2025 @ CarbonBetter

Climate Services

Our Climate Services team helps businesses with end-to-end climate and carbon solutions: measuring and managing Scope 1, 2, and 3 greenhouse gas emissions, enabling sustainability driven value creation, setting reduction targets, building practical decarbonization roadmaps, conducting materiality assessments, and performing climate scenario and risk analysis.

We also support clients in the energy decisions that often drive the biggest, fastest impact; helping them identify and source lower-carbon electricity and natural gas, define procurement strategies, and deploy complementary clean-energy instruments such as renewable energy certificates (RECs) and renewable natural gas certificates (RNGs) when needed. 

Across it all, we source high-quality carbon credits and build the systems to track, report, and scale results over time. We also support carbon and clean-energy project developers by driving the carbon credit generation process and maximizing their return on investment through strategic carbon credit marketing. 

Every year, our Climate Services team commits to driving progress across every industry we support, every company that seeks guidance, and every individual working to make change possible. This year tested that commitment.

As political winds shifted and climate policy became a point of contention rather than consensus, we continued to move forward. Regulations shifted. Federal guidance changed. Public conversations turned sharper, louder, and increasingly polarized. At times, it felt like progress itself was up for debate. But our commitment to driving meaningful climate action remained unwavering.

The complexity of these changing times made our work even more consequential, more human, more collaborative, and more urgent. With every conversation, every analysis, and every strategy session, we found ourselves advocating for the value of this work, showing why climate action still matters. And through that effort, we saw partners choosing long-term commitments over short-term reactions. We saw teams leaning in to gain strategic advantage and drive business resilience, especially when it would have been easier to wait things out.

In that shared commitment, we found the kind of progress that lasts.

Work with Clients

Our work this year reflected the importance of standing firm: defending the value of climate action against skeptics while staying aligned with the realities of our changing climate. Our clients understood this. They asked themselves, and us, the hard questions and chose to move forward anyway. Their commitment to progress, and to becoming better, never wavered.

In 2025, we highlight these three partners that pushed our mission further.

SUSTAINABILITY REPORTING OVERVIEW

Sustainability reporting serves as a valuable tool to achieve corporate commitments and better manage climate-related business risks. This white paper walks you through what's typically included and what should be considered.

🌍 Carbon markets can feel overwhelming—fragmented data, limited transparency, and conflicting advice make it hard to know where to start. In this webinar, our experts give a clear, practical introduction to the VCM.

Thank you to all our clients for the collaboration and for making us your trusted partner in your sustainability journey. Your leadership and commitment in this space is proof that meaningful progress continues on.

Industries

If 2025 taught us anything, it’s that climate work doesn’t belong to only one type of industry. It belongs to everyone. And this year, we were honored to help push that progress forward across many industries that move our economy, shape our lives, and will define our shared future.

We supported consumer brands, grocery retailers, and alcohol and distilleries balancing growth with responsibility in fast-moving markets. We worked with private equity and professional services teams who are redefining what long-term value means when climate risk becomes business risk. We partnered with climate tech and SaaS companies building the tools of the future, then stepped into agriculture and maritime spaces where climate impact is lived daily; through land, trade, and supply chains.

We also stayed close to the engines powering and building the world: utilities, retail energy suppliers, carbon offset developers, and energy infrastructure leaders, alongside commercial, steel, and industrial manufacturers taking on some of the hardest decarbonization challenges at scale.

We are proud of the work we have accomplished together, and we are excited to see what 2026 will bring.

Carbon Offsets

This year, as the carbon market continued to evolve under heightened scrutiny, we doubled down on quality, continuing to ensure that every credit we sold was credible, transparent, and connected to real, on the ground stories of change.

We delivered more than 300,000+ credits to a wide range of buyers, but what mattered most was the integrity behind each one: the investment in protecting ecosystems, improving biodiversity, supporting communities, and reducing or removing emissions at the source. Every partner who chose high-quality offsets made a deliberate investment in the future, backing climate solutions that might not exist without that support.

Among the many projects in our portfolio, three stood out to us this year for their impact:

Kuamut Project (Malaysia): Nature-Based Removals

In the forests of Malaysia, the Kuamut Project protects and restores 83,381 hectares of vital ecosystems through improved forest management, strengthening the land's capacity to store carbon over time. The investment also enables deeper monitoring and research into species and ecosystem health, helping safeguard biodiversity across the region. Just as importantly, Kuamut supports the people who live alongside these forests. More than 3,000 community members benefit through new economic opportunities that tie local livelihoods to long-term forest protection.

