UK startup Earthly bets on WA biodiversity hotspots to restore carbon credit trust
The London-based nature-tech company is partnering with Founders Factory Perth to launch Biome, a nature capital fund in Western Australia.
Australia’s carbon credit market has an integrity problem — and a UK startup believes Western Australia’s biodiversity hotspots could offer a solution.
Earthly, a London-based nature tech company that has assessed more than 1,000 environmental projects worldwide, is partnering with Founders Factory Perth to launch Biome, a natural capital fund in Western Australia, announced Thursday at the West Tech conference.
The fund has secured $1 million in foundational support and a $10 million commitment from an unnamed institutional investor. Its ambition is far broader: $5 million in impact investment with a philanthropy focus and $100 million in institutional capital to scale nature restoration initiatives across the state.
"What we understand from speaking to corporates is that there's a lack of really high integrity ACCUs [Australian carbon credit units] in the Australian market," co-founder Oliver Bolton told Capital Brief.
