Welcome to the May Virtus newsletter!
If April showers bring May flowers, then consider this month’s bloom a signal – seeds planted in climate finance are beginning to take root. Some are promising and some precarious, but all are pushing us to rethink how growth should really look in our space.
On Untangling Climate Finance, Chris Slater of Oka dives into how insurance is quietly transforming carbon markets, by reducing risk and unlocking capital at speed.
In What We’re Absorbing, we track the shifting architecture of carbon markets, from satellite-powered credit ratings to Sir David Attenborough’s oceanic plea for restoration.
And in Climate Finance Deals, we round up major moves, from Microsoft’s biochar and ARR commitments to a landmark EU–UK emissions trading agreement.
This season’s growth reminds us that climate finance can blossom…but only if we keep tending to the roots of trust, transparency, and impact.
All the best,
Gordian Knot Strategies
We are Igniting Climate Solutions: Mobilizing $1 Billion Per Year in Impact Investment by 2030!
We are deeply honored to be named a finalist for the Responsible Business Leadership Award as part of the RestorLife Awards 2025. While we did not take home the top prize, being recognized among such a groundbreaking group of organizations is a true testament to our commitment at Gordian Knot Strategies. Restor’s mission — to empower those making a real difference in restoration and conservation — resonates deeply with us, and we are proud to stand alongside leaders dedicated to giving back more than they take. Thank you to Restor for this recognition, and congratulations to all the inspiring finalists and winners!
You can learn more about all the incredible finalists and winners here.
Client Served in the United States:
We have had the pleasure of working with a client throughout several engagements. In late 2022, we supported them in honing their strategy around market incentives for climate-smart agriculture, and supported the development of an integrated finance and markets strategy with pathways to build out their global climate-smart agriculture finance and markets work. In 2023, our client redoubled its efforts to advance agricultural practices, technologies, and systems that reduce climate pollution and build resilience. They engaged us again on the development of a strategy map to present a unified approach clearly articulating the strategic advantages, approach, and goals to inform on the needed tactics to ensure financial and market incentives supported farmers in overcoming barriers to change and appropriately valued the long-term benefits of climate-smart agriculture. We emphasized ensuring our client was well-positioned now and for where the market is likely to go in the coming years.
“Gordian Knot Strategies synthesized the views of many stakeholders, results of discussions and market sentiment to provide a succinct roadmap tailored to our capabilities.”
Dee Lawrence – Co-Founder & Director, High Tide Foundation
🎙️ In this episode, Chris Slater, the CEO and Founder of Oka, The Carbon Insurance Company, explores how insurance is transforming carbon markets and climate finance. He discusses Oka’s innovative risk-transfer products, the role of insurance in unlocking capital for project developers, and how de-risking carbon deals is accelerating climate solutions across the globe.
Click any of the links below to listen!
Below is a curated selection of standout opportunities brought to you by GKS’s valued clients.
ReSeed: Agriculture Carbon Credits
ReSeed partners with smallholder farmers globally, helping to improve livelihoods, protect vital lands, and ensure ecosystem services are properly recognized and rewarded. Through these efforts, ReSeed generates agricultural carbon credits that drive sustainability. Click here to explore their projects.
Savory Foundation: Carbon Removal Credits – Uruguay Grasslands Regeneration Project
The Savory Foundation along with the Savory Institute, Pampa Oriental, and Cultivo are now offering nature-based carbon removal credits from their Uruguay Grasslands Regeneration Project. This groundbreaking project spans 140,000 hectares across 166 privately held properties, employing Savory’s Holistic Management framework to restore grasslands while supporting local communities and ecosystems.
The project, under Verra’s VM0032 Methodology for Sustainable Grasslands, anticipates an annual issuance of around 152,000 credits, beginning in 2026, and addresses the UN’s Sustainable Development Goals – 8: Decent Work and Economic Growth, 13: Climate Action, 15: Life of Land, and 17: Partnership for the Goals.
To learn more about this project and its impact, click here.
If you want to connect about the project, email us here.
