LOI for Investment Vehicle Announced to Develop Innovative Carbon Renewal Projects

By: Tomas Ronolski - AllPennyStocks.com News

Monday, December 18, 2023

Carbon renewal is integral as firms try to reduce greenhouse gas emissions. This collaboration aims to bring global market participants an innovative way to access and participate in the surging demand for high-quality carbon removals associated with the “net-zero” climate commitments from corporations, financial institutions, and governments.

Financier of emission reduction, removal, and related climate action projects, Base Carbon Inc. (OTCQX: BCBNF) and STX Group, a leading environmental markets and climate solutions firm, announced the execution of a Letter of Intent to jointly launch a new investment vehicle to develop innovative carbon removal projects. The new vehicle will focus on bringing integrity and scale to global markets seeking durable, high-quality carbon removals based on scientific pathways and asset-backed solutions.

Driven by buyer demand, the vehicle’s primary investment focus will emphasize capital allocation to greenfield carbon solutions that include robust quantification, scientific durability, strong community engagement, sustainable development co-benefits, and governance practices in accordance with leading industry standards, local regulation, and the UNFCCC Paris Agreement.

Shares of Base Carbon ended Friday trade at $0.3363

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