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S E P T E M B E R
N O N - C O N F I D E N T I A L
 Grasslands: a huge carbon sink
Climate-smart agriculture, soil enrichment, and conservation
are key pathways to utilizing one of our planet’s best assets

Permanence
Unlike forests, grasslands store most carbon belowground and
are significantly more resilient against drought and wildfires

Gigaton Potential
Soils alone sequester up to 5.5 Billion tons of carbon per year,
or approximately up to 20 Billion tones of carbon dioxide

Global Coverage
Grasslands cover roughly 40% of the planet’s surface, hold
20% of global soil carbon, and are home to a third of humanity

Kerlin 2017 (UC Davis), Bai et. al. 2022 (Science), USDA, FAO

01. GRASSLANDS Gazelle

 We need urgent climate action
Nature-based solutions (NBS) can deliver up to one-third of needed mitigations to meet 1.5°C targets

SSP4-6.0 data adapted from CICERO (only shows CO2), Griscom et. al. (2017)

02. C L I M A T E A C T I O N Gazelle
 Nature-based growth
Issuances from REDD+/grassland projects aren’t slowing down
OUTLOOK AT A GLANCE

$50B
market by 2030
Voluntary carbon markets hit $2 Billion in
2021 and are on track to grow up to $50
Billion by 2030 due to an increase in
investments and growth in projects

100x
demand by 2050
As the quality floor for credits rises in-line
with ICVCM standards and strict buy-side
criteria demand is expected to 100x by
2050. This is especially true for high-
quality credits with co-benefits

Gazelle 2023 NBS Landscape Survey Data, McKinsey

03. N B S G R O W T H Gazelle
 Building Quality Projects is Hard
2022 was an important year for VCM, which saw another $10B in investments with a 2% jump
in total supply, or 255Mt of carbon offsets generated globally. Growing pains have created
unique challenges for developers, particularly in the areas of establishing credible baselines,
tracking leakage, and additionality.

Baseline Setting

Accusations of "baseline-gaming" have undermined the credibility of REDD+ and ACOGS projects due to
discrepancies between established baselines and ex-post counterfactuals, calling into question the misuse of
synthetic controls and over-crediting.

Quantifying Leakage
A R E A S

The lack of reliable measures to quantify and track activity shifting has brought projects, particularly in the
areas of forests and SLM on grasslands, under increased scrutiny, jeopardizing GHG reduction claims due to
GHG emissions unaccounted for outside project boundaries (West et al. 2020).
C R I T I C A L

Proving Additionality

Workarounds in existing protocols, such as Verra's VT1 AFOLU tool (applicable to REDD+/ACOGS programs) to
opt out of financial analysis in place of barriers analysis have raised concerns over developers not taking basic
steps to prove additionality for nature-based projects.

Project Management

Maintaining project data, remotely sensed data, PDDs, MRV reports, VVB findings, and issuance records can be
challenging for developers, especially given the need for transparency beyond "listing pages" for buyers.
Fragmented tools for PM and GHG quantification make PM at scale a pain.
(Carbon Pulse, Investopedia, Gazelle NBS VCS Survey)

04. G R O W I N G P A I N S Gazelle
 Lack of transparency kills projects
Threatening to reverse decades of conservation efforts

Studies from researchers across public and private institutions have revealed alarming shortcomings of nature-based, particularly REDD+ projects. Although many projects have proven to
be high quality, an analysis of 40 VCS projects found baseline scenarios have been overstated by as much as 400% due to "baseline gaming" and the discrepancy between ex-post realities and
project deforestation rates on reference areas. Although the specific findings of these studies are up for debate, the findings are concerning. The backlash against SLM projects on
grasslands has resulted in harsh criticism environmental watchdogs, crackdowns from governments, and a general erosion in trust negatively impacting the entire VCM.

