Accelerating investments in global carbon markets

Providing high-impact, low-risk, trusted solutions to net-zero


We are a joint venture between two world-class businesses

Vertree is a new vehicle, bringing together deep project knowledge and world-leading sustainability expertise of SYSTEMIQ and the market-making and trading/risk management expertise of Hartree Partners.

Through our work we enable corporates, institutions, governments and institutional investors from around the world to accelerate and deliver ambitious climate commitments through nature-based solutions and guide them on their journey towards net-zero emissions.

our mission
Our mission is to support businesses and institutions mitigate their environmental impact through the use of carbon finance and drive the biggest positive climate, community and biodiversity impacts on the planet

Only high-integrity verified emission reductions from existing and new projects

Long-term price and delivery risk management mitigated by world-class commodity merchant

Projects with high community engagement, local support and significant co-benefits

Up-to-date project information from our local, on the ground partners

Our track record

10+ years

on the ground forest and landscape project experience

15+ years

experience in carbon markets

20+ years

commodity risk management experience

25+ years

extensive corporate and financial strategic advisory experience


Let us achieve our climate ambitions together.

We can mitigate the impact of global climate change together.


We work with world-leading partners to develop high quality climate compensation and neutralisation projects

If you are a project developer and would like to discuss an opportunity to develop projects together and benefit from climate finance, please get in touch.


From the knowledge centre


Unprecedented private sector finance deal to generate over $2bn to protect threatened forests, wildlife, and improve community livelihoods

Hartree Partners, Vertree founding partner,  and Wildlife Works sign landmark voluntary carbon market deal Over 20 new high-impact projects will…

  • Hartree Partners, Vertree founding partner,  and Wildlife Works sign landmark voluntary carbon market deal
  • Over 20 new high-impact projects will be implemented in collaboration with forest communities to protect threatened landscapes in Africa, Asia, and Latin America
  • Project portfolio to generate 20 million tonnes of Verified Emission Reductions (VERs) each year for the 30-year life of the projects

Hartree Partners and Wildlife Works announce a ground-breaking deal that will generate over $2bn of private sector investment to enable communities to protect biodiversity and forests at risk from deforestation.

13 million hectares of tropical forest, an area the size of Greece, is currently lost to deforestation every year. But, to keep the increase in global temperature below 1.5 degrees in line with the Paris Agreement, more than three quarters of deforestation must be stopped by 2030. Thousands of companies are addressing the climate emergency and, with voluntary carbon markets playing an increasingly prominent role, the demand for Verified Emissions Reductions (VERs) is forecast to outstrip supply.

Hartree Partners, a leading global energy and commodities trading company, and Wildlife Works, an innovative global conservation company, will help meet this surging demand by partnering to invest, develop, manage and market one of the world’s largest portfolios of avoided deforestation projects. Hartree’s investment is effective immediately, with the projects expected to begin delivering VERs by 2023.

The deal, which will increase the availability of high-quality, verified, avoided deforestation projects by approximately 40%, will reduce emissions from deforestation by 20 million tonnes each year and 600 million tonnes over the 30-year life of the projects – equivalent to taking 4.3 million cars off the road.

The partnership will develop more than 20 high-impact projects in collaboration with local communities to improve livelihoods while preserving and protecting forests and wildlife.

The ground-breaking deal was facilitated by Everland, the exclusive marketing partner of Wildlife Works. The portfolio will be marketed by Everland and Vertree.


Ariel Perez, Partner at Hartree Partners, said:

“The scientific community agrees that the world cannot keep the increase in global temperature below 1.5 degrees without significant support from global businesses. Hartree Partners is proud to be providing substantial long-term investment in nature-based solutions through this partnership.

“We’re delighted to be working with such experienced partners as Wildlife Works to ensure that these projects reduce emissions, protect highly threatened species, and enhance the wellbeing of thousands of people in these forest communities who hold the key to stopping deforestation.”

Mike Korchinsky, Founder and CEO of Wildlife Works, said:

“While those in the Global North continue to debate what they want from climate action, our partners in the Global South urgently need just and effective solutions now.

“With Hartree Partners’ financial backing and carbon market expertise, we can implement our just and inclusive climate, community, and biodiversity solutions in many more forest communities where they’re desperately needed.”


Wildlife Works’ proven approach addresses the drivers of deforestation in last-chance ecosystems while rewarding communities for protecting forests and biodiversity.

The portfolio of projects announced today will meet global best practice standards for nested projects under VERRA, including: the Voluntary Carbon Standard (VCS); the Climate, Community and Biodiversity (CCB) standard at the gold level; and the SD Vista standard to verify project contributions to the UN Sustainable Development Goals, and can make a significant contribution to host country Nationally Determined Contributions (NDC) under the Paris Agreement.


Gerald Prolman, CEO of Everland, said:

“Hartree’s financial commitment to Wildlife Works will help give forest governments, landowners, and communities long-term financial confidence as they consider valuing their standing forests under REDD+. The VERs will be offered to businesses as an essential tool they can use as part of their transition plan towards a low-carbon future.

“It is our hope that this partnership’s bold commitment to rapidly scale REDD+ projects will inspire more private sector action at the critical speed and magnitude that is so desperately needed.”


Carbon offsets – avoidance and removals

‘Stop the tap before mopping up’ Vertree is focused on nature-based solutions (NBS) as a key part of the fight…

‘Stop the tap before mopping up’

Vertree is focused on nature-based solutions (NBS) as a key part of the fight against catastrophic climate change. Carbon offsetting schemes provide critical finance to NBS projects. Among these, carbon offset projects that reduce emissions from deforestation and forest degradation in developing countries (REDD) provide the most immediate, tangible and sustainable climate impact available. Emission reductions from offset projects must be measurable, additional, and be as permanent as human intervention can guarantee. The focus of this note is to explore the increasing bias of carbon offset buyers for carbon removals over avoidance credits.

