Bay Area Nonprofit Models the Financial Market to Build Trust and Accountability in the Carbon Market

SAN FRANCISCO--(BUSINESS WIRE)--Cool Effect, a Bay Area based 501(c)3 nonprofit focused on fighting the climate crisis, today announces The Seller’s Pledge. This legal commitment to transparency in pricing is part of Cool Effect’s Carbon Done Correctly program and is made to any buyer of carbon offsets from its platform. The Seller’s Pledge is now available for download from its website, cooleffect.org.

Cool Effect was created nearly five years ago to meet the surging demand from individuals, organizations and businesses who want to take action to reduce their carbon emissions then offset the rest with the highest quality carbon offset projects that demonstrate a true carbon benefit, full transparency in pricing, and secondary benefits.

The Seller’s Pledge commits to the following:

• Carbon credit pricing is always transparent, the buyer and developer know the price
• Fees are always fixed and fully disclosed
• No hidden fees or undisclosed markups
• No hidden markups on proprietary trading
• Every project represented is triple-verified to ensure quality

“If we are to have the success in the carbon market that we desire and the world requires, we must build trust through improved transparency of carbon offset transactions for the benefit of all market participants. In my 40 years in the financial markets, I have witnessed many cases where improved clarity and accountability of transactions led to remarkable growth,” said Cool Effect Co-founder Richard Lawrence who is also Executive Chairman of Overlook Investments Limited.

“Today’s announcement marks the beginning of The Seller’s Pledge and Cool Effect’s legal commitment to fully transparent transactions. We hope The Seller’s Pledge will build trust with high quality carbon offset buyers and that the entire market will embrace this pledge and help us bring trust to the carbon market for the buyers, the developers and the planet,” he continued.

The Seller’s Pledge is a key component to Carbon Done Correctly which is the basis for Cool Effect’s commitment to protect the reputation of its partners and provide a new level of trust in the carbon market for the large increase of new buyers.

• Rigorous scientific analysis of all projects on the platform including additionality
• Disciplined approach when reviewing scientific data, business practices, and pricing
• Commitment to Cool Effect’s mission to provide a simple way for individuals, organizations and businesses to have a measurable impact on the fight against the climate crisis

“In daily conversations with potential buyers, one question always arises: ‘Why do your prices differ from other sellers?’” says Jodi Manning, VP of Marketing and Partnerships. “The answer is The Seller’s Pledge. Cool Effect commits to full disclosure on pricing. We want the buyer to know exactly what will be sent to the project, and we want the developer to know exactly what is being paid and what they will receive. As a nonprofit, we also work to ensure that both sides understand our 9.87% fee. We want every buyer to trust that their donation is going to make a difference.”

Cool Effect has experienced a significant increase of inquiries from businesses searching for carbon programs and high-quality carbon offsets. The June 2020 Equity Research report from Goldman Sachs states, “…we see significant potential momentum for offset usage as companies focus more intensively on climate strategy and reputational risk," noting that corporate use of offsets is about to accelerate if the carbon market can build trust.

Cool Effect was founded to provide buyers access to carbon offsets from high-quality projects as well as price transparency, and encourages individuals and businesses to expect those high standards when considering their commitments to sustainability. To download The Seller’s Pledge today, and read more about Carbon Done Correctly, visit cooleffect.org.

About Cool Effect

Cool Effect is a San Francisco Bay Area 501(c)3 nonprofit dedicated to reducing carbon emissions around the world by allowing individuals, businesses, organizations and universities to create a tangible impact on climate change by funding the highest quality carbon reduction projects that are verifiably and measurably reducing global warming emissions. The organization was founded by Dee and Richard Lawrence on their passionate belief that support of carbon offset projects will create a cumulative effect that will reduce and prevent carbon pollution. Like the Butterfly Effect, The Ripple Effect, and others, a single action can have global impact. To learn more, please visit cooleffect.org or follow Cool Effect on Facebook, Instagram, LinkedIn and Twitter.

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