Home Energy Efficiency (United States): Smart Thermostat Optimization 

The project will leverage ecobee smart thermostats and their advanced optimization software to reduce residential heating and cooling energy use across the United States. Although the enhanced energy-saving functionality incurs significant costs for ecobee and generates no added revenue, it delivers substantial reductions in electricity and natural gas consumption for home HVAC systems. The project groups homes by climate zone and equipment type. Over the full crediting period, the initiative is expected to reduce approximately 3.83 million tons of CO₂, averaging about 546,561 tCO₂ per year.

Punta Palmeras Wind Power Project (Chile): Renewable Energy at Scale 

In Chile, the Punta Palmeras wind project generates renewable electricity for roughly 60,000 homes, directly replacing fossil-based energy and helping anchor a stronger, more resilient renewable grid in the region.

But what makes Punta Palmeras especially meaningful is how it was built. From the start, the project followed rigorous environmental safeguards. Thousands of native cactus and bromeliad plants from the semi-arid landscape were safely relocated. Local plant species were nurtured in greenhouses so they could later be replanted in areas affected by construction. And a wildlife relocation program ensured small mammals, amphibians, and reptiles were moved out of harm's way.

Punta Palmeras shows what high-integrity climate projects can look like: clean energy delivered at scale, while the ecosystems around it are respected and strengthened.

Together, these projects reflect what we believe the carbon market should enable: real climate progress that protects nature, supports people, and keeps the future moving in the right direction.

Moments that Inspire Us 

Not all the moments in 2025 happened behind a screen, the moments that inspired our work were in rooms full of people with ideas and passion towards the same direction. Events and gatherings gave us ideas on where climate work was heading, open discussions, interchanging of ideas, a chance to share our learnings and a remind that all the work move forward through community. 

Here are just a few of our favorite events:  

GreenTech 2025 : Hosted by Green Marine in New Orleans, Louisiana, this 18th annual conference gathered leaders from across the maritime world: ports, shipping companies, logistics providers, terminal operators, and academic institutions, all focused on moving the sector toward sustainability.

In the middle of those conversations, our Climate Services Managing Director, Pankaj Tanwar, took the stage to highlight the importance of climate risk assessments. His talk demonstrated how understanding physical and regulatory climate risks helps the sector plan smarter, invest with confidence, and build long-term resilience in maritime transportation.

Houston Energy & Climate Week : HECW brings the region together to accelerate the clean energy transition. It creates space for the public, industry leaders, and policymakers to discuss the realities of climate resilience and sustainability. Through a week of conversations, workshops, and community-driven events, educators and experts help connect climate challenges to the energy systems driving them, sparking the ideas and partnerships that move real innovation forward.

This year, CarbonBetter played a central role in making that impact measurable. We completed a full carbon accounting of HECW, capturing the event's footprint from end to end and turning it into clear, actionable insight. This work helped ensure the week didn't just inspire climate progress but also set a higher bar for what sustainable events can be.

San Francisco Climate Week : San Francisco Climate Week is a decentralized, community-built gathering, organized by and for the people doing the work. For one full week, the city becomes a living network of conversations, panels, and meet-ups where climate leaders, organizers, and supporters come together to share ideas and move solutions forward.

This year, our Climate Analyst Sayali Chaudhari and Pankaj Tanwar joined the week's events, stepping into rooms filled with urgency, optimism, and real world problem solving. Through panel discussions and countless informal conversations, they left with fresh insight into where climate action is gaining traction, what challenges are rising to the surface, and how businesses across sectors are choosing to lead, even in complex times.

SEMICON West : This year, SEMICON West made its Phoenix debut, bringing North America's premier microelectronics exhibition to the Phoenix Convention Center. For us, the event was a chance to step into the world behind the technologies that shape nearly everything we do.

Semiconductors are the quiet backbone of modern life, powering clean energy systems, climate tech, logistics, healthcare, and the software we rely on daily. At SEMICON West, industry leaders, startups, researchers, and manufacturers gathered to share what's next and to build the collaborations that will carry the sector forward.

Our visit was rooted in our partnership with SEMI. Working together brought us into deeper dialogue with the industry, helping us understand its pressures, its pace, and how climate strategy can meet the sector where it is.

