean. Founded by fishermen, Running Tide started by reinventing regenerative aquaculture and ecosystem restoration in Maine, US.
“Whilst we recognise that our Climate Investment Fund will not end climate change, it is a measure we take to reduce our impact on the environment and ensure travel is a force of good,” said Mackay Lewis.
The newly-appointed head of the fund, Justine Williams said: “Working together with our supporters and project partners, I look forward to helping build the Foundation and raising essential funds to support impactful projects.”
Williams brings over three decades of experience from the UK voluntary sector to the foundation. She had previously headed UK and international charities such as Plan International, ActionAid, Practical Action and Garden Organic.
“Our bigger picture goal?” said Williams. “Helping to create a more sustainable world for people and wildlife, whilst conserving and protecting our planet for generations to come.”