Pachama is using machine learning to monitor tree growth in real-time, making it easier for companies to invest in carbon offset schemes
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Spotted: US-based startup, Pachama, is using AI and other technology to monitor and verify reforestation projects. The company is creating a marketplace to link companies with carbon offset projects and help to develop the Forest Carbon Credit market.
Companies can connect with projects already, but it is difficult to verify how much carbon a forest is offsetting. The current method requires hiking into the forest with a measuring tape and laser to establish a tree’s width and height. It is also necessary to manually count the number of trees in the plot.
Pachama will use technology to make the process more accurate and accessible, including using machine learning, satellite and LiDAR, to track and monitor forestry projects. It is also creating a transparent marketplace so that carbon offset sellers and buyers can work together directly. The company says the improved marketplace will help develop and grow the Forest Carbon Credits market.
Pachama has 23 forest projects — three in the Amazon rain forest in Brazil and Peru, and in five US states. The startup recently raised €3.7 million to create the marketplace, and current investors include former Uber executive, Ryan Graves.