While SEMICON West isn't solely a climate event, being present mattered. It gave us the opportunity to listen, to understand the realities of the semiconductor supply chain, and to broaden the conversation about how this essential industry can grow sustainably. In many ways, showing up reinforced that climate progress belongs not only in climate spaces, but in the places where the future is being built.

Wholesale Energy Logistics

Every day, our wholesale team makes sure there's enough natural gas for our customers, when they need it, and at a fair price. They watch the market, looking for the best moments to buy and sell. They then guide that gas across the pipeline network, adjusting plans as conditions change, so it arrives on time.

By pairing smart market decisions with hands-on, real-time coordination, they help keep energy dependable and keep costs from creeping up.

What started as a highly coordinated regional operation has grown into a coast-to-coast platform across North America—strengthening our reliability, increasing flexibility to source power and gas cost-effectively, and letting us serve customers consistently no matter where they operate.

Our expanding footprint also opens access to new markets and innovations, meaning more options, better solutions, and stronger partnerships tailored to each customer's needs.

Stepping into wholesale energy logistics is no small task. It’s a fast-paced, highly technical environment that demands precision, adaptability, and grit. Yet it’s also one of the most rewarding parts of our business. As Chief of Staff, Trey Sexton shared:

SUSTAINABILITY REPORTING OVERVIEW

Sustainability reporting serves as a valuable tool to achieve corporate commitments and better manage climate-related business risks. This white paper walks you through what's typically included and what should be considered.

Key Achievements 

2025 was defined by growth. We refined our approach to trading operations and expanded into new markets and strategies, allowing us to better support our customers. The continued development of our team has been essential in meeting new and evolving demands.

Summer Internship Program 

A major milestone this year was the launch of our inaugural Summer internship, which is CarbonBetter's exclusive 10-week pipeline into natural gas trading.

Over the summer, five outstanding interns joined us, jumping into one of the most competitive corners of energy to kick-start their careers in gas operations. They worked full-time alongside senior traders, received hands-on mentorship, and made real trading decisions while contributing to ongoing projects.

Recruitment for the 2026 cohort is now complete, reflecting our ability to attract top talent in a highly competitive landscape. We’re excited to welcome future interns into full-time roles as they grow with CarbonBetter. 

A Year of Learning  

From seasoned veterans to new analysts, the team's dedication, resilience, and willingness to support one another have been central to our success. This collaboration has deepened our understanding of the business and strengthened our operational capacity, setting the stage for even greater achievements ahead.

Retail Energy Operations

Through Provision, CarbonBetter's retail supply subsidiary, we make clean energy accessible and affordable to customers in Ohio and Michigan. Our purpose is to enable anyone, from individual consumers to small businesses, to participate in a low-carbon future.

Guided by a vision of delivering the highest-quality energy at the lowest possible price, we rely on technology, automation, and data-driven optimization to serve customers across competitive, deregulated markets. By choosing clean energy at affordable prices, our customers collectively make a meaningful contribution to the world.

After another strong year of growth, we're excited to expand our geographical footprint in 2026, bringing Provision's clean energy offerings to more consumers and unlocking new opportunities for bigger impact.

To support this scale, we strengthened our internal capabilities: adding business analysts to deepen insight and improve decision-making, growing the sales team to meet rising demand, and expanding Customer Care to ensure fast, personal, high-quality support. In parallel, we continued modernizing our systems and processes to keep operations efficient, resilient, and ready for what's next.

Provision Impact

We're proud to share the positive impact our customers have made through CarbonBetter-certified 100% clean energy, included in every Provision supply plan.

Each month, customers receive a personal impact email showing the difference their energy choice has made. Here, we celebrate the collective impact of all Provision customers since becoming CarbonBetter-certified in October 2020.

Provision customers make a positive impact just by using energy at home:

One renewable energy certificate (REC) equals 1 MWh of clean energy, and one carbon credit equals one ton of carbon offset. This keeps our impact clear, direct, and easy to understand.

• Clean energy: Electricity used is matched with 100% clean energy credits.
• Lower carbon: Natural gas emissions are fully offset with carbon credits.
• Plant trees: Trees are to be planted to absorb carbon as you use energy.

Provision customers help add more clean energy to the grid by supporting renewable power through clean energy credits (RECs). Provision carefully chooses projects, so the actions we take today help create a better future. Here are some of the projects Provision customers funded this year:

Rio Anapu–Pacajá REDD+ (Feb 2025): Protects 165,000+ ha of the Brazilian Amazon rainforest while improving livelihoods of nearby communities (land titles, clean cookstoves, schooling, jobs).

