While initiatives such as the Chubb Review have been set up to provide clarity and integrity in carbon credits and pricing locally, Mr Listorti set out to deliver a database which brought more transparency to the sector to spur investment. Viridios was set up in part to improve transparency in the carbon market and to provide clarity about the emissions reduction potential of different projects around the world. “There’s a lot of carbon offset projects around the world that require a considerable amount of working capital to generate that first credit with a range of co-benefits for the community, and for that to work you can’t have homogenous pricing.” “The free market should determine the price of these credits because it’s not a one-size-fits-all solution,” the investment boss told The Australian Financial Review. As big emitters fret that speculators will drive up the price of carbon offsets, Mr Listorti said the free market was the only way to guarantee genuine abatement and encourage more projects internationally. An artificial intelligence arm runs an international database, offered as software as a service, which provides information on offset projects and operates like a Bloomberg for carbon credits.Īustralia’s voluntary carbon market is booming as the Albanese government’s proposed reforms to the coalition’s safeguard mechanism boost demand for offsets from the country’s biggest polluters. Viridios – founded by former ANZ fixed-income boss Eddie Listorti – includes an asset management arm investing in carbon offsetting projects around the world. Viridios CEO Eddie Listorti: “The free market should determine the price of these credits because it’s not a one-size-fits-all solution.” Louise Kennerley The quality and integrity of Australian carbon credits can only be maintained if pricing is left to the free market, a leading Australian carbon investor says, rejecting calls from the heaviest emitters for pricing caps under the federal safeguard mechanism.Īustralian-based carbon offset investor Viridios wrapped up a $55 million capital raising on Wednesday with backing from impact investors including ROC Partners and Privatus Capital Partners, a boutique investor set up by former Goldman Sachs executive James McMurdo.
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