The business is funded by Time initially but eventually plans to be self-sustaining through service fees. Executives declined to disclose the service fee percentage. So far, a dozen people have been hired by Time to work within the division.
"Our model is roughly a blend of 40% removal, 30% reduction, 20% protection of critical natural ecosystems and 10% innovation," said Shyla Raghav, head of portfolios & partnerships at CO2.com. For now, CO2 by Time will focus on enterprise clients, but Mulcahy said it aims to launch a consumer platform later.
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Sounds like another climate scam