# Transforming Carbon Markets: Insights from Ryan Gledhill
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Chapter 1: An Overview of Thallo
Thallo is at the forefront of climate solutions, focused on revolutionizing the carbon market through cutting-edge technology. This company is dedicated to making sustainability more actionable for both businesses and individuals.
As a vital ally for organizations navigating the complexities of the voluntary carbon market, Thallo facilitates seamless access to substantial verified carbon credits. This ensures that each transaction contributes to meaningful and traceable climate action, turning the path to carbon neutrality into a tangible reality rather than just a commitment.
One of Thallo's standout services is its Carbon-as-a-Service (CaaS) API. This innovative tool enables companies to effortlessly incorporate carbon credits into their operations and products. By doing so, businesses across various sectors—from e-commerce to manufacturing—can enhance their sustainability credentials and contribute to a greener economy.
In November 2022, Thallo achieved a significant milestone by securing $2.5 million in a seed funding round, spearheaded by Web3 giant Ripple. This funding is aimed at advancing the development of Thallo's web3-based carbon exchange platform, which is designed to tackle pressing challenges within the voluntary carbon market. Rather than commoditizing carbon credits, Thallo prioritizes direct collaboration with project developers, ensuring fair value distribution and improving project funding efficiency.
The first video titled "Introducing Insights Q from Element451" provides an overview of new insights and technologies in the climate solutions field.
Chapter 2: Growth Factors and Challenges
Key elements driving Thallo's growth include strategic partnerships and a remarkably skilled team. The voluntary carbon market is poised for substantial growth, with conservative estimates predicting a tenfold increase in market volume by 2030. There is a wealth of institutional funding available, waiting for the right moment to enter the market.
However, a significant obstacle remains: the necessity for a software platform that can aggregate and trace high-quality credits from their origin to retirement. This is precisely the challenge that Thallo is addressing.
What fuels Gledhill's passion for this work? He expresses a profound concern for future generations, especially after starting a family. The reality of climate change is increasingly undeniable, and there is a generational shift towards addressing one of humanity's greatest challenges.
Some alarming facts that motivate action include:
- Climate change could lead to over 150,000 deaths in Europe by the century's end due to extreme weather.
- The Arctic may become ice-free by 2040, significantly altering global climate patterns.
- Nearly one million species face extinction from ocean acidification.
- A single degree Celsius rise in night temperatures could decrease global rice production by 10%.
- California's 2013 drought was its driest year on record, severely impacting water supply.
- Wildfires are on the rise globally, with boreal forests losing 3% of their tree cover annually due to fire.
Immediate action is essential; anything less than global commitment risks severe repercussions for future generations.
The second video, "Amazon Q Industry Demo - Automotive Insights: 2024 Amazon QuickSight Learning Series," explores industry insights and data analytics in the automotive sector, emphasizing the role of sustainability.
Section 2.1: Achievements and Challenges
Gledhill views Thallo's success in disrupting the voluntary carbon market as a collective achievement, attributing it to the talented team and partnerships with project developers. His role has been to bridge gaps between previously disconnected parties, allowing more capable individuals to handle the core work.
The major challenges include resistance from registries when attempting to incorporate and standardize credits for more efficient trading. This situation reflects a typical issue faced by incumbents, where a "this is how we have always done it" mentality prevails. To achieve rapid growth, new software and partnerships are necessary, yet many prominent registries maintain long waiting lists for new projects.
Technological innovations like AI can significantly reduce the project registration timeline. Aggregation platforms such as Thallo can enhance price discovery, promoting fair pricing for project developers. Additionally, automated project monitoring through IoT and satellite technology can elevate project quality standards.
Nevertheless, for these advancements to materialize, registries must foster collaboration among themselves and with innovators in the field. Gold Standard serves as an example of a registry with a progressive and collaborative approach.
Section 2.2: Combating Greenwashing
Businesses often face scrutiny for potential "greenwashing," where actions appear environmentally friendly but lack substance. Thallo addresses this concern through several key measures:
- A transparent vetting process for carbon offset projects, ensuring thorough due diligence on environmental impact, permanence, and additionality.
- Membership in recognized third-party verification standards (e.g., Verra, Gold Standard) to certify the integrity of projects.
- The technology itself ensures transparency and prevents double counting, guaranteeing that credits are retired after use.
Ultimately, Gledhill believes that even if companies purchase carbon credits primarily to meet requirements, increasing demand for quality credits will drive up prices. This will motivate businesses to seek more effective decarbonization strategies rather than relying solely on offsets.
Advising aspiring entrepreneurs, Gledhill emphasizes the importance of networking. Disruption in diverse markets requires collaboration, as a collective effort can yield better solutions to complex problems. When well-positioned within such movements, businesses can achieve customer traction, profitability, and attract top talent.
Reputation, he concludes, is paramount in sustaining high growth.
We appreciate your engagement with Ryan's insights and perspectives.