CHICAGO, Aug. 17, 2022 /PRNewswire/ -- Climate Vault, an award-winning non-profit climate solutions start up founded at the University of Chicago, today announced it has entered into a strategic growth partnership with Bilancia, one of India's fastest growing sustainability consulting firms. Climate Vault will become Bilancia's preferred carbon reduction solution and Bilancia will promote Climate Vault's solution in the rapidly growing Indian sustainability market.
Climate Vault pioneered a one-stop, market-based integrated carbon reduction and removal platform and partners with leading organizations to deliver not only the quickest, most credible way to voluntarily reduce their carbon footprint and achieve carbon neutrality but also a driver of business growth, employee recruitment and retention and customer preference and purchase.
"We're excited to partner with Bilancia to extend Climate Vault's international reach and to bring our innovative, verifiable and highly-effective market-based solution to India's massive economy," said Michael Greenstone, Co-Founder of Climate Vault and Milton Friedman Distinguished Service Professor of Economics at the University of Chicago, and former Chief Economist for President Obama's Council of Economic Advisers. "In just over a year, Climate Vault has already reduced CO2 emissions by nearly 750,000 metric tons and is using the financial value of those reductions to accelerate game-changing carbon removal technologies. This partnership will allow us to help satisfy the rapidly growing demand from organizations to reduce their carbon footprint in one of the world's most important markets."
"Carbon action and meaningful, strategic sustainability programs are no longer optional for today's modern businesses; they are economic imperatives," said Rajas Gupta Managing Director at Bilancia. "We are thrilled to join with Climate Vault and bring their breakthrough solution for carbon reduction and removal to the burgeoning Indian marketplace. There is enormous need and demand for Climate Vault's highly transparent, simple and cost-effective approach to helping organizations reduce their carbon footprint. We look forward to partnering with them and scaling their impact in India."
Named to Fast Company's 2022 World Changing Ideas list, Climate Vault's solutions are trusted by leading organizations including Morningstar, TPG, Gemini and Vanderbilt among others. More information on Climate Vault's innovative approach can be found here.
ABOUT CLIMATE VAULT
Climate Vault is a climate solutions start-up founded at the University of Chicago by former senior White House economic advisor Michael Greenstone and prominent business leaders. We deliver the world's first verifiable, integrated carbon reduction and removal solution, providing a fast, easy and credible way for organizations and individuals to achieve carbon neutrality. Our market-based solution is focused on immediately reducing carbon footprints by purchasing allowances from highly-regulated compliance carbon markets and ultimately converting those allowances into funding for cutting-edge carbon dioxide removal (CDR) tech that will remove carbon emissions from the atmosphere, forever. Climate Vault's CDR initiative is backed by a "Technology Chamber" composed of leading climate science experts, including former U.S. Secretary of Energy, Ernie Moniz. Since our launch in 2021, we've been named to Fast Company's list of "World Changing Ideas," and reduced ľ million tons of CO2 for our partners, the equivalent of preventing 72,000 passenger cars from driving around the Earth. Leading brands such as T. Rowe Price, Vanderbilt University, TPG, Morningstar, Gemini and Danfoss trust Climate Vault to build tailored carbon programs that deliver quantifiable results and enduring impact. Visit www.climatevault.org to learn more, calculate your individual footprint, and help your organization or financial portfolio reach carbon neutrality.