Klimate.co is owned and operated by:

Klimate ApS
Hauser Pl. 30a
1127 København K, Denmark

Company Number: DK-41057165

support@klimate.co

+ 45 41 71 84 29

Purchase of Carbon Removal Portfolios

Klimate is a platform built for companies to help them procure carbon removals. Klimate does not offer services to private individuals.

Portfolio Distribution & Projects

Klimate buys the removal of a net amount of kilograms of CO2 from the atmosphere on behalf of its clients through different removal projects and combines it into portfolios. Klimate offers various portfolios composed of different projects and therefore priced differently, and there is also the option for clients to create a customised portfolio. All portfolios are available in Klimate’s website, and clients can also get a direct proposal, which is not binding and should not be considered as legal or investment advice.

The projects included in each portfolio are subject to availability and therefore are updated on a quarterly basis. In the event that some projects are not available, Klimate will find a replacement that is as close as possible to the original project.

Price

The price for each portfolio is based on the projects from which Klimate is purchasing CO2 removal services and the distribution of these. When making an order, the client is committing to a price per ton, and a total volume of removal.

Payment

Payments through invoices are due within 30 (thirty) days of the invoice date, unless any other agreement has been made. The invoice is sent on the same day as the order is placed, or the delivery of right to credits is made.

Klimate Fee

Klimate charges a commission on all orders, which may vary based on the total contract value, types of projects and more. This fee is included in the prices that are listed on the klimate website.

Delivery

The client can create an order via the Klimate.co website. When an order is placed, it is the responsibility of the client to pay for said order.

Upon receiving the payment from the client, Klimate will begin the process of contracting the carbon removal as specified in the order. If there are changes to the order, this may affect the distribution of the portfolio. Klimate may change the distribution of the included projects to match the price specified. The distribution will be made in order to maximise the Climate Impact of the portfolio. See Portfolio Distribution for more information.

Klimate reserves the right to spend up to 90 (ninety) days from payment is received to fulfil the delivery of the portfolio.

If Klimate is not able to deliver the portfolio within this specified time, Klimate is responsible for informing the client and to suggest a revised portfolio.

If the Client does not approve the revised portfolio, payment for any part of the portfolio which was not specified previously may be reimbursed.

Certificates and communication

When the portfolio is delivered, a certificate will be issued to the client, which can be verified online and includes links to all underlying purchase orders made by Klimate. This ensures full transparency for all parties involved.

At any time, you can login to your account and see your customer ID and validate your certificate.  If you want your legal name to be printed on your certificate, you need to give us an explicit consent and instruction hereof.

The delivery of a certificate will be processed as fast as possible, however no later than 100 days from the date in the order confirmation. Deviations from these terms shall be agreed upon in writing.

Certificates issued by Klimate can be used by clients when communicating their removal efforts. However, clients may need permission from specific suppliers to communicate they are using their services. For more information see “Supplier-specific terms and conditions”.

Term and Termination

For orders made via the Klimate platform that have been paid, termination is not possible.

Rights of Withdrawal

Clients are not entitled to rights of withdrawal, when purchasing Klimate’s services. This is due to the fact that Klimate buys the removal of the purchased kg of CO2 from the atmosphere every month (corresponding to purchase of individualised goods).

Rating of Carbon Removal Projects

Klimate is responsible for analysing all projects which we purchase CDR from. The projects are rated on more than 100 data-points, which are grouped into the following four categories: Climate Impact, Co-benefits, Integrity, and Outlook.

• Climate impact evaluates the impact a project has on mitigating climate change, including the additionally, effectiveness, permanence and timeliness of the carbon removal.
• Co-benefits relate to the externalities of the project. A project may either have positive or negative co-benefits, which are grouped by environmental and social aspects.
• Integrity relates to more technical aspects of the project such as accounting, verification, certification, and monitoring
• Outlook refers to the potential of the project/methodology, the risks involved, and the governance of the company behind the project.

Each score is summarised as a number from one to 100, where 100 is the highest available score.

Klimate will share aggregated scores with the client, based on The Portfolio.

Our projects & supplier partnerships

Klimate offers several different projects in its portfolios for CO2 removal through different methods by partnering with the companies owning these projects. These companies will be referred to as “Suppliers”

Partnerships

Klimate engages with several partners that offer CO2 calculation services. Klimate can recommend one or more partners to customers interested in getting their emissions calculated, but is not liable for the quality of the calculations being performed.

VAT, Tax and charges

Purchase of Klimate’s Carbon Removal is equivalent to CO2 credits in tax related circumstances. CO2 credits are not subject to VAT, but subject to VAT with reverse payment obligation. If the client purchases on behalf of a VAT registered company, it is the client’s duty to report VAT for this purchase to their local tax authority. Any other charges, taxes or tolls that may apply are charged in addition to the amount, subject to applicable local law. Additional charges or taxes are to be borne by the client.

Limitation of liability

The liability of either party is excluded for incidental, special, indirect or consequential losses or damages arising out of or in connection with Klimate’s Carbon Removal Services.

To the extent permitted by law, the liability of either party under or in connection with Klimate services, shall be limited to the Klimate’s service fee.

Validity, Applicable Law and Choice of Venue

The validity of these terms and conditions shall not be affected in case of invalidity or unenforceability of parts of these terms and conditions. These terms and conditions, and any order confirmations made with Klimate, shall be subject to Danish Law. If a dispute cannot be resolved, the Copenhagen City Courts, Denmark, shall have exclusive jurisdiction.

Restricted activities

Klimate reserve the right to refuse to work with organisations involved in the production, operation, trade or sale of any of the following: tobacco, gambling, firearms weapons, pornography, fossil fuels, mining, nuclear power or hazardous materials, prisons, animal products or services, volunteer placement to orphanages, illegal products or those subject to phase out, and industries at risk of human rights violations.

By accepting our Terms & Conditions, you are stating that the above does not apply to your organisation.

Furthermore, we require pre-approval by our board of directors to work with organisations involved in the production, operation, trade or sale of any of the following: alcohol, whole life insurance, tax advisory services, and payday, short term, or high interest lending.

Complaints

If the client as a user wants to complain about a purchase, they can contact Klimate at support@klimate.co. If it is not possible to find a solution, the client may send a complaint to:

Center for Klageløsning
Nævnenes Hus
Toldboden 2
8800 Viborg
https://naevneneshus.dk/

If the client resides in a different EU country than Denmark, complaints may be sent via the EU Commission’s online complaint portal here - http://ec.europa.eu/odr

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