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AVID purchases carbon credits from SunCulture

Climate-focused fintech company AVID Climate LLC, recently announced its collaboration with SunCulture, offering fractionalised investment assets - AVID Climate Units (ACUs) - which are in part comprised of tonnes of avoided carbon from SunCulture to the retail market

With the aim of broadening access to various themes in the carbon market, AVID’s climate investment platform enables individuals to make self-directed investments in climate impact initiatives. High-quality climatic themes such as renewable energy for agriculture – which is deployed by SunCulture to improve the livelihoods of African farmers – are supported by the platform. 

As farmers switch from diesel pumps to solar, SunCulture – the first company to commercialise solar-powered irrigation in Africa – revealed that it saves 20,000 tonnes of carbon dioxide and 1.9 billion litres of water per year. Moreover, customers are experiencing crop yield improvements of up to 300%, thus enabling farmers to grow more while spending less.

“Collectively, small changes add up to a big impact. To reverse the climate crisis, we need additional avenues that allow more people to get involved in climate action and multiply the positive impact,” said AVID Climate chairman and founder, Oliver Martin, adding that the company was working on addressing this issue through the democratisation of climate impact investing.

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