Dubai-based start-up, Olive Gaea’s carbon offset podium helps both establishments and individuals for the equilibrium out their carbon emissions. The start-up analyses the carbon footprint of any individual or establishments via a simple yet technology-based questionnaire, offering dedicated strategies and a list of carbon counterbalancing solutions and proved climate projects.
Founders Vivek Tripathi and Apurva Bhandari support clients to track advancement and get pleased powering more positive alteration concluded monthly and annual subscriptions. The podium empowers the clients to offset procurements build on e-commerce dealings including grocery orders, food and fuel delivery, and online stores, among others.
Vivek Tripathi, Founder, and CEO, Olive Gaea stated; “Having the sixth largest per capita carbon footprint in the world, UAE residents and businesses will now be able to become carbon neutral or even carbon positive by removing their own carbon emissions from the atmosphere in just a couple of clicks. Climate change is a real, urgent threat. We all share the responsibility to act in order to preserve our planet and, ultimately, our very future. The good news is that each one of us can now actually help solve this problem.”
Carbon trail is a quantity of GHG emissions unconfined due to a particular activity, such as chilling your home, heating system of your lunch, or taking a flight from Dubai to London. Some of the happenings, like manufacturing phones, flying planes, or eating meat are predominantly carbon-intensive.
Ventured together over a convinced period of time, those happenings make up your individual or commercial carbon footprint. Calculating your individual or business footprint is the initial step to owning your climate story. Olive Gaea advanced simple and accurate tools that lets you find out the precise sources of emissions from your lifestyle and business procedures and what can be done about them.
The start-up is funded around $300,000 and is directing to close seed funding in 2021. The venture ropes carbon offsetting projects that are handpicked and confirmed by third-party agencies like Verra and Plan Vivo. The platform is also driven by precise geo-tagging and QR code tracking, so clients can know the exact position and the impact they help to create with new plantation projects in just a few clicks.
Under the 2015 Paris Agreement, nearly 200 countries have endorsed the global goal of limiting the rise in average temperatures to 2.0 degrees Celsius above pre-industrial levels, and ideally 1.5 degrees. To meet this target, global greenhouse-gas emissions should be cut by 50 per cent of current levels by 2030 and reduced to net-zero by 2050.
The UAE is one of the participants of the Paris Agreement and has newly confirmed its goal to become a global leader in the green economy and report climate change. Having launched prominent strategic initiatives spanning from the National Agenda 2021 to the Energy Strategy 2050 and the Dubai 2040 Master plan, just to name a few, the nation still faces an extremely high per capita carbon footprint.
The UAE populaces, in fact, generate around 22 tonnes of CO2 emissions annually on average against a global average of 4.8 tonnes, way above the limit that would allow the world to meet the Paris Agreement’s targets and limit global warming.
Research demonstrations that, alongside curbing the CO2 discharges, carbon counterbalancing and volunteer carbon credits can benefit achieve the net-zero target by financing climate-action projects that cause additional benefits including biodiversity protection, pollution deterrence, and native community provision and development.
According to the Taskforce on Scaling Voluntary Carbon Markets (TSVCM), the mandate for carbon credits could upsurge 15 times or more in the forthcoming decade, assertive the global carbon credit marketplace’s worth to no less than $50 billion by 2030
“We shall focus on expanding into all emirates starting from Dubai and to various business segments in UAE in 2021. This shall help us templatise the growth model that shall be adopted for other Mena countries. We have plans to expand to KSA, Qatar, and Kuwait market in 2022,” concluded Tripathi.