How we address climate change will define our generation
By recognising the extreme urgency of climate change and its challenges, Algebris aims to achieve carbon neutrality and has committed to offset all its emissions since inception through an operation of both reforestation and afforestation.
In 2020 the company launched the AlgeTrees project with a commitment to plant 1 million trees in the coming years. Between 2019 to 2022, 99,842 trees have been planted and in 2023, we aim to plant a further 85,000.
The AlgeTrees project is being carried out in cooperation with Hakuna Matata, the charity founded by Davide Serra, that has been operating in Tanzania since 2010, helping orphaned children through education and health programs.
The project is simple and easily scalable, entailing precise steps:
- assessing the emission Algebris is directly responsible for (offices, flights, garbage, recycled paper);
- translating CO2 into an equivalent number of trees by making assumptions on the trees’ absorption capacity over their life-cycle;
- planting trees that can contribute to the economic welfare of the local community, in line with the UN Sustainable Development Goals (SDGs);
- monitoring their growth on an ongoing basis and replenishing the stock in the event some perish.
Looking at future developments, Algebris and Hakuna Matata will endeavour to make the knowledge we have collectively accumulated in developing the AlgeTrees project available to anyone (firm or individual) who intends to take action against climate change.
Read more about the AlgeTrees project and Algebris’ Sustainability Commitment and download our full report.
On Earth, plants and Algebris’ commitment.
Davide Serra, Algebris’ Founder and CEO, interviews Professor Stefano Mancuso, global expert on biodiversity, for an insightful discussion on climate change and forestation.