Through its highly targeted and tech-enabled solutions, CarbonEthics is inspiring and enabling climate action while improving the livelihood of local communities and biodiversity
JAKARTA, INDONESIA, September 18, 2024—CarbonEthics, an Indonesia-based developer of tech-enabled natural climate solutions helping organizations meet their climate goals and create positive social impact, today announced the completion of a US$2.1 million Seed round of financing led by Intudo Ventures, with participation from a number of strategic angel investors.
Founded in May 2019, CarbonEthics began its journey developing expertise in blue carbon ecosystems, later broadening its scope to include peatland and green ecosystems. Through the company’s suite of natural climate solutions, CarbonEthics blends environmental impact and commercial impact to restore natural ecosystems to help businesses on their decarbonization journey, and create new sources of revenue. The company is working to regenerate destructed forests into protected forests, combining grassroots approaches with technology. CarbonEthics works with clients to co-develop projects to assist them in meeting their climate goals from ideation and feasibility study to implementation and monitoring—while also advancing social impact by directly enhancing the livelihoods of local community partners and thriving biodiversity.
CarbonEthics offers three core solutions—(1) Nature-Based Carbon Projects: protecting ecosystems to sequester carbon, enhance community livelihoods, and safeguard biodiversity; (2) Tree Planting: supporting ecosystem rehabilitation efforts, with a focus on blue carbon ecosystems; and (3) Carbon Consultancy: offering ESG (Environmental, Social and Governance) and policy advisory to help clients meet carbon reduction targets and comply with relevant regulations.
One of the most notable features of CarbonEthics’ services is the company’s holistic approach to Nature-Based Carbon Projects, under the metrics of “CCB”—Carbon, Community, and Biodiversity. CarbonEthics’ projects are designed to deliver measurable benefits across all three areas, beyond just carbon.
CarbonEthics originates from Indonesia, one of the largest and most vital ecosystem reserves left on Earth. Operating at the heart of Southeast Asia, CarbonEthics is tapping into a region that is projected to provide approximately 30% of the world’s carbon-offset supply by 2030 through Nature-Based Solutions.
CarbonEthics is led by Bimo Soewadji (Chief Executive Officer); Jessica Novia (Chief Impact Officer); and Innandya Kusumawardhani (Chief Operating Officer). The team first met at the One Young World Summit in the Netherlands in 2018, representing their respective companies. Recognizing their shared commitment to accelerating climate action, the trio set out to establish CarbonEthics and convert their conviction into action.
"Achieving net-zero emissions is not only essential to safeguarding both the planet and the global economy from rising climate risks, but it also opens new avenues for profitable growth and innovation. We invite more partners to join us in scaling impactful climate initiatives, unlocking significant investment opportunities, and driving sustainable growth that benefits both people and the planet," said Agung Bimo Listyanu, Co-Founder and CEO of CarbonEthics.
CarbonEthics partners with various stakeholders from private companies, state-owned enterprises, government agencies, and non-governmental organizations to assist them in their decarbonization journey. Notable clients include: Allianz, Ernst & Young, Danone, and many more. The company has also established strategic partnerships across international, national and local level, such as with Form International, Indonesian Chamber of Commerce and Industry (KADIN) and Transjakarta.
To date, CarbonEthics has completed carbon project pre-feasibility studies for over 4,200,000 hectares of land with carbon project potential of more than 1 million tonnes of verified carbon units CO2e/year; while planted approximately 288,000 biotas—mangroves, seagrasses, seaweeds, and corals. The company has partnered with over 300 businesses and institutions, supporting 284 beneficiaries, 22% of whom are women.
In recognition of its impactful work, CarbonEthics has earned several prestigious distinctions. It received the Initiative of The Year honor at the Indonesia Social Responsibility Awards (ISRA) 2024, was recognized as one of the Top 3 Most Impactful Start-Ups by the Japan International Cooperation Agency (JICA) NINJA program, it was was a finalist for the B20 Sustainability Awards 4.0 by the Swiss Chamber of Commerce, and many other recognitions.
With this round of financing, CarbonEthics will enhance its portfolio by securing additional carbon projects and recruiting top-tier technical experts to better serve the needs of its clients. By 2030, CarbonEthics aims to protect and restore 8 million hectares of land under management and deliver more than 160 million tonnes of CO2e impact, while creating a sustainable economy for more than 50,000 local beneficiaries, and restoring biodiversity.
”Businesses have awakened to the urgency of addressing climate impact, and Indonesia is an essential link in the sustainability supply chain for local and global stakeholders covering everything from forest and coastal restoration to renewable energy sources. Through its tech-powered commercialized carbon solutions, CarbonEthics is helping institutions achieve their carbon commitments while creating commercial impact and supporting the livelihood of local communities—we’re excited to support the CarbonEthics team on this journey.” said Patrick Yip, Founding Partner, Intudo Ventures.
This investment marks the second external round of financing for CarbonEthics. In 2023, CarbonEthics raised US$220,000 in pre-seed funding from Spiral Ventures and Ecoxyztem.
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About CarbonEthics
CarbonEthics is an Indonesia-based developer of tech-enabled natural climate solutions. Starting with developing expertise in blue carbon ecosystems, CarbonEthics is now broadening its expertise to include peatland and green ecosystems.
CarbonEthics is developing high-quality nature-based projects to restore the climate balance while improving the livelihood of local communities and supporting biodiversity. Its goal is to become the first-choice partner for decarbonization through deep understanding of the methodology and regulatory landscape, as well as local communities to ensure projects' success and return on investment.
For more information, please visit carbonethics.co/ or check us out on LinkedIn and Instagram.
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CarbonEthics
Devira Nurmaulina