The Netherlands-based Proba, a company that helps businesses decarbonise by issuing tradable carbon certificates, announced that it has secured funding from ECG Ventures. The funding amount has not been disclosed.
Proba says the funds will help it to expand its clientele and advance its mission to promote collective action towards net-zero emissions.
The Investor
Rotterdam-based ECG Ventures invests in DeepTech-enabled Agri, Food, and Climate Technology startups to nurture innovation in the climate impact and agri/food tech spaces.
According to Jacco Zuijdweg of ECG Ventures, the carbon credit market aligns with their fund’s impact-driven mission, and Proba’s platform effectively monetises decarbonisation actions.
Their team is impressed by Proba’s dedication to the cause. Its platform also stands out in the carbon credit landscape with its promise and scalability.
“We’re super happy with the collaboration with ECG Ventures,” says Sijbrand Tieleman, CEO and co-founder at Proba. “We feel that ECG Ventures shares our passion and our vision to build a company and an ecosystem that can have a significant impact on how we can support supply chains to accelerate their efforts to reduce their climate impact.”
ECG Ventures is the second body to support Proba’s mission of accelerating the decarbonisation of supply chains. The company also receives support from the Netherlands Enterprise Agency.
Rewarding sustainability efforts
Since 2022, Proba has aimed to simplify and reward businesses for their sustainability efforts, encouraging companies to exercise meaningful climate actions.
Proba issues credible carbon certificates compliant with esteemed carbon accounting guidelines and voluntary carbon market (VCM) standards, including the GHG Protocol, SBTi, and ISO 14064.
This transparency and credibility allows businesses to confidently spotlight their environmental commitments and convert their CO₂ reduction or removal efforts into a separate product. This product can co-finance sustainability projects and enhance supply chain relationships.
Understanding carbon certificates
Proba’s carbon certificates, also known as carbon credits, are environmental assets representing the reduction in one metric ton of carbon dioxide emissions (1tCO₂e). Businesses earn these certificates by implementing initiatives to reduce their greenhouse gas emissions.
Carbon certificates provide businesses with tangible evidence of their positive environmental impact. Each certificate can serve as a testament to a company’s environmental commitment and its efforts to mitigate climate change.
Businesses who want to take part in unlocking the value of their climate actions can do so in four steps: Describe, Ensure, Convert, and Monetise.
First, businesses can share the details of their project and its expected carbon impact. Proba will then help register it on its platform.
Then, Proba will verify to ensure the transparency and credibility of the project with the help of recognised third-party verifiers. Once the project is verified, Proba will convert each tonne of CO₂ (tCO₂e) into a unique entitlement on a blockchain ledger. This transforms the businesses’ GHG reduction efforts into a valuable asset.
Businesses can monetise the certificates on the carbon market by selling or transferring them to buyers who want to reduce their greenhouse gas footprint. This additional revenue can help businesses recover the costs of their sustainability initiatives and make them more financially viable.
These certificates can also boost a company’s reputation and demonstrate its commitment to sustainability to stakeholders, customers, and the public. It can attract customers, investors, and partners who share these values, leading to increased customer loyalty, more investment, and stronger partnerships.
