WOCAN is in partnership with DevvStream Holdings Inc. (“DevvStream” or the “Company”), a leading carbon credit project development and generation firm specializing in technology solutions, for project development and marketing of the W+ credits. The collaboration will drive sustainable and measurable change in key areas such as education, health, economic empowerment, and environmental stewardship.
Under the agreement, DevvStream aims to leverage its expertise in the investment into and co-development of carbon removal activities to finance the development of eligible projects, refer potential financiers to project owners, and provide both project development and commercialization services, in exchange for a portion of the resulting W+ credits. In turn, WOCAN will provide active guidance, technical expertise, and direct support in the development of eligible projects via its network of W+ Standard and gender experts. Two initial projects will employ the W+ Standard to generate W+ credits related to the provision of water services and biogas stoves to rural communities across three African nations.
“DevvStream is committed to promoting women’s empowerment globally,” said Sunny Trinh, CEO of DevvStream, “and part of that commitment is ensuring that our efforts yield clear and measurable results. That’s why the W+ Standard is so important—it adds scientific rigor to social impact work, ensuring that the resulting benefits are quantified and transparent. We are proud to work alongside WOCAN to fund women’s empowerment activities at the grassroots level while generating meaningful returns for project participants and investors via W+ credits. This enables us to both promote the values of equality and inclusivity while advancing projects that protect, restore, and ensure the sustainable use of nature.”
“WOCAN is very pleased to have DevvStream as a partner to leverage climate finance to provide the critical pre-financing for projects that can increase the quantity and quality of their gender and women’s empowerment activities, in ways that assure results in six areas measured by the W+ Standard: time saving, incomes/assets, health, education/knowledge, food security and leadership,” said Jeannette Gurung, Executive Director of WOCAN. “We expect this partnership to be a major step in WOCAN’s effort to scale transformational outcomes for women in projects promoting both environmental and social outcomes.”
About DevvStream
Founded in 2021, DevvStream is a technology-based sustainability company that advances the development and monetization of environmental assets, with an initial focus on carbon markets. DevvStream works with governments and corporations worldwide to achieve their sustainability goals through the implementation of curated green technology projects that generate renewable energy, improve energy efficiencies, eliminate or reduce emissions, and sequester carbon directly from the air—creating carbon credits in the process.
On September 13, 2023, DevvStream and Focus Impact Acquisition Corp. (Nasdaq: FIAC) announced that they have entered into a definitive Business Combination Agreement for a business combination that would result in the combined Company (DevvStream) to be listed on the Nasdaq Stock Market under the ticker symbol “DEVS”.