Offset Portfolio: Running Tide
About Running Tide
Location: Iceland
Offset Type: Oceans
Running Tide is piloting an open-ocean kelp farming project using the natural metabolism of macroalgae to capture carbon into its biomass. Seaborn “microfarms” seeded with kelp are deployed from offshore vessels into the open ocean. When carried by currents, the kelp growth accumulates mass and captures dissolved ocean carbon. The assembly is rigged to sink after drifting for a 6-8 month growing season, when its trajectory takes it over deepwater ocean basins, and kelp carbon are sequestered on the ocean floor. Your purchase helps Running Tide assess and mitigate ecological impacts and innovate to scale up the solution.
Why Oceans?
Oceans have an awesome potential to store carbon, and if tended to responsibly, innovative ocean-based approaches can address global CO2 concentrations as well as ocean acidification.
Carbon Offset Evaluation
We picked Running Tide because of their deep experience in the fishing industry and marine aquaculture, and believe they can tap into the unique potential of the oceans to address climate change. Running Tide approaches their work with humility and curiosity, which is critical when attending to fragile ocean ecosystems. They are approaching their next phase of development, learning how to responsibly scale this climate solution, and have shown a genuine desire to partner with local fishing communities in the process.
The Commons community is supporting projects deployed in the ocean near Iceland.
Read our full evaluation for more details →
Commons' Community Impact
The Commons community started supporting Running Tide in 2021. Our first purchase will support delivery of permanent carbon removal in 2023 and 2024, providing Running Tide necessary capital to demonstrate the effectiveness of an ocean-based carbon sequestration approach. We are excited to support the Running Tide team to attempt large-scale kelp deployments in the deep ocean, an approach that has never been tried.
Furthermore, we are excited to support Running Tide because of its commitment to rewilding critical coastal ecosystems -- including shellfish beds, kelp forests, and seagrass meadows -- and to supporting thriving coastal communities through sustainable oyster farming.
To protect and better understand the ocean environment, Running Tide pledges 2% of company revenue to support marine research.
Commons' Offset Portfolio
Supporting carbon offsets can be a powerful way to invest in green technologies and protect natural ecosystems. But they aren’t a silver bullet – each project has a unique set of risks.
With the Commons Offset Portfolio, we do the work to maximize your impact. Just as you wouldn’t put all your money into one stock – we don’t put all your dollars into a single offset project.