05. T R A N S P A R E N C Y Gazelle
 Carbon markets need centralized digital MRV
Existing Solutions are Fragmented Stunting Scalability Hub Unifies the Landscape
Most offerings on the market for VCM developers exist Barriers and roadblocks with the existing state of fragmented Our functionality stack bridges all of the critical
in silos. Although some platforms bridge components "solutions" for NBS developers stunt meaningful scalability and impact. origination pains under one's software ecosystem.
such as Project Management and Soil Insights (such as Beyond our existing phase one feature set, the hub's
Arva Intelligence), most lack the ability to integrate with VERTICALS infrastructure is built to act as a versatile tool to use
3rd party datasets, streamline PM for all stakeholder 3rd party environmental data and integrate with
levels, and perform automated MRV services. limited agronomic solutions.
Existing MRV Tools Agronomics
& PM Platforms
General farms
PM/Dashboard Tools
Wineries

Add another

Limited "MRV"
Hyper-regional focus and
Already fragmented solutions

BARRIERS
localized datasets limiting
exist in silos inside niche
TAM, feature set, and
industry foci (generally due to
practical value-adds for
Soil Health Focus carbon credit origination being
NBS carbon developers DATA HUB
an afterthought) limiting other
AFOLU use-cases

Agronomic Insights

Inability to integrate with 3rd
party tools, globalized (or regional
Baseline Analysis macro) datasets, or call APIs to
build on existing infrastructure
ROADBLOCKS
Developers are left with an array of
"solutions" priced at different points
resulting in a choice between expensive,
individual options (say $1/acre for MRV
on a large project) or internally doing
everything as-is

06. T R A N S P A R E N C Y Gazelle
 BUILDING TRANSPARENCY

Gazelle
DATA HUB
Seamlessly build and manage projects
with GHG forecasts, PDDs, and AI-
powered MRV generation at scale

07. G A Z E L L E H U B Gazelle
 Gazelle Hub is the end-to-end solution
Supporting developers, VVBs, and stakeholders throughout the full lifecycle of a project

01: PM DASHBOARD 02: AUTO MRV 03: AI POWERED

Manage Monitor Create

Centralized dashboard for developers
manage all aspects of origination. Control
share access to buyers, stakeholders,
proponents to access documents and
status updates.
to Run ML-based land-use/land-cover analysis on PAIs
and and adjacent areas to detect market or activity
and shifting leakage, assess dynamic baselines, and
live auto-generate MRV reports for VVBs. Establish
credibility and transparency along a projects
lifetime.
Create projects seamlessly from field and
remotely sensed data in seconds. Gazelle's
LLM generates PDDs and MRV report drafts in
seconds using PM/MRV data using a LLM
trained on data from hundreds of AFOLU
projects at all levels of the VCS process.

08. F E A T U R E S E T Gazelle
 Join the launch network
Our working group of project developers and stakeholders use early access to test, validate,
"As an emerging carbon project and provide feedback. Request to join the network and gain early access to the Gazelle Hub
developer, our biggest risk and time
spent lay in preparing and engaging in
validation and verification. 1ST ROUND PILOTS V1 RELEASE
Gazelle Hub creates a one stop shop for bringing
Gazelle
and engaging all stakeholders from site origination
to the generation of monitoring reports. By
leveraging the Hub's range of features from
integrated ensemble modelling to automated
project design document writing, we can save
significant time and money without sacrificing any
transparency or rigor. We're excited for our
ongoing collaboration with the Gazelle team and
look forward to piloting the Hub platform this year."

Kevin Silverman
Co-founder & Vice President of
Carbon Product at Kateri
Environmental Corp.

P A R T N E R S

AUG 23 SEP 23 OCT 23 NOV 23 DEC 23 JAN 24 FEB 24

09. L A U N C H Gazelle
 Meet the herd
Gazelle's leadership team is composed of experienced founders, engineers, and academics dedicated to building sustainable ecosystems and communities. Although grasslands
face serious conservation challenges, our team is optimistic about the future of tech-enabled land management and its role in catalyzing nature-based solutions at scale.

Amod Daherkar Siddharth Thakur Dr. Thoralf Meyer Mihir Bendre

Cofounder, CEO Cofounder, CTO Cofounder, Chief Scientist Cofounder, VP Science

Douglas Pham Grant Kitlowski Alex Marden PhD(c) Dr. Kelley Crews
VP Climate Finance VP Engineering Remote Sensing Scientist Lead Scientific Advisor

10. OUR TEAM Gazelle

N O N - C O N F I D E N T I A L

T E A M @ T H E G A Z E L L E . C O