Tracesafe has announced the acquisition of Offsety- a carbon offset marketplace for individuals to reduce their carbon footprint by investing in high quality offset credits, according to a press release.
With this acquisition, the Tracesafe said it strengthened its vision to help its Fortune 500 clients respond to the urgent call for climate action from their key stakeholders including customers, investors, regulators and governments.
Offsety will serve as a key platform for individuals to evaluate and offset their carbon footprint using ‘Carbon Reserve’- fractionalized high-quality offsets that have gone through stringent verification mechanisms, and third party audits.
With Offsety, TraceSafe has also brought onboard Qayyum Rajan, a prominent leader in the finance and technology ecosystem in North America.
Before launching Offsety, Qayyum was the founder and Chief Executive Officer at ESG Analytics, a startup that focuses on applying AI to the environmental, social and governance industry. Qayyum is anticipated to take a full time leadership role at the Company.
“We are thrilled to have Offsety and Qayyum join us at TraceSafe where we are solving the biggest challenge that companies are about to face globally; proof of climate action. Carbon removal is about to become a boardroom agenda for most companies and credibility of offsets will play a central role in the decision. This acquisition sets the pace for us as we move into the company’s future of decarbonization solutions for individuals, companies and their customers,” said Wayne Lloyd, TraceSafe CEO. “Qayyum comes with a successful history in ESG tech and deep expertise in carbon offset space and will be a key member of the team as we go into the exciting new direction.”
“I am excited to join the incredible team at TraceSafe. Offsety’s platform will be a seamless fit into the unique solutions that the company is building in carbon management. I am deeply passionate about the future of sustainable organizations and the role technology will play in making net-zero ambitions a reality,” said Qayyum Rajan, Founder- Offsety and former CEO- ESG Analytics. “TraceSafe has a notable history of identifying problems in the enterprise and creating solutions customized for various industries. With Offsety and the new portfolio of decarbonization solutions, we have an opportunity to make a real difference in climate action and the path to net-zero.”