Latin America Expansion with NUMA
Carbonaires extends global footprint through collaboration with NUMA Partners on carbon removal projects and financing in Latin America
23 May 2024 – Carbonaires, the London‑based carbon asset manager, today announces that it has signed a Memorandum of Understanding (MoU) with NUMA Partners (NUMA), a developer of investment strategies in private equity and other markets, to collaboratively develop and manage high quality carbon removal projects in Latin America. This pioneering agreement leverages the companies’ unique capabilities to facilitate lower‑risk investments and acquire high‑integrity carbon credits. The partnership expands the company’s reach and solidifies its position as a leader in the Voluntary Carbon Markets (VCM).
Under the agreement, Carbonaires will apply its proprietary due diligence systems to ensure delivery of measurable, additional and transparent carbon removal projects of the highest quality. This includes, but is not limited to, carbon credit project feasibility analysis, volume projections, certification and sales processes.
The MoU will leverage NUMA’s financial structuring expertise and established network in Latin America to identify and monitor projects and partner with local project developers. NUMA will collaborate with Carbonaires to secure funding for both its strategic growth and project initiatives.
The immediate activation of the MoU signifies both companies’ commitment to scaling the availability of high quality carbon credits in the VCM at pace. The agreement defines an exclusive relationship between Carbonaires and NUMA in relation to carbon credit projects in South America (excluding Argentina).
Latin America is the world’s second largest provider of voluntary carbon credits, with just under 20 % of global VCM projects being based in the region (https://www.ieta.org/resources/reports/status-and-trends-of-compliance-and-voluntary-carbon-markets-in-latin-america/). Carbonaires and NUMA recognise the region’s leadership potential in the carbon markets and look to increase investment through this MoU.
This partnership marks a crucial milestone in Carbonaires' mission to deliver high integrity carbon credits across the globe. We are excited to unlock the huge carbon removal opportunities available in the region and beyond through collaboration with NUMA. Carbonaires is looking forward to extending its working relationship with local developers to not only generate high quality carbon removal projects, but also to deliver positive local impacts through job‑creation, improved environmental quality and numerous other co‑benefits.
— Michael Spenley, Partner and Co‑founder of Carbonaires
Latin America is the natural site for this partnership to take place. Our strong existing professional network in the region, and Carbonaires' project‑specific expertise on due diligence and origination presents a strong investment opportunity. We are delighted to collaborate with Carbonaires on this exciting partnership as we enter the carbon credit ecosystem.
— Cristian Moreno, Partner at NUMA Partners
Carbonaires was founded in 2021 by a group of entrepreneurial investors and ESG ambassadors to finance high‑quality, high‑integrity carbon removal projects. Through its pioneering project finance model, the company provides funding to enterprises that demonstrably remove atmospheric carbon, in turn helping businesses to strengthen their financial viability. The carbon credits generated through projects are made available for purchase to corporations who also have committed to a transparent and verifiable carbon reduction plan.
NUMA Partners focuses on developing opportunistic investment strategies in private equity and other markets. With significant experience and an established network in LATAM, NUMA brings financial structuring expertise and a deep involvement in optimising the financial health of its investments.
Media enquiries
Leighton Barnish, Powerscourt
email: Leighton.barnish@powerscourt‑group.com
Tel: +44 7484 800209
