Here you’ll find more information about our climate projects and why we have chosen them
To be 100% sure that you are living climate neutral, ClimateHero will offset twice as many tons CO2 as your lifestyle calculation shows.
The offset is made with an optimized portfolio of climate projects that have been chosen to maximize the climate benefit for the lowest possible cost and risk. Furthermore, we make sure that our projects carry out social improvement.
By using ClimateHero, you invest in a portfolio with several chosen projects shared by all Climate Heroes, which means the risk will be spread out for a much safer investment than if you as an individual were to invest in one particular project. That is the same logic as when taking on less risk by investing in a mutual fund instead of buying a single stock.
The project portfolio has three categories: Gold Standard, Good Bets, and Clean Development Mechanism (CDM).
Gold Standard (supported by e.g. Greenpeace and WWF) contains certified projects that have gone through the toughest audit requirements regarding proved climate benefit and social improvement.
ClimateHero invests at least 50% of neutralized tonnage in Gold Standard projects and we have thus far invested in:
- Nuetech Solar Water Heating Project – Today, 90% of people living in cities in west India use direct electricity to generate warm water. Since warm water represents 20-30% of the electricity usage and India’s electricity mix today consists to a large extent of fossil fuels, this has a significant negative climate effect. Neutech Solar is a Gold Standard certified program that distributes solar water heaters that are put onto household roofs.
- Gangadhar Narsingdas Agrawal Wind Power project – This project builds and installs windmills to generate electricity in western India, which is currently heavily dependent on fossil fuels for electricity generation. Apart from the large climate benefit, it also creates green jobs and a safer provision of electricity.
- Guizhou Province Methane Digesters -The project builds and installs 18 000 biogas digesters fueled by pig manure, for local households. This is an extremely effective project since it both eliminates the households’ use of coal and avoid that methane gas (which is 30 times ‘stronger’ than CO2) from the pig manure escapes to the atmosphere. The project is Gold Standard certified and besides positive climate impact it also enables better air quality and new green jobs.
By Good Bets we mean projects where it is harder to calculate the exact climate benefit, but which are extremely effective even with conservative assumptions. For these projects, ClimateHero estimates a conservative climate benefit that we actually know is many times higher. In that way, we can maximize the climate benefit of our investments without increasing the risk that the promised climate benefit is not attained.
ClimateHero invests a maximum of 25% of neutralized tonnage in Good Bets and we have so far invested in:
- SolarAid – An international charity organization founded in 2006 with the mission to fight poverty and climate change by distributing solar panels to families in Uganda, Malawi, and Zambia.
- Coolearth.org – An organization that works together with native peoples in the rainforest to prevent deforestation. The organization received the highest grade during the last audit from GivingWhatWeCan, which is tasked with evaluating the most effective charity opportunities.
Clean Development Mechanism (CDM)
The remaining ~25% is made up of investments in CDM projects (supported by the UN). They are somewhat less safe than Gold Standard and might not have the same upside as Good Bets, but have a lower cost per ton, which makes it possible to reach a steady price per ton for the portfolio as a whole.
ClimateHero has so far invested in:
- EKI Energy Solar Power project – This project is installing a total of 7.52 MW solar power plants in the Madhya Pradesh state in central India. Apart from increasing the share of renewable energy in the electricity mix, the project will also provide green jobs and improved net safety against power cuts, which happen frequently in the region.
ClimateHero use a 3rd party auditor to inspect and validate our carbon off-set practice. The objective of the audit is to secure that ClimateHero acts in compliance with the stipulated policy and ensure that the off-set volumes in climate projects match the volumes bought by ClimateHero’s users. The audit is conducted in relation with the financial closing of books each fiscal year. The first year of activity was 2018.