Mark Chen's son expressed a desire for carbon credits instead of traditional Christmas gifts, prompting Chen to explore the complexities of the carbon market. Despite his background in solar energy, he found the market chaotic and opaque, realizing that many sustainability-focused companies, especially smaller ones, struggled to navigate it. This led him to launch Cnaught, aiming to simplify carbon credit purchases for small businesses. Chen argues that the carbon market is underutilized, as a significant number of companies remain unengaged despite having sustainability goals.
"I felt like I was a moderately well-versed consumer - surely other people out there were having this problem. I realized it was a market failure."
"There are literally more than a million companies in the United States with more than 20 employees. And yet, the number of listed carbon credit buyers in registries is numbered in like 7,000 or 8,000."
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