- The strategic investment in Pangolin Associates will help scale the business to capitalise on the strong demand for climate change services.
- The investment follows Viridios Group’s AU$55 million series B round late last year where it announced its intention to fund strategic growth initiatives.
- Pangolin Associates consultancy services complement Viridios’s carbon credit origination, capital markets and asset management business focused on the Voluntary Carbon Market (VCM) and compliance markets around the world.
Sydney, Australia – 19 September 2023 – Viridios Group (“Viridios”) has acquired a majority stake in climate change consultancy, Pangolin Associates (“Pangolin”), for an undisclosed sum.
The investment comes following the Viridios series B funding round late last year which saw it raise AU$55 million, led by Roc Partners.
“Our investment in Pangolin is part of our ongoing strategy to deliver world leading carbon market services to businesses to help them meet and exceed their climate targets,” says Viridios Group CEO Eddie Listorti.
Pangolin’s climate change consulting services align with the Viridios carbon credit origination, capital markets and asset management businesses, which operate across the Voluntary Carbon Market (VCM) and compliance markets around the world.
“Pangolin complements our existing service offering and will allow us to help our clients to assess and track their emissions in accordance with a range of frameworks as they progress on their decarbonisation journeys,” Listorti says.
Pangolin works with organisations to help ensure they reduce environmental impacts and remain competitive in a decarbonising economy. Pangolin’s services include:
- Net-Zero Services.
- Science Based Targets.
- Lifecycle Assessments (LCAs).
- Climate Active carbon neutral certifications.
- Greenhouse Gas Assessments (Carbon Footprints).
- Embodied Carbon Services; and
- Carbon Offsetting Management and Advice.
According to Pangolin Associates Managing Director, Iain Smale: “Pangolin’s and Viridios’ services are wholly complementary – a natural pairing of two like-minded Australian-founded companies.”
“Building on our 13 years as a highly successful independent consultancy with a diverse and loyal client base, we look forward to continuing to grow our business and our well-respected Pangolin brand and our culture under the Viridios Group.”
The announcement comes as Viridios Carbon Markets Report reveals that while a majority of environmental and sustainability professions (69%) have an emissions reduction target, less than half (43%) have a formal net zero target.
“The research is clear, Australian businesses still have a long way to go if they are to achieve their net zero targets and services like those offered by Pangolin, will be vital,” says Listorti.
Viridios Group: Tom Godfrey | [email protected] | +61(0)419 313 101
Pangolin Associates: Iain Smale | [email protected] | +61 (0)439 801 700
Viridios Group is a global carbon credit origination, capital markets and asset management business focused on carbon markets, with a unique carbon credit SaaS pricing, valuation and project data platform. Its mission is to mobilise positive action towards net-zero and improve transparency in carbon markets to ensure the effective allocation of capital in carbon reduction projects.
Pangolin Associates Pty Ltd helps organisations reduce environmental impacts and remain competitive in a decarbonising economy. Pangolin’s services include Net-Zero Services, Science Based Targets, Lifecycle Assessments (LCAs), ESG, Climate Active certifications, Greenhouse Gas Assessments (Carbon Footprints), Embodied Carbon Services, and Carbon Offsetting Management and Advice. The company’s scientific team has comprehensive experience and the highest level of environmental accreditations. Pangolin Associates was the first in its sector to become Climate Active carbon neutral certified (Organisation and Services) and is a founding member of B Corp in Australia, a business member for 1% for the Planet, and a signatory of the UN Global Compact.