{"version":"1.0.0","segments":[{"speaker":"Brennan Spellacy","startTime":3.871,"endTime":5.821,"body":"Global investment"},{"speaker":"Brennan Spellacy","startTime":3.871,"endTime":5.821,"body":"in renewables is like something"},{"speaker":"Brennan Spellacy","startTime":5.821,"endTime":9.781,"body":"like three or 400 times that of"},{"speaker":"Brennan Spellacy","startTime":5.821,"endTime":9.781,"body":"any sort of carbon abatement."},{"speaker":"Brennan Spellacy","startTime":9.961,"endTime":12.571,"body":"We know that works, but we haven't"},{"speaker":"Brennan Spellacy","startTime":9.961,"endTime":12.571,"body":"really figured out what are those"},{"speaker":"Brennan Spellacy","startTime":12.576,"endTime":14.191,"body":"carbon abatement strategies at scale."},{"speaker":"Brennan Spellacy","startTime":14.196,"endTime":16.171,"body":"And that's going to be"},{"speaker":"Brennan Spellacy","startTime":14.196,"endTime":16.171,"body":"one fifth of the problem."},{"speaker":"Brennan Spellacy","startTime":16.621,"endTime":18.901,"body":"And so eventually it's gonna have"},{"speaker":"Brennan Spellacy","startTime":16.621,"endTime":18.901,"body":"to be one fifth of the investment."},{"speaker":"Brennan Spellacy","startTime":19.471,"endTime":21.58,"body":"So something for us to keep in"},{"speaker":"Brennan Spellacy","startTime":19.471,"endTime":21.58,"body":"mind and keep an eye out for"},{"speaker":"Tom Raftery","startTime":22.228,"endTime":24.148,"body":"Good morning,"},{"speaker":"Tom Raftery","startTime":22.228,"endTime":24.148,"body":"good afternoon, or good evening"},{"speaker":"Tom Raftery","startTime":24.148,"endTime":25.618,"body":"wherever you are in the world."},{"speaker":"Tom Raftery","startTime":25.888,"endTime":29.998,"body":"This is the Climate 21 podcast,"},{"speaker":"Tom Raftery","startTime":25.888,"endTime":29.998,"body":"the number one podcast, showcasing"},{"speaker":"Tom Raftery","startTime":29.998,"endTime":34.138,"body":"best practices in climate emissions"},{"speaker":"Tom Raftery","startTime":29.998,"endTime":34.138,"body":"reductions, and I'm your host global"},{"speaker":"Tom Raftery","startTime":34.138,"endTime":36.568,"body":"vice president for SAP, Tom Raftery."},{"speaker":"Tom Raftery","startTime":37.738,"endTime":41.908,"body":"Don't forget to subscribe to this"},{"speaker":"Tom Raftery","startTime":37.738,"endTime":41.908,"body":"podcast in your podcast app of choice,"},{"speaker":"Tom Raftery","startTime":42.028,"endTime":44.368,"body":"to be sure you don't miss any episodes."},{"speaker":"Tom Raftery","startTime":44.839,"endTime":45.319,"body":"Hi everyone."},{"speaker":"Tom Raftery","startTime":45.319,"endTime":47.149,"body":"Welcome to the climate 21 podcast."},{"speaker":"Tom Raftery","startTime":47.299,"endTime":51.199,"body":"My name is Tom Raftery with SAP"},{"speaker":"Tom Raftery","startTime":47.299,"endTime":51.199,"body":"and with me on the show today,"},{"speaker":"Tom Raftery","startTime":51.204,"endTime":53.029,"body":"I have my special guest Brennan."},{"speaker":"Tom Raftery","startTime":53.419,"endTime":54.829,"body":"Brennan, welcome to the podcast."},{"speaker":"Tom Raftery","startTime":54.834,"endTime":56.629,"body":"Would you like to introduce yourself?"},{"speaker":"Brennan Spellacy","startTime":57.859,"endTime":58.489,"body":"Absolutely."},{"speaker":"Brennan Spellacy","startTime":58.579,"endTime":60.199,"body":"Tom, thank you so much for having me."},{"speaker":"Brennan Spellacy","startTime":60.469,"endTime":61.039,"body":"Hello everyone."},{"speaker":"Brennan Spellacy","startTime":61.099,"endTime":62.339,"body":"My name is Brennan Spellacy."},{"speaker":"Brennan Spellacy","startTime":62.389,"endTime":64.959,"body":"I'm the co-founder and CEO"},{"speaker":"Brennan Spellacy","startTime":62.389,"endTime":64.959,"body":"of a company called Patch."},{"speaker":"Tom Raftery","startTime":65.809,"endTime":66.199,"body":"Oh, okay."},{"speaker":"Tom Raftery","startTime":66.349,"endTime":67.369,"body":"And what is Patch?"},{"speaker":"Brennan Spellacy","startTime":68.829,"endTime":70.279,"body":"Patch"},{"speaker":"Brennan Spellacy","startTime":68.829,"endTime":70.279,"body":"is a software company."},{"speaker":"Brennan Spellacy","startTime":70.279,"endTime":73.849,"body":"So we were founded about two and a"},{"speaker":"Brennan Spellacy","startTime":70.279,"endTime":73.849,"body":"half years ago, and we build technology"},{"speaker":"Brennan Spellacy","startTime":73.879,"endTime":78.649,"body":"that enables primarily organizations or"},{"speaker":"Brennan Spellacy","startTime":73.879,"endTime":78.649,"body":"companies to scale their climate programs."},{"speaker":"Brennan Spellacy","startTime":79.069,"endTime":79.969,"body":"So how do we do that?"},{"speaker":"Brennan Spellacy","startTime":80.389,"endTime":85.969,"body":"We partner with a really wide variety of"},{"speaker":"Brennan Spellacy","startTime":80.389,"endTime":85.969,"body":"what are called carbon removal developers."