Azora takes stake in Abatable in decarbonisation drive

Azora announced yesterday that it has acquired a strategic minority stake in Abatable, the London-based carbon procurement and market intelligence technology company that helps businesses connect and transact with carbon project developers to offset their carbon emissions.

Santiago Olivares, Managing Partner, Azora

The $13.5 million investment strengthens Azora’s position as a trusted value-add partner for companies with clear decarbonisation strategies for real assets. It will also accelerate Abatable’s growth strategy and fund the acquisition of Ecosphere+, a leading nature-based carbon credits procurement platform.

The combination of Abatable’s access to over 2,000 carbon project developers with Ecosphere+’s procurement expertise and extensive corporate buyer relationships will create one of the largest technology enabled carbon procurement platforms, the two companies said, able to reach and support a broader portfolio of corporate clients to achieve their net zero plans. 

“This investment will enhance Abatable’s ability to provide impactful decarbonisation strategies across a broader range of companies and industries,” said Santiago Olivares, managing partner, Azora. “Having long taken an integrated approach to sustainability and responsible investing, we remain committed to becoming a strategic partner of companies promoting decarbonisation solutions for real assets, where we can provide financial support and facilitate growth by leveraging our own expertise and opportunities across Azora’s portfolio and contact base.”

The investment represents Azora’s second deployment of its new strategy, supporting businesses that provide decarbonisation solutions for real assets, where it can also facilitate growth by leveraging its own portfolio and contact base in the real estate and energy sectors.

“We are thrilled to have the support of Azora as we accelerate our growth plans to support an increasing number of businesses taking climate action for their hard to abate emissions,” said Valerio Magliulo, co-founder, Abatable.

Abatable’s mission is to help companies tackle their hard-to-abate emissions by executing science-aligned carbon procurement programmes, delivering long-lasting and measurable environmental and social impact beyond their value chain.

“Ecosphere+ has pioneered best-in-class carbon procurement programs since 2016,” said Eugenia Filmanovic, co-founder, Abatable. “We’re excited to combine their access and expertise with our digital solutions to establish the largest tech-enabled carbon procurement platform.”