This month, we’re absorbing sharp shifts in carbon markets, bold moves in climate accountability, and a cinematic call to protect what sustains us.
✍️ “The Hidden State of the Voluntary Carbon Market” by Patch reveals a maturing carbon landscape defined by quality over quantity. As companies pivot toward high-integrity, lower-volume credits and multi-year offtake deals, the report uncovers emerging trends like market bifurcation, “greenhushing,” and the quiet reshaping of corporate climate strategy. It’s a vital snapshot of how climate ambition is evolving behind the scenes, even amid political turbulence.
🎙️ In a recent episode of the podcast Climate Rising – “Carbon Credit Ratings and Market Integrity: A Conversation on the Calyx Global Case” – Harvard Business School’s Mike Toffel hosted Calyx Global co-founder Duncan van Bergen to explore the evolving landscape of carbon credit ratings. The conversation digs into how Calyx is bringing greater transparency and accountability to the voluntary carbon market through independent assessments, satellite data, and AI. It’s a timely look at the delicate balance between credibility, innovation, and the commercial pressures shaping carbon finance.
🎥 “Ocean with David Attenborough” is a sweeping new documentary that combines awe-inspiring marine cinematography with an urgent call to action. Released globally to coincide with Attenborough’s 99th birthday, the film explores the ocean’s vital role in planetary stability and offers a rare message of hope: recovery is possible, if we act now. It’s a cinematic reminder that the sea’s future – and ours is still unwritten.
This month, climate finance is scaling up—with major deals pushing the boundaries of carbon removal, integrity, and market readiness. Click the titles for the full story.
Rubicon Carbon Enters into Agreement with Microsoft for Nature-based Carbon Removal Credits
Microsoft has entered a landmark agreement with Rubicon Carbon to purchase 18 million tonnes of nature-based carbon removal credits—one of the largest single-buyer commitments ever made in the voluntary carbon market. Structured as 15- to 20-year offtake agreements, the deal will support a global pipeline of high-quality afforestation, reforestation, and revegetation (ARR) projects. It reflects a growing trend of corporate buyers anchoring long-term climate finance, aiming to scale carbon removal infrastructure while ensuring scientific rigor and credit integrity through joint evaluation frameworks.
Microsoft has signed the world’s largest biochar carbon removal (BCR) agreement with Exomad Green, committing to remove at least 1.24 million tonnes of CO₂ over 10 years. The deal marks a major milestone in the durable carbon removals space, demonstrating biochar’s readiness for industrial-scale deployment. Anchored by Carbonfuture’s digital MRV system and strict biomass sustainability standards, the agreement sets a new benchmark for traceability, transparency, and long-term impact—while also delivering community co-benefits like improved soil health and reduced air pollution in Bolivia.
CO280 And JPMorgan Chase Sign New CDR Agreement Priced At Under $200p/t
CO280 has signed a 13-year agreement with JPMorgan Chase to deliver 450,000 tonnes of carbon dioxide removal at under $200 per tonne—one of the lowest-priced engineered CDR deals to date. The project will capture and permanently store biogenic CO₂ from a pulp and paper mill on the U.S. Gulf Coast, leveraging existing infrastructure, proven capture technology from SLB Capturi, and low-cost regional CO₂ storage. This deal highlights a scalable, cost-efficient model for industrial decarbonization and reflects growing buyer confidence in CO280’s approach to affordable, high-integrity carbon removal.
EU and UK Agree Landmark Deal Linking Emissions Trading Schemes
The UK and EU have agreed to link their Emissions Trading Schemes in a landmark deal that will save UK exporters an estimated £800 million annually in carbon border taxes. This alignment reduces trade friction, enhances carbon pricing consistency, and strengthens joint climate ambition, while also setting the stage for future cooperation on removals, international credits, and broader environmental standards.
Interested in connecting with us on climate finance, impact investment, climate solutions strategy, or carbon credit development and commercialization? Book a 30-minute conversation with Gordian Knot Strategies here to discuss how we can support your goals.
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