},{"speaker":"Brennan Spellacy","startTime":85.999,"endTime":90.019,"body":"These are organizations where they"},{"speaker":"Brennan Spellacy","startTime":85.999,"endTime":90.019,"body":"actually sequester and remove carbon"},{"speaker":"Brennan Spellacy","startTime":90.019,"endTime":94.939,"body":"dioxide sometimes from the ambient air"},{"speaker":"Brennan Spellacy","startTime":90.019,"endTime":94.939,"body":"sometimes from the broader carbon cycle"},{"speaker":"Brennan Spellacy","startTime":95.174,"endTime":100.154,"body":"with the intent to help organizations hit"},{"speaker":"Brennan Spellacy","startTime":95.174,"endTime":100.154,"body":"what are called a net zero commitment."},{"speaker":"Brennan Spellacy","startTime":100.784,"endTime":103.841,"body":"So for those who are unfamiliar a net"},{"speaker":"Brennan Spellacy","startTime":100.784,"endTime":103.841,"body":"zero commitment is essentially this"},{"speaker":"Brennan Spellacy","startTime":103.841,"endTime":108.641,"body":"idea of how do you have net zero climate"},{"speaker":"Brennan Spellacy","startTime":103.841,"endTime":108.641,"body":"impact on the planet, which typically"},{"speaker":"Brennan Spellacy","startTime":108.641,"endTime":112.991,"body":"involves some amount of decarbonization"},{"speaker":"Brennan Spellacy","startTime":108.641,"endTime":112.991,"body":"and some amount of carbon removal."},{"speaker":"Brennan Spellacy","startTime":113.331,"endTime":116.711,"body":"Decarbonization is all about preventing"},{"speaker":"Brennan Spellacy","startTime":113.331,"endTime":116.711,"body":"the pollution and carbon removal"},{"speaker":"Brennan Spellacy","startTime":116.711,"endTime":119.651,"body":"is all about undoing pollution"},{"speaker":"Brennan Spellacy","startTime":116.711,"endTime":119.651,"body":"that has already taken place."},{"speaker":"Brennan Spellacy","startTime":120.056,"endTime":123.626,"body":"Patch focuses on making that carbon"},{"speaker":"Brennan Spellacy","startTime":120.056,"endTime":123.626,"body":"removal element incredibly easy by"},{"speaker":"Brennan Spellacy","startTime":123.626,"endTime":127.166,"body":"building software, both for the sellers"},{"speaker":"Brennan Spellacy","startTime":123.626,"endTime":127.166,"body":"of the carbon removal, as well as"},{"speaker":"Brennan Spellacy","startTime":127.166,"endTime":128.486,"body":"the buyers of the carbon removal."},{"speaker":"Tom Raftery","startTime":129.416,"endTime":129.746,"body":"Okay."},{"speaker":"Tom Raftery","startTime":129.746,"endTime":132.186,"body":"So you're like a"},{"speaker":"Tom Raftery","startTime":129.746,"endTime":132.186,"body":"marketplace in the middle."},{"speaker":"Tom Raftery","startTime":132.741,"endTime":137.781,"body":"And people who have some technology"},{"speaker":"Tom Raftery","startTime":132.741,"endTime":137.781,"body":"to remove carbon can go to you and"},{"speaker":"Tom Raftery","startTime":137.781,"endTime":142.411,"body":"you'll sell it for them and people"},{"speaker":"Tom Raftery","startTime":137.781,"endTime":142.411,"body":"who want to remove carbon, go to you"},{"speaker":"Tom Raftery","startTime":142.531,"endTime":143.881,"body":"and they can purchase how to do that."},{"speaker":"Brennan Spellacy","startTime":145.096,"endTime":145.726,"body":"That's exactly right."},{"speaker":"Brennan Spellacy","startTime":146.026,"endTime":146.476,"body":"That's exactly."},{"speaker":"Tom Raftery","startTime":146.851,"endTime":147.301,"body":"Okay."},{"speaker":"Tom Raftery","startTime":147.421,"endTime":147.751,"body":"Okay."},{"speaker":"Tom Raftery","startTime":148.071,"endTime":156.566,"body":"So it's the idea of offsets, now offsets"},{"speaker":"Tom Raftery","startTime":148.071,"endTime":156.566,"body":"have a kind of a very dubious, what's"},{"speaker":"Tom Raftery","startTime":156.566,"endTime":160.696,"body":"the word I'm looking for reputation, I"},{"speaker":"Tom Raftery","startTime":156.566,"endTime":160.696,"body":"guess, some do some don't there have been"},{"speaker":"Tom Raftery","startTime":160.696,"endTime":165.629,"body":"some that  have been shown to be complete"},{"speaker":"Tom Raftery","startTime":160.696,"endTime":165.629,"body":"greenwash and some which are not so bad."},{"speaker":"Tom Raftery","startTime":165.866,"endTime":171.892,"body":"So how do you go about in Patch"},{"speaker":"Tom Raftery","startTime":165.866,"endTime":171.892,"body":"verifying that the offsets that you"},{"speaker":"Tom Raftery","startTime":171.892,"endTime":174.652,"body":"guys are selling are not greenwash?"},{"speaker":"Brennan Spellacy","startTime":176.542,"endTime":177.802,"body":"Yeah,"},{"speaker":"Brennan Spellacy","startTime":176.542,"endTime":177.802,"body":"no, it's a great question."},{"speaker":"Brennan Spellacy","startTime":177.862,"endTime":183.562,"body":"So that really lends itself to what we"},{"speaker":"Brennan Spellacy","startTime":177.862,"endTime":183.562,"body":"think about as trust and safety at Patch."},{"speaker":"Brennan Spellacy","startTime":183.622,"endTime":188.362,"body":"So typically any marketplace, actually,"},{"speaker":"Brennan Spellacy","startTime":183.622,"endTime":188.362,"body":"whether that's Airbnb, Uber has this"},{"speaker":"Brennan Spellacy","startTime":188.362,"endTime":192.442,"body":"concept of trust and safety, which"},{"speaker":"Brennan Spellacy","startTime":188.362,"endTime":192.442,"body":"is we're essentially an enabler to"},{"speaker":"Brennan Spellacy","startTime":192.442,"endTime":194.032,"body":"bring buyers and sellers together."