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CHICAGO, May 3, 2022 /PRNewswire/ — Climate To jumpan award-winning non-profit organization founded at the University of Chicagowas today named a finalist in the Climate category of fast business 2022 World Changing Ideas Awards recognizing products, concepts, companies, policies and designs that innovate for the good of society and the planet. fast company recognizes Climate Vault’s innovative, market-based climate solution that nullifies carbon footprints while supporting technologies to remove carbon dioxide from the atmosphere.
“We are proud to join such a prestigious list of fast business winners,” said Michael Greenstone, co-founder of Climate Vault and Emeritus Milton Friedman Professor of Economics at the University of Chicago, and former Chief Economist of President Obama’s Council of Economic Advisers. “Climate Vault has pioneered a transparent, verifiable and low-cost market-based carbon offset solution that, in one year, has already reduced allowable CO2 emissions by more than 730,000 tonnes in compliance markets. And we are preparing to use the financial value of these offsets to accelerate carbon dioxide removal technologies.”
Climate Vault is a 501(c)(3) that works with organizations to reduce carbon emissions through a two-step market-based approach. Climate Vault first purchases and “vaults” carbon pollution permits from government-regulated compliance markets. Since the number of permits is capped, keeping them out of the market reduces CO2 emissions and provides a quantifiable and verifiable offset. Then, Climate Vault will use the value of the vaulted permits to support CDR’s breakthrough ventures, endorsed by its world-class chamber of technology experts, to remove carbon from the atmosphere. Climate Vault’s innovative climate solutions are trusted by leading organizations such as Morningstar, TPG, Gemini and Vanderbilt among others. More information on Climate Vault’s innovative approach can be found here.
“We are constantly inspired by the novelty and creativity that people are applying to solve some of our society’s most pressing problems, from housing to the climate crisis. fast business relishes its role in amplifying important innovative work to tackle big challenges,” says David Lidskyacting editor of fast business. “Our journalists have identified some of the most ingenious initiatives to launch since the start of 2021, which we hope will both have a significant impact and inspire others to join the solution.
Now in its sixth year, the World Changing Ideas Awards showcase winners in a wide variety of categories, highlighting companies, policies, projects and concepts that are actively engaged and deeply committed to the pursuit of innovation when t is about solving health and climate crises, social injustice or economic inequality. A panel of eminent fast company editors and reporters selected winners and runners-up from more than 4,000 entries in transportation, education, food, politics, technology, and more. Winners will be featured in the Summer 2022 issue of fast business magazine.
About Climate Vault
Founded at the University of Chicago, Climate Vault is a CDP-accredited 501(c)(3) that helps organizations and individuals neutralize their footprint by using government-regulated compliance marketplaces to purchase and “vault” CO2 permits while supporting carbon removal technologies to remove pollution already present in the atmosphere. Thanks to its supporters, Climate Vault has vented over 730,000 metric tons of CO2 to date. To visit www.ClimateVault.org to find out more, calculate your individual footprintand help your organization or financial portfolio reaches net zero. Join the climate conversation by following us on Facebook, Twitterand LinkedIn.
SOURCE climatic vault