Agreement between DevvStream and Global Green establishes a Carbon Program in the United States to help local and federal government organizations, corporations, and academic institutions execute their climate plans through carbon markets.
Vancouver, British Columbia–(January 17, 2023) – DevvStream Holdings Inc. (NEO:DESG) (“DevvStream” or the “Company“), a leading carbon credit investment firm specializing in technology solutions, and Global Green, the American affiliate of Green Cross International (GCI), a global non-governmental organization founded by President Mikhail Gorbachev in 1993, are pleased to announce the launch of a U.S. Carbon Program (the “Program“). The Program is designed to introduce advanced emissions-reducing technologies to Global Green’s extensive network of local and federal government organizations, Fortune 100 companies, academic institutions, and private foundations, while providing funding for sustainability initiatives, programs and projects through the use of carbon offset credits.
Carbon market investments have become a vital component of forward-thinking climate plans for both the public and private sector. The global voluntary carbon market was valued at ~US $2B, in 2021 and is expected to grow 50x by 20301, while the compliance market grew from $305B in 2020 to $806B in 2021. Carbon credits created via nature-based solutions (e.g., tree planting, agricultural projects, forestry protection) can only provide up to 20% of carbon emission reductions necessary to meet the world’s goals, while the other 80% will need to come from technology-based solutions2 (e.g., carbon removal, artificial carbon sequestration, and the replacement of current inefficient technologies). As such, the Program relies exclusively on the generation of technology-based carbon credits, leveraging DevvStream’s expertise in compliance and voluntary markets, its advanced blockchain-based digital asset platform, and its curated ecosystem of technology partners.
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“Federal and local governments, organizations in the private sector, and educational institutions can now leverage the financial power of global carbon markets as they work with Global Green to achieve their broader sustainability goals,” said Sunny Trinh, CEO of DevvStream. “Our partnership with Global Green broadens our reach, while providing our affiliate network with new deployment opportunities for their world-changing technologies.”
“As the CEO of Global Green and the hopes for a brighter and greener future, I am thrilled to announce our partnership with DevvStream-a leading carbon credit investment firm specializing in technology solutions,” said William Bridge, CEO of Global Green. “With the climate crisis at its breaking point and the need for a crucial and profound impact to change the direction in which it’s heading, partnering with DevvStream, who provides upfront capital for organizations such as ours in exchange for carbon credit rights, this couldn’t be more exciting. As a non-profit organization approaching our 30-year anniversary, Global Green are honored to be partnering with a groundbreaking organization like DevvStream, and we look forward to our future collaboration.”
Global Green is the American affiliate of Green Cross International (GCI), an international non- governmental organization founded by President Gorbachev in 1993 to foster a global value shift toward a sustainable and secure future. Green Cross International operates in over 30 countries and enjoys consultative status with the United Nations Economic and Social Council, and United Nations Educational, Scientific and Cultural Organization. GCI is an NGO, holding observer status with the United Nations Framework Convention on Climate Change and the Conference of the Parties to the UN Convention to Combat Desertification. It also cooperates directly with the UNEP/OCHA Environmental Emergencies Section, UN-HABITAT and other international organizations.
For nearly 30 years, Global Green has served as a recognized national leader in advancing smart solutions to climate change that improve lives and protect the planet. Programmatically, Global Green works to create green cities, neighborhoods, affordable housing, and schools to protect environmental health, improve livability, create sustainable communities, and support the planet’s natural systems. In service of its mission, Global Green has partnered with over 50 organizations including local and federal governments, Fortune 100 companies, academic institutions, international groups and private foundations. The Program will be an integral component of Global Green’s suite of offerings to its partners.
About Global Green
Global Green is the American affiliate of Green Cross International (GCI), an international non- governmental organization founded by President Gorbachev in 1993. For nearly 30 years, Global Green has served as a recognized national leader in advancing smart solutions to climate change that improve lives and protect the planet, with the mission to foster a global value shift toward a sustainable and secure future. Programmatically, Global Green works to create green cities, neighborhoods, affordable housing, and schools to protect environmental health, improve livability, create sustainable communities, and support the planet’s natural systems. In service of its mission, Global Green has partnered with over 50 organizations including local and federal governments, Fortune 100 companies, academic institutions, international groups and private foundations.
About DevvStream
DevvStream is a technology-based ESG company that advances the development and monetization of environmental assets, with an initial focus on carbon markets. We work with governments and corporations worldwide to achieve their sustainability goals through the implementation of curated green technology projects that generate renewable energy, improve energy efficiencies, eliminate or reduce emissions, and sequester carbon directly from the air-creating carbon credits in the process. This enables us to provide non-dilutive capital directly to our clients while empowering them with field-proven, technology-based solutions to improve their climate impact quickly and simply. To address common issues such as greenwashing and double-counting, all environmental assets created through our projects are managed via a proprietary blockchain-based ESG software platform, designed explicitly to ensure transparency and auditability, with full data provenance, which significantly increases asset value. DevvStream’s business model includes mutual collaboration and partnership with Devvio, a leading ESG-focused blockchain company, and United Cities North America, an affiliate of the United Nations with a focus on building sustainable and net-zero smart cities and communities. For more information about DevvStream, please visit www.devvstream.com.
On Behalf of the Board of Directors,
Sunny Trinh, CEO
For further information please contact:
Focus Communications
Tel: +1 647 689 6041
Email: info@fcir.ca
Disclaimer
This news release contains forward-looking statements, including statements that are not historical facts. All statements other than statements of historical fact included in this release are forward-looking statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, and which are described in the Company’s public filings available under its profile at www.sedar.com. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as required by Canadian securities laws.
Source List
1 Ecosystem Marketplace, Refinitiv, The Taskforce on Scaling Voluntary Carbon Markets
2 American University School of International Service, “Fact Sheet: Nature-Based Solutions to Climate Change”
SOURCE: DevvStream Inc.
Featured Image Depositphotos @ deeangelo
Disclosure:
1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.
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5) Market Jar, its affiliates and its respective directors, officers and employees (the “Market Jar Group”) hold two hundred fifty thousand shares of DevvESG Streaming, Inc., which were purchased in a private placement at a price of $0.06 per share in October of 2021, and 29,375 warrants which were purchased in a private placement at a price of $0.80 per warrant in January 2022. The Market Jar Group has not sold any shares prior to the Campaign. The Market Jar Group will not buy or sell any of the shares it owns of the Company during the Campaign. The Market Jar Group has no intention to sell any of the shares it owns for a period of up to 90 days after completion of the Campaign. After such period, the Market Jar Group may elect to sell the shares it owns..
6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding DevvStream Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to DevvStream Inc.’s industry; (b) market opportunity; (c) DevvStream Inc.’s business plans and strategies; (d) services that DevvStream Inc. intends to offer; (e) DevvStream Inc.’s milestone projections and targets; (f) DevvStream Inc.’s expectations regarding receipt of approval for regulatory applications; (g) DevvStream Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) DevvStream Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute DevvStream Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) DevvStream Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) DevvStream Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) DevvStream Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of DevvStream Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) DevvStream Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact DevvStream Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing DevvStream Inc.’s business operations (e) DevvStream Inc. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, DevvStream Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does DevvStream Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither DevvStream Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of DevvStream Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of DevvStream Inc. or such entities and are not necessarily indicative of future performance of DevvStream Inc. or such entities.
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