},{"speaker":"Brennan Spellacy","startTime":194.032,"endTime":198.367,"body":"So we wouldn't actually even say that"},{"speaker":"Brennan Spellacy","startTime":194.032,"endTime":198.367,"body":"we're selling the carbon credits on"},{"speaker":"Brennan Spellacy","startTime":198.367,"endTime":201.997,"body":"behalf of the supplier, we're just"},{"speaker":"Brennan Spellacy","startTime":198.367,"endTime":201.997,"body":"making it easier for them to sell."},{"speaker":"Brennan Spellacy","startTime":202.447,"endTime":206.707,"body":"And that nuance is important because if"},{"speaker":"Brennan Spellacy","startTime":202.447,"endTime":206.707,"body":"we're buying and then reselling, we might"},{"speaker":"Brennan Spellacy","startTime":206.712,"endTime":211.537,"body":"be viewed as more of like a retailer or a"},{"speaker":"Brennan Spellacy","startTime":206.712,"endTime":211.537,"body":"broker versus an actual marketplace where"},{"speaker":"Brennan Spellacy","startTime":211.537,"endTime":213.817,"body":"you don't actually take on inventory risk."},{"speaker":"Brennan Spellacy","startTime":213.817,"endTime":216.487,"body":"You're just providing these systems"},{"speaker":"Brennan Spellacy","startTime":213.817,"endTime":216.487,"body":"that make it easier to get access."},{"speaker":"Brennan Spellacy","startTime":216.937,"endTime":221.077,"body":"That being said, if people are"},{"speaker":"Brennan Spellacy","startTime":216.937,"endTime":221.077,"body":"playing in our arena, if you"},{"speaker":"Brennan Spellacy","startTime":221.082,"endTime":223.832,"body":"will, in our marketplace, there"},{"speaker":"Brennan Spellacy","startTime":221.082,"endTime":223.832,"body":"has to be a series of rules."},{"speaker":"Brennan Spellacy","startTime":223.992,"endTime":226.282,"body":"In order to make sure you can"},{"speaker":"Brennan Spellacy","startTime":223.992,"endTime":226.282,"body":"continue to play in that arena."},{"speaker":"Brennan Spellacy","startTime":226.792,"endTime":229.552,"body":"And that's where the trust and"},{"speaker":"Brennan Spellacy","startTime":226.792,"endTime":229.552,"body":"safety elements come into play."},{"speaker":"Brennan Spellacy","startTime":229.942,"endTime":233.932,"body":"So what Patch does specifically is"},{"speaker":"Brennan Spellacy","startTime":229.942,"endTime":233.932,"body":"we really make sure any information"},{"speaker":"Brennan Spellacy","startTime":233.932,"endTime":236.212,"body":"that's put into the Patch platform."},{"speaker":"Brennan Spellacy","startTime":236.272,"endTime":239.722,"body":"So that's a claim around the"},{"speaker":"Brennan Spellacy","startTime":236.272,"endTime":239.722,"body":"mechanism of the carbon credit."},{"speaker":"Brennan Spellacy","startTime":240.022,"endTime":242.632,"body":"Is it a removal credit, or"},{"speaker":"Brennan Spellacy","startTime":240.022,"endTime":242.632,"body":"is it an avoidance credit?"},{"speaker":"Brennan Spellacy","startTime":242.872,"endTime":246.952,"body":"What's called additionality or permanence"},{"speaker":"Brennan Spellacy","startTime":242.872,"endTime":246.952,"body":"of the credit, which is actually the idea"},{"speaker":"Brennan Spellacy","startTime":246.952,"endTime":250.882,"body":"of without this money, would this positive"},{"speaker":"Brennan Spellacy","startTime":246.952,"endTime":250.882,"body":"environmental benefit have happened."},{"speaker":"Brennan Spellacy","startTime":250.972,"endTime":255.007,"body":"And the permanence is all about once"},{"speaker":"Brennan Spellacy","startTime":250.972,"endTime":255.007,"body":"the benefit happens, how long does it"},{"speaker":"Brennan Spellacy","startTime":255.007,"endTime":258.967,"body":"last for, does it last for 10 years,"},{"speaker":"Brennan Spellacy","startTime":255.007,"endTime":258.967,"body":"a hundred years, a thousand years, if"},{"speaker":"Brennan Spellacy","startTime":258.967,"endTime":262.807,"body":"that information is put into Patch,"},{"speaker":"Brennan Spellacy","startTime":258.967,"endTime":262.807,"body":"we're guaranteeing that information"},{"speaker":"Brennan Spellacy","startTime":263.227,"endTime":267.577,"body":"where a supplier is actually signing"},{"speaker":"Brennan Spellacy","startTime":263.227,"endTime":267.577,"body":"up when they go through our KYC process"},{"speaker":"Brennan Spellacy","startTime":267.577,"endTime":272.797,"body":"or know your client process to say this"},{"speaker":"Brennan Spellacy","startTime":267.577,"endTime":272.797,"body":"information I'm giving to is true and"},{"speaker":"Brennan Spellacy","startTime":272.797,"endTime":277.622,"body":"if it ever becomes untrue, whether by"},{"speaker":"Brennan Spellacy","startTime":272.797,"endTime":277.622,"body":"accident or intentionally Patch has the"},{"speaker":"Brennan Spellacy","startTime":277.622,"endTime":281.462,"body":"ability to actually withhold payment"},{"speaker":"Brennan Spellacy","startTime":277.622,"endTime":281.462,"body":"and give the buyer recourse on how to"},{"speaker":"Brennan Spellacy","startTime":281.732,"endTime":284.042,"body":"reallocate their funding, their funds."