Milkywire’s Climate Transformation Fund has backed Planboo and Carboneers’ biochar project in Ghana through a pre-purchase agreement for carbon removal credits, helping to scale their biochar initiative. Selected from a pool of more than 280 global applications, the project is one of just 15 chosen for funding, demonstrating its potential as an effective and scalable method for removing carbon from the atmosphere.
Planboo and Carboneers partner with small-scale farmers in Ghana to convert farm waste, such as husks and stalks, into biochar—a charcoal-like substance that sequesters carbon. Unlike traditional burning, which releases greenhouse gases, their advanced kilns produce biochar with minimal emissions. When mixed into soil, biochar not only stores carbon but also enhances soil health, thereby helping improve farm productivity. Farmers earn extra income by supplying waste materials and producing biochar, turning what was once trash into a valuable resource.
To ensure accuracy, Planboo’s digital tracking platform measures the amount of carbon removed and stored, guaranteeing transparency for buyers like Milkywire.
Most carbon removal projects struggle to secure early funding because they’re seen as risky investments. Milkywire’s Climate Transformation Fund changes that by offering pre-purchase agreements, paying projects upfront for future carbon removal. Backed by companies like Klarna, Spotify, and Bolt, which charge themselves an internal carbon fee to fund climate action. By pooling donations, the fund supports high-quality, scientifically sound efforts that are challenging to finance through conventional means.