Avoidance credits are defined as certified emissions reductions from projects that reduce emissions compared with the most likely course of action – the baseline scenario. REDD+ projects reduce forestry loss and preserve the existing biomass and embedded carbon beyond historical trends. Other avoidance projects include renewable energy and carbon-capture from flue gases. In each, current emissions are reduced by improved alternatives, but existing CO2 is left untouched.

Removal credits are defined as emissions offset projects that adsorb additional CO2 back from the atmosphere in order to remove the greenhouse gas potential. This includes photosynthesis of all kinds, into timber, peat, seagrasses as well as engineered methods such as direct air capture and accelerated mineral weathering.

Global deforestation, at around 13 million hectares per year, makes up 8-12% of net emissions. As such it ranks 3rd after the USA in the country league tables. Preventing mature forestry loss, along with wider ecosystem destruction is therefore a priority for any climate strategy.

A tree stores very little carbon in the first 10 years of its life (figure 1). In any afforestation project, the bulk of the carbon captured is during the middle phase, from 15-40 years after planting to maturity, with early growth rates at a third of peak potential.

Cutting down a hectare of mature tropical forest releases an average of 629 tonnes of CO2 which will take more than a lifetime to regrow. Over the first 10 years of new planting the recapture is less than 80 tonnes CO2 per hectare.

The carbon budget (figure 2) shows that emissions must halve by 2026 to stay within 1.5 degrees of warming. This means that we do not have the time to continue emitting whilst we wait for new trees to grow and store carbon later. The atmospheric ‘pot’ will boil over in the interim.

The Oxford Principles for Net Zero Aligned Offsetting illustrate this point well (figure 3). Removals will be required, but avoidance is urgent today.

Trees grown for carbon capture – often fast growing, densely packed Sitka (spruce) or Eucalyptus (gum) trees are less favourable for wider forest benefits (apart from timber production). The recently released IPBES report argues strongly for tackling climate change and biodiversity loss together, and to this end REDD+ projects are increasingly focused on species conservation and habitat improvement. The CCB Gold framework provides certification of biodiversity co-benefits in voluntary offsets.

Vertree works with high-quality REDD+ projects with verified baselines and genuine emissions reductions. Our work helps preserve tropical rainforests alongside the wildlife and communities that live within them. These actions are critical to combat climate change today and over the next 10 years.

A premature focus just on removals, whilst well intentioned, means that immediate action to reduce forest emissions could be neglected at huge risk to the overall climate change pathway.



European Commission, REDD+ initiative 
2018 World Resources Institute, By the Numbers: The Value of Tropical Forests in the Climate Change Equation
Vertree, based on Journal of Environmental Management, Carbon in the Vegetation and Soils of Great Britain 1995 
2020 figures, World Resources Institute Global Forest Watch. Fored Pulse: The Latest on the World's Forests
IPCC quoted Brown et al. How Much Carbon Can Be Sequestered by Global Afforestation and Reforestation?
The Oxford Principles for Net Zero Aligned Carbon Offsetting
2021 The IPBES IPCC Co-Sponsored Workshop on Biodiversity and Climate Change
The Climate, Community and Biodiversity Alliance

Vertree's response to the G7 Summit in Carbis Bay, UK

All eyes have been on Carbis Bay for the last few days, as G7 leaders, alongside their counterparts from India,…

All eyes have been on Carbis Bay for the last few days, as G7 leaders, alongside their counterparts from India, South Korea, Australia and South Africa, met to discuss an unenviable programme of global challenges: COVID, the economic challenges from the pandemic, trade, security, values, and, of course, climate change.

The prominence of climate change discussions and commitments made in the communique are very welcome, and show that, on paper and in press conferences, the leaders of the world’s biggest economies understand what needs to be done.

We support, and are part of, the push to mobilise global capital markets, with governments committing to leverage different types of blended finance. The desire to establish a fair and efficient carbon pricing trajectory is also good news, but what it’ll mean in practice, especially with the volatility of carbon markets these last few months, is unclear – time will tell.

We are also encouraged by the commitments in the G7 Nature Compact to 2030 to increase finance for nature-based solutions through to 2025, as well as the push to ensure that nature is prominent in both policy and economic decision making.

This move, if followed through, chimes with our core belief that investment in nature is one simple step that all businesses and governments can take to achieve their climate ambitions. But the world must also learn lessons from history: endlessly throwing money at a problem is not always the answer. So, yes, mobilise finance and financiers, but demand from the outset that the values that must underpin these investments – integrity and transparency – are not sacrificed.

Vertree provides a vehicle for businesses to achieve many of these goals, through our ability to access capital markets, in our commitment to high integrity offsets and our ways of working. This latter point is encapsulated in what Taraneh Azad said when we launched:

“We created Vertree to provide nature-based solutions that the world can trust, with the highest possible standards of environmental and social integrity.

 Our ambition is to enable Vertree clients to trace funding all the way back to the forests and local communities that they’re investing in, ensuring Vertree projects are both transparent and impactful.”

Our optimism though, is tinged by a sense of Deja-vu. The $100 billion figure for climate assistance to developing nations looks like it will once again be a figure of speech. Despite nearly 25 mentions of finance in the Climate and Environment section of the communique, the document lacks detail on how it will be accessed or delivered.  Encouraging the World Bank Group and the other Multilateral Development Banks to do more to mobilise finance is promising, but again, what does this mean in practice?

As ever with these summits, the detail, actions, and rhetoric remain disconnected.

This is a time for action and not just words.

Where there is consensus, is that COP26 has taken on greater significance. All roads lead to Glasgow. We hope world leaders take the high road.


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