},{"speaker":"Brennan Spellacy","startTime":284.702,"endTime":288.672,"body":"So that's kind of how Patch regulates that"},{"speaker":"Brennan Spellacy","startTime":284.702,"endTime":288.672,"body":"participation within, the marketplace."},{"speaker":"Brennan Spellacy","startTime":288.882,"endTime":292.242,"body":"There's this other idea of quality"},{"speaker":"Brennan Spellacy","startTime":288.882,"endTime":292.242,"body":"though, which is in quality typically"},{"speaker":"Brennan Spellacy","startTime":292.242,"endTime":295.392,"body":"refers to, okay, we might have a"},{"speaker":"Brennan Spellacy","startTime":292.242,"endTime":295.392,"body":"credit with a hundred year permanence"},{"speaker":"Brennan Spellacy","startTime":295.452,"endTime":298.152,"body":"and we might have another credit"},{"speaker":"Brennan Spellacy","startTime":295.452,"endTime":298.152,"body":"with a thousand year permanence."},{"speaker":"Brennan Spellacy","startTime":298.482,"endTime":299.592,"body":"Which one should I buy?"},{"speaker":"Brennan Spellacy","startTime":300.312,"endTime":302.312,"body":"That Patch is not play an active role in."},{"speaker":"Brennan Spellacy","startTime":302.642,"endTime":306.852,"body":"The individuals at Patch might have a"},{"speaker":"Brennan Spellacy","startTime":302.642,"endTime":306.852,"body":"perspective on which one you should buy,"},{"speaker":"Brennan Spellacy","startTime":307.152,"endTime":311.322,"body":"but Patch is a product in a business,"},{"speaker":"Brennan Spellacy","startTime":307.152,"endTime":311.322,"body":"we attempt to not influence what"},{"speaker":"Brennan Spellacy","startTime":311.322,"endTime":314.202,"body":"people buy, but rather make sure people"},{"speaker":"Brennan Spellacy","startTime":311.322,"endTime":314.202,"body":"are educated on what they're buying."},{"speaker":"Brennan Spellacy","startTime":314.682,"endTime":317.982,"body":"And the primary reason for that is"},{"speaker":"Brennan Spellacy","startTime":314.682,"endTime":317.982,"body":"actually coming down to a potential"},{"speaker":"Brennan Spellacy","startTime":317.982,"endTime":320.142,"body":"conflict of interest at scale."},{"speaker":"Brennan Spellacy","startTime":320.502,"endTime":324.732,"body":"And the idea is, imagine a world"},{"speaker":"Brennan Spellacy","startTime":320.502,"endTime":324.732,"body":"where a NASDAQ or some sort of equity"},{"speaker":"Brennan Spellacy","startTime":324.762,"endTime":328.212,"body":"or a securities exchange and credit"},{"speaker":"Brennan Spellacy","startTime":324.762,"endTime":328.212,"body":"rating agency was the same party."},{"speaker":"Brennan Spellacy","startTime":328.762,"endTime":328.902,"body":"Right."},{"speaker":"Brennan Spellacy","startTime":328.902,"endTime":331.507,"body":"That'd be a massive problem because"},{"speaker":"Brennan Spellacy","startTime":328.902,"endTime":331.507,"body":"we make money off of throughput,"},{"speaker":"Brennan Spellacy","startTime":331.897,"endTime":335.107,"body":"we are incentivized to say,"},{"speaker":"Brennan Spellacy","startTime":331.897,"endTime":335.107,"body":"everything's great, right at scale."},{"speaker":"Brennan Spellacy","startTime":335.347,"endTime":336.967,"body":"And that is not necessarily true."},{"speaker":"Brennan Spellacy","startTime":336.997,"endTime":338.047,"body":"There's shades of gray."},{"speaker":"Brennan Spellacy","startTime":338.047,"endTime":340.657,"body":"There's kind of nuance in how"},{"speaker":"Brennan Spellacy","startTime":338.047,"endTime":340.657,"body":"carbon markets actually work."},{"speaker":"Brennan Spellacy","startTime":341.017,"endTime":344.107,"body":"And as a result, we have to make"},{"speaker":"Brennan Spellacy","startTime":341.017,"endTime":344.107,"body":"sure structurally the people"},{"speaker":"Brennan Spellacy","startTime":344.107,"endTime":345.577,"body":"deciding what gets bought."},{"speaker":"Brennan Spellacy","startTime":346.397,"endTime":348.947,"body":"It's not in the same organization"},{"speaker":"Brennan Spellacy","startTime":346.397,"endTime":348.947,"body":"as what's actually facilitating the"},{"speaker":"Brennan Spellacy","startTime":348.947,"endTime":350.207,"body":"buying, which is what Patch does."},{"speaker":"Brennan Spellacy","startTime":350.237,"endTime":353.177,"body":"And so we partner to kind of"},{"speaker":"Brennan Spellacy","startTime":350.237,"endTime":353.177,"body":"bring it back to the punchline."},{"speaker":"Brennan Spellacy","startTime":353.177,"endTime":358.232,"body":"Now we partner with a really wide variety"},{"speaker":"Brennan Spellacy","startTime":353.177,"endTime":358.232,"body":"both verification standards, as well"},{"speaker":"Brennan Spellacy","startTime":358.232,"endTime":361.172,"body":"as what are called these new emerging"},{"speaker":"Brennan Spellacy","startTime":358.232,"endTime":361.172,"body":"classifications of companies called"},{"speaker":"Brennan Spellacy","startTime":361.172,"endTime":365.132,"body":"credit rating agencies, where they're"},{"speaker":"Brennan Spellacy","startTime":361.172,"endTime":365.132,"body":"actually evaluating the underlying data"},{"speaker":"Brennan Spellacy","startTime":365.312,"endTime":367.262,"body":"and validation of the particular credit."