Mai Ndombe REDD+ (Mar 2025): Conserves ~300,000 ha of the Democratic Republic of Congo forest, protecting key wildlife like monkeys, elephants and wetlands, while also funding community services (schools, healthcare, training).

Uluabat Hydroelectric Power Plant (Apr 2025): 100 MW hydropower in Turkey cutting grid emissions and securing drinking water for Bursa plus irrigation for nearby farms.

People Powering Better Change 

Behind every milestone this year was something even more important: the people who made it possible.

As we look back on 2025, we want to pause and appreciate the moments that don't always show up in metrics; new faces joining the journey, familiar ones growing into new chapters, and reminders of how far we've come together.

Our Global Offices 

This year, our work continued to grow across our two home bases, each one carrying its own rhythm, culture, and energy, and each one shaping what we do.

Together, these offices are more than locations on a map. They're two expressions of the same mission. Two communities that learn from each other, push each other, and expand what we're capable of. Different cities, different accents, different coffee orders, but one team, moving in sync, building something bigger than either could alone.

A Growing Team

We welcomed 26 new teammates across departments, each bringing their own story into ours. Some joined to build new capabilities, some to deepen what we already do well, and all of them to help shape what comes next.  

Welcome to the team: 

Laura Aleman – Content & Marketing Specialist
Megan Bullock – Senior Accounting Analyst
Victor (Al) Bustamante – Sales Representative
Susana Cano – Director of Human Resources
Juan Cano – Business Operations Analyst
Sayali Chaudhari – Climate Analyst
Juan Chaves – Customer Care Representative
James Hadaway – Accounting Manager
Matthew Hendren – Director of Strategic Ventures
Cristian Herrera – Sales Representative
Laura Linares – Sales Support Associate
Cheene Palisoc – Senior Accounting Analyst
Pratham Rathi – Trading Analyst
Brian Robinson – Sales Representative
Mario Serrano – Sales Representative
Nicolas Silva – Credit & Risk Business Analyst
Joseph Smalec – Software Engineer Lead
Victor Valencia – Sales Representative
Oliver H. Jaskie – West Gas Trader
Adam B. Wing – Natural Gas Trader
Shaun Hendrickson – Natural Gas Trader
Vincent P. Flury – Senior Vice President
Siddharth S. Ayyagari – Trading Analyst
Susana Betancur Giraldo – Customer Care Representative
Maria Clara Marulanda – Climate Analyst
Daphne Commerford – Originator
Zach Mercado – Operations Analyst

Honoring Dedication and Purpose 

In a year marked by change, one thing stayed constant: the people who have been here building with care, year after year. Their loyalty and craft are part of the foundation we stand on.

In 2025, we celebrated 23 work anniversaries, representing over 77 years of dedication across CarbonBetter. Each anniversary reflects our team's commitment to showing up, growing, and helping the company become what it is today.

10 years: Scott Butler  
9 years: Juan Luna  
8 years: Azucena Dominguez 
7 years: Yesterdae Sedwick
6 years: Laura Alter & Sae Saito 
5 years: Daryl Witte
3 years: Misty Burkhalter, David Moorhouse & Rylan Springer 
2 years: Santiago Daroch, Efiom Edem, Michelle Ly & David Sosa 
1 year: Maria Giraldo, JC Hincapie, Santiago Posada, Trey Sexton, Johanna Soerbom, Shirley Tang, Pankaj Tanwar & Carolina Velez

The Moments That Make the Year 

Between deadlines and deliverables are the moments that actually shape a team. The laughter in the office, the celebrations, the quick get-togethers that turn coworkers into community.

This year gave us plenty of those: team celebrations, office events, and travel highlights that reminded us why we love doing hard things together. These are the memories that hold the year in place, the ones we'll still be talking about long after the calendar flips.

Thank You 2025 

As we close out 2025, we do so proud of what our team accomplished and even prouder of how we showed up along the way. We saw our people rise to challenges, push for real progress, and stay grounded in the work even when the path wasn't simple.

We grew our team, deepened our partnerships, expanded into new industries, and kept showing up for climate progress even when the world made it complicated. What matters most to us isn't only what we delivered, but how we delivered it: with integrity, collaboration, and the belief that meaningful change is still possible.

We're stepping into 2026 strengthened by what we've learned, grounded in the people and partners who walk with us, and ready to keep building a better future.