},{"speaker":"Brennan Spellacy","startTime":367.622,"endTime":370.682,"body":"We take that data and present it"},{"speaker":"Brennan Spellacy","startTime":367.622,"endTime":370.682,"body":"in the platform, but we're not"},{"speaker":"Brennan Spellacy","startTime":370.682,"endTime":372.392,"body":"generating that content ourselves."},{"speaker":"Tom Raftery","startTime":373.517,"endTime":373.817,"body":"Okay."},{"speaker":"Tom Raftery","startTime":373.817,"endTime":378.167,"body":"And what kinds of carbon removal"},{"speaker":"Tom Raftery","startTime":373.817,"endTime":378.167,"body":"technologies are we talking about?"},{"speaker":"Tom Raftery","startTime":378.167,"endTime":379.817,"body":"Is it planting trees?"},{"speaker":"Tom Raftery","startTime":379.817,"endTime":382.487,"body":"I assume that would be kind"},{"speaker":"Tom Raftery","startTime":379.817,"endTime":382.487,"body":"of  the hundred year span"},{"speaker":"Tom Raftery","startTime":382.487,"endTime":383.417,"body":"that you're talking about."},{"speaker":"Tom Raftery","startTime":383.627,"endTime":387.626,"body":"Is it direct air capture, which"},{"speaker":"Tom Raftery","startTime":383.627,"endTime":387.626,"body":"would probably be the thousand year"},{"speaker":"Tom Raftery","startTime":387.836,"endTime":389.066,"body":"capture that you're talking about?"},{"speaker":"Tom Raftery","startTime":389.276,"endTime":390.476,"body":"Is it something else?"},{"speaker":"Tom Raftery","startTime":390.506,"endTime":391.646,"body":"Is it a combination?"},{"speaker":"Tom Raftery","startTime":391.997,"endTime":392.747,"body":"What are we talking about?"},{"speaker":"Brennan Spellacy","startTime":393.977,"endTime":394.817,"body":"Yeah,"},{"speaker":"Brennan Spellacy","startTime":393.977,"endTime":394.817,"body":"it's a great question."},{"speaker":"Brennan Spellacy","startTime":394.937,"endTime":398.957,"body":"So that's actually why people love Patch"},{"speaker":"Brennan Spellacy","startTime":394.937,"endTime":398.957,"body":"so much is how much breath we have."},{"speaker":"Brennan Spellacy","startTime":399.347,"endTime":403.407,"body":"So again, going back to the idea of Patch"},{"speaker":"Brennan Spellacy","startTime":399.347,"endTime":403.407,"body":"as a product is highly unopinionated."},{"speaker":"Brennan Spellacy","startTime":403.757,"endTime":406.857,"body":"The only opinion we hold really strongly"},{"speaker":"Brennan Spellacy","startTime":403.757,"endTime":406.857,"body":"is if you make a claim, it better be"},{"speaker":"Brennan Spellacy","startTime":406.857,"endTime":411.127,"body":"true and so as a result, you have things"},{"speaker":"Brennan Spellacy","startTime":406.857,"endTime":411.127,"body":"like direct air capture on the platform."},{"speaker":"Brennan Spellacy","startTime":411.127,"endTime":415.557,"body":"You have things like enhanced weathering,"},{"speaker":"Brennan Spellacy","startTime":411.127,"endTime":415.557,"body":"geological storage, reforestation and"},{"speaker":"Brennan Spellacy","startTime":415.557,"endTime":419.067,"body":"AOR station, all of these things on the"},{"speaker":"Brennan Spellacy","startTime":415.557,"endTime":419.067,"body":"platform, but you also have a series"},{"speaker":"Brennan Spellacy","startTime":419.067,"endTime":422.891,"body":"of emission abatement technologies or"},{"speaker":"Brennan Spellacy","startTime":419.067,"endTime":422.891,"body":"avoided emissions technologies, too."},{"speaker":"Brennan Spellacy","startTime":422.891,"endTime":424.451,"body":"Things like refrigerant destruction."},{"speaker":"Brennan Spellacy","startTime":424.481,"endTime":427.931,"body":"So chlorofluorocarbons have over"},{"speaker":"Brennan Spellacy","startTime":424.481,"endTime":427.931,"body":"300 times the global heating"},{"speaker":"Brennan Spellacy","startTime":427.931,"endTime":429.611,"body":"potential of carbon dioxide."},{"speaker":"Brennan Spellacy","startTime":429.971,"endTime":433.571,"body":"Those are, were basically every"},{"speaker":"Brennan Spellacy","startTime":429.971,"endTime":433.571,"body":"like fridge in the fifties,"},{"speaker":"Brennan Spellacy","startTime":433.571,"endTime":434.561,"body":"sixties, and seventies."},{"speaker":"Brennan Spellacy","startTime":434.591,"endTime":435.371,"body":"And now they're leaking."},{"speaker":"Brennan Spellacy","startTime":435.461,"endTime":437.311,"body":"How do you, and there's no"},{"speaker":"Brennan Spellacy","startTime":435.461,"endTime":437.311,"body":"current  at least in the United"},{"speaker":"Brennan Spellacy","startTime":437.311,"endTime":438.461,"body":"States in a lot of cases."},{"speaker":"Brennan Spellacy","startTime":438.946,"endTime":441.616,"body":"Some of that emission or refrigerant"},{"speaker":"Brennan Spellacy","startTime":438.946,"endTime":441.616,"body":"destruction or refrigerator"},{"speaker":"Brennan Spellacy","startTime":441.616,"endTime":443.056,"body":"emission is not regulated."},{"speaker":"Brennan Spellacy","startTime":443.296,"endTime":445.966,"body":"And so in some cases it actually"},{"speaker":"Brennan Spellacy","startTime":443.296,"endTime":445.966,"body":"makes sense to develop a project"},{"speaker":"Brennan Spellacy","startTime":445.966,"endTime":448.636,"body":"around capturing and destroying"},{"speaker":"Brennan Spellacy","startTime":445.966,"endTime":448.636,"body":"that refrigerant is actually being"},{"speaker":"Brennan Spellacy","startTime":448.636,"endTime":450.526,"body":"emitted very similar with methane."},{"speaker":"Brennan Spellacy","startTime":450.836,"endTime":454.136,"body":"The, at least again, in the United"},{"speaker":"Brennan Spellacy","startTime":450.836,"endTime":454.136,"body":"States, the EPA has been ratcheting down."},{"speaker":"Brennan Spellacy","startTime":454.286,"endTime":456.956,"body":"The amount of methane here at"},{"speaker":"Brennan Spellacy","startTime":454.286,"endTime":456.956,"body":"landfills, for example can emit."},{"speaker":"Brennan Spellacy","startTime":457.316,"endTime":461.566,"body":"But if you're beneath that cap,"},{"speaker":"Brennan Spellacy","startTime":457.316,"endTime":461.566,"body":"there's actually a Delta of emissions"},{"speaker":"Brennan Spellacy","startTime":461.566,"endTime":464.566,"body":"associated with  methane again,"},{"speaker":"Brennan Spellacy","startTime":461.566,"endTime":464.566,"body":"methane heats the earth about 25"},{"speaker":"Brennan Spellacy","startTime":464.566,"endTime":466.246,"body":"times as much as carbon dioxide does."},{"speaker":"Brennan Spellacy","startTime":467.116,"endTime":470.866,"body":"And so there's opportunities to capture"},{"speaker":"Brennan Spellacy","startTime":467.116,"endTime":470.866,"body":"and either flare or reuse that methane."},{"speaker":"Brennan Spellacy","startTime":471.106,"endTime":473.716,"body":"And so it's not just carbon removal."},{"speaker":"Brennan Spellacy","startTime":473.716,"endTime":476.626,"body":"It's also different forms of"},{"speaker":"Brennan Spellacy","startTime":473.716,"endTime":476.626,"body":"permanent abatement on the platform."},{"speaker":"Brennan Spellacy","startTime":476.806,"endTime":479.686,"body":"But the idea is how do you kinda keep"},{"speaker":"Brennan Spellacy","startTime":476.806,"endTime":479.686,"body":"all of the options to someone, help them"},{"speaker":"Brennan Spellacy","startTime":479.686,"endTime":482.476,"body":"educate themselves and then make the"},{"speaker":"Brennan Spellacy","startTime":479.686,"endTime":482.476,"body":"best decision for their organization."},{"speaker":"Tom Raftery","startTime":483.286,"endTime":483.706,"body":"Okay."},{"speaker":"Tom Raftery","startTime":483.949,"endTime":489.129,"body":"I've heard people refer to offsets"},{"speaker":"Tom Raftery","startTime":483.949,"endTime":489.129,"body":"as kind of like a parking ticket."},{"speaker":"Tom Raftery","startTime":489.869,"endTime":493.943,"body":"The analogy being that, if you have enough"},{"speaker":"Tom Raftery","startTime":489.869,"endTime":493.943,"body":"money, you can park illegally and just"},{"speaker":"Tom Raftery","startTime":494.543,"endTime":496.193,"body":"pay the parking ticket all the time."},{"speaker":"Tom Raftery","startTime":496.573,"endTime":501.593,"body":"Whereas people who don't have that"},{"speaker":"Tom Raftery","startTime":496.573,"endTime":501.593,"body":"much money have to park legally, how"},{"speaker":"Tom Raftery","startTime":501.593,"endTime":505.403,"body":"would you respond to that kind of an"},{"speaker":"Tom Raftery","startTime":501.593,"endTime":505.403,"body":"analogy it's just a slightly more of a"},{"speaker":"Tom Raftery","startTime":505.403,"endTime":507.273,"body":"tax to pay as a permission to pollute."},{"speaker":"Brennan Spellacy","startTime":508.893,"endTime":509.793,"body":"Yeah, totally."},{"speaker":"Brennan Spellacy","startTime":510.088,"endTime":511.923,"body":"So I, I think there's a"},{"speaker":"Brennan Spellacy","startTime":510.088,"endTime":511.923,"body":"couple elements there."},{"speaker":"Brennan Spellacy","startTime":511.923,"endTime":516.513,"body":"There's the idea of equity, the idea of,"},{"speaker":"Brennan Spellacy","startTime":511.923,"endTime":516.513,"body":"well, that basically is a license for the"},{"speaker":"Brennan Spellacy","startTime":517.503,"endTime":520.573,"body":"rich to pollute and less fortunate to not."},{"speaker":"Brennan Spellacy","startTime":520.603,"endTime":522.943,"body":"So it's kind of, there's that"},{"speaker":"Brennan Spellacy","startTime":520.603,"endTime":522.943,"body":"dynamic in that metaphor."},{"speaker":"Brennan Spellacy","startTime":523.303,"endTime":526.753,"body":"And it's also the idea of does this"},{"speaker":"Brennan Spellacy","startTime":523.303,"endTime":526.753,"body":"actually drive structural change or not."},{"speaker":"Brennan Spellacy","startTime":527.563,"endTime":527.863,"body":"Right."},{"speaker":"Brennan Spellacy","startTime":527.863,"endTime":529.543,"body":"And then that's kind of"},{"speaker":"Brennan Spellacy","startTime":527.863,"endTime":529.543,"body":"the second piece, right?"},{"speaker":"Brennan Spellacy","startTime":529.543,"endTime":533.563,"body":"If you're, you're always gonna park in"},{"speaker":"Brennan Spellacy","startTime":529.543,"endTime":533.563,"body":"the bus lane or whatever, and you can"},{"speaker":"Brennan Spellacy","startTime":533.563,"endTime":534.733,"body":"afford it, it doesn't really matter."},{"speaker":"Brennan Spellacy","startTime":534.733,"endTime":534.913,"body":"Right."},{"speaker":"Brennan Spellacy","startTime":534.993,"endTime":537.783,"body":"You don't care how long your"},{"speaker":"Brennan Spellacy","startTime":534.993,"endTime":537.783,"body":"fancy Teslas parked there."},{"speaker":"Brennan Spellacy","startTime":537.783,"endTime":538.983,"body":"You can park it there every single time."},{"speaker":"Brennan Spellacy","startTime":539.583,"endTime":541.833,"body":"Um, and so I think there was kinda"},{"speaker":"Brennan Spellacy","startTime":539.583,"endTime":541.833,"body":"two elements that I think in the"},{"speaker":"Brennan Spellacy","startTime":541.833,"endTime":546.403,"body":"first element, related to the equity"},{"speaker":"Brennan Spellacy","startTime":541.833,"endTime":546.403,"body":"piece, typically in most cases,"},{"speaker":"Brennan Spellacy","startTime":546.483,"endTime":550.383,"body":"the kind of where that metaphor"},{"speaker":"Brennan Spellacy","startTime":546.483,"endTime":550.383,"body":"actually breaks down a little bit is"},{"speaker":"Brennan Spellacy","startTime":551.553,"endTime":555.033,"body":"if you are a wealthy nation, you're"},{"speaker":"Brennan Spellacy","startTime":551.553,"endTime":555.033,"body":"typically the one that pollutes more."},{"speaker":"Brennan Spellacy","startTime":555.393,"endTime":558.873,"body":"So like, if you look at like emissions"},{"speaker":"Brennan Spellacy","startTime":555.393,"endTime":558.873,"body":"per capita and GDP per capita, they're"},{"speaker":"Brennan Spellacy","startTime":558.873,"endTime":561.093,"body":"pretty interrelated with one another."},{"speaker":"Brennan Spellacy","startTime":561.443,"endTime":563.993,"body":"You know, we're gonna see actually"},{"speaker":"Brennan Spellacy","startTime":561.443,"endTime":563.993,"body":"what happens when the US like really"},{"speaker":"Brennan Spellacy","startTime":564.023,"endTime":567.443,"body":"robustly decarbonizes, and then maybe"},{"speaker":"Brennan Spellacy","startTime":564.023,"endTime":567.443,"body":"some more like developing nations."},{"speaker":"Brennan Spellacy","startTime":567.448,"endTime":571.033,"body":"Are they gonna actually skip to renewables"},{"speaker":"Brennan Spellacy","startTime":567.448,"endTime":571.033,"body":"or are they gonna go through the kinda the"},{"speaker":"Brennan Spellacy","startTime":571.033,"endTime":573.283,"body":"fossil fuel trajectory that the US has."},{"speaker":"Brennan Spellacy","startTime":573.673,"endTime":579.443,"body":"And in that case, it's actually"},{"speaker":"Brennan Spellacy","startTime":573.673,"endTime":579.443,"body":"unclear, but historically the people"},{"speaker":"Brennan Spellacy","startTime":579.443,"endTime":583.613,"body":"who have polluted the most are also the"},{"speaker":"Brennan Spellacy","startTime":579.443,"endTime":583.613,"body":"wealthiest nations and it's not so much."},{"speaker":"Brennan Spellacy","startTime":583.673,"endTime":586.463,"body":"And in that case, they"},{"speaker":"Brennan Spellacy","startTime":583.673,"endTime":586.463,"body":"actually have the ability to"},{"speaker":"Brennan Spellacy","startTime":586.763,"endTime":588.503,"body":"overcompensate in a lot of cases."},{"speaker":"Brennan Spellacy","startTime":588.503,"endTime":590.363,"body":"So that's kind of the narrative"},{"speaker":"Brennan Spellacy","startTime":588.503,"endTime":590.363,"body":"that we typically have"},{"speaker":"Brennan Spellacy","startTime":590.363,"endTime":593.403,"body":"internally, which is historically,"},{"speaker":"Brennan Spellacy","startTime":590.363,"endTime":593.403,"body":"there's been this inequality."},{"speaker":"Brennan Spellacy","startTime":594.313,"endTime":598.658,"body":"The global north for the most part has"},{"speaker":"Brennan Spellacy","startTime":594.313,"endTime":598.658,"body":"created the lion's share of the pollution."},{"speaker":"Brennan Spellacy","startTime":598.928,"endTime":602.858,"body":"And so we personally believe, or we"},{"speaker":"Brennan Spellacy","startTime":598.928,"endTime":602.858,"body":"typically believe that they're kind"},{"speaker":"Brennan Spellacy","startTime":602.858,"endTime":606.218,"body":"of on the hook to do a lot of the"},{"speaker":"Brennan Spellacy","startTime":602.858,"endTime":606.218,"body":"damage that's undone, especially"},{"speaker":"Brennan Spellacy","startTime":606.218,"endTime":610.568,"body":"when you consider the positive, other"},{"speaker":"Brennan Spellacy","startTime":606.218,"endTime":610.568,"body":"positive kinda societal benefits of"},{"speaker":"Brennan Spellacy","startTime":610.958,"endTime":612.848,"body":"increasing energy consumption, right?"},{"speaker":"Brennan Spellacy","startTime":612.908,"endTime":616.088,"body":"Things like education, go up and"},{"speaker":"Brennan Spellacy","startTime":612.908,"endTime":616.088,"body":"for mortality to go down when"},{"speaker":"Brennan Spellacy","startTime":616.088,"endTime":618.518,"body":"you consume a lot more energy"},{"speaker":"Brennan Spellacy","startTime":616.088,"endTime":618.518,"body":"and produce a lot more GDP."},{"speaker":"Brennan Spellacy","startTime":618.728,"endTime":621.278,"body":"I don't see any reason why"},{"speaker":"Brennan Spellacy","startTime":618.728,"endTime":621.278,"body":"the global south can't benefit"},{"speaker":"Brennan Spellacy","startTime":621.278,"endTime":622.428,"body":"from that same trajectory."},{"speaker":"Brennan Spellacy","startTime":622.733,"endTime":623.843,"body":"That the north has."},{"speaker":"Brennan Spellacy","startTime":624.203,"endTime":626.573,"body":"So because of that, the"},{"speaker":"Brennan Spellacy","startTime":624.203,"endTime":626.573,"body":"north, in my opinion has to"},{"speaker":"Brennan Spellacy","startTime":626.573,"endTime":628.103,"body":"do double duty in that case."},{"speaker":"Brennan Spellacy","startTime":628.283,"endTime":633.023,"body":"And that is kind of bringing me to the"},{"speaker":"Brennan Spellacy","startTime":628.283,"endTime":633.023,"body":"second point, which is, it really depends"},{"speaker":"Brennan Spellacy","startTime":633.023,"endTime":637.103,"body":"on the cost and the rules that are set"},{"speaker":"Brennan Spellacy","startTime":633.023,"endTime":637.103,"body":"for how you can pay those parking tickets."},{"speaker":"Brennan Spellacy","startTime":637.403,"endTime":640.403,"body":"Because in that world, I at least,"},{"speaker":"Brennan Spellacy","startTime":637.403,"endTime":640.403,"body":"again, in the states, if you have a"},{"speaker":"Brennan Spellacy","startTime":640.403,"endTime":642.773,"body":"certain number of parking tickets,"},{"speaker":"Brennan Spellacy","startTime":640.403,"endTime":642.773,"body":"you, then you lose your license, right."},{"speaker":"Brennan Spellacy","startTime":642.773,"endTime":645.983,"body":"It's actually not, you can pay"},{"speaker":"Brennan Spellacy","startTime":642.773,"endTime":645.983,"body":"infinite parking tickets forever."},{"speaker":"Brennan Spellacy","startTime":645.983,"endTime":649.793,"body":"Like  my father actually has a very funny"},{"speaker":"Brennan Spellacy","startTime":645.983,"endTime":649.793,"body":"story where he parked illegally all the"},{"speaker":"Brennan Spellacy","startTime":649.793,"endTime":654.083,"body":"time in Montreal where he studied and they"},{"speaker":"Brennan Spellacy","startTime":649.793,"endTime":654.083,"body":"repossessed his car and he had, I think,"},{"speaker":"Brennan Spellacy","startTime":654.143,"endTime":658.133,"body":"six or $7,000 in outstanding tickets,"},{"speaker":"Brennan Spellacy","startTime":654.143,"endTime":658.133,"body":"but the car was worth like two grand."},{"speaker":"Brennan Spellacy","startTime":658.133,"endTime":660.023,"body":"And so he just said, you"},{"speaker":"Brennan Spellacy","startTime":658.133,"endTime":660.023,"body":"should just keep the car."},{"speaker":"Brennan Spellacy","startTime":660.293,"endTime":663.983,"body":"I'm not coming back from my,"},{"speaker":"Brennan Spellacy","startTime":660.293,"endTime":663.983,"body":"you know, 1977 Honda civic"},{"speaker":"Brennan Spellacy","startTime":663.983,"endTime":665.603,"body":"with like 300,000 miles on it."},{"speaker":"Brennan Spellacy","startTime":665.813,"endTime":667.823,"body":"And so eventually the thing gets"},{"speaker":"Brennan Spellacy","startTime":665.813,"endTime":667.823,"body":"taken away in that metaphor."},{"speaker":"Brennan Spellacy","startTime":668.003,"endTime":670.643,"body":"And that's kinda where we view"},{"speaker":"Brennan Spellacy","startTime":668.003,"endTime":670.643,"body":"the role of policy to come in"},{"speaker":"Brennan Spellacy","startTime":670.643,"endTime":672.473,"body":"or really robust climate plans."},{"speaker":"Brennan Spellacy","startTime":672.743,"endTime":677.033,"body":"So again, going back to the initial"},{"speaker":"Brennan Spellacy","startTime":672.743,"endTime":677.033,"body":"comment we made earlier, carbon removal"},{"speaker":"Brennan Spellacy","startTime":677.038,"endTime":682.043,"body":"should not be making up more than"},{"speaker":"Brennan Spellacy","startTime":677.038,"endTime":682.043,"body":"20, 30% of your net zero strategy."},{"speaker":"Brennan Spellacy","startTime":682.073,"endTime":684.803,"body":"So there really ought to be a"},{"speaker":"Brennan Spellacy","startTime":682.073,"endTime":684.803,"body":"cap and expectations around the"},{"speaker":"Brennan Spellacy","startTime":684.803,"endTime":686.453,"body":"quality of that carbon removal."},{"speaker":"Brennan Spellacy","startTime":686.933,"endTime":690.353,"body":"And so historically offsets"},{"speaker":"Brennan Spellacy","startTime":686.933,"endTime":690.353,"body":"have been very, very affordable."},{"speaker":"Brennan Spellacy","startTime":691.223,"endTime":693.623,"body":"And the reason they've been affordable"},{"speaker":"Brennan Spellacy","startTime":691.223,"endTime":693.623,"body":"is cuz they've typically subsidized"},{"speaker":"Brennan Spellacy","startTime":693.623,"endTime":696.653,"body":"something like renewable energy"},{"speaker":"Brennan Spellacy","startTime":693.623,"endTime":696.653,"body":"development in the global south, be"},{"speaker":"Brennan Spellacy","startTime":696.658,"endTime":700.433,"body":"like the clean development mechanism for"},{"speaker":"Brennan Spellacy","startTime":696.658,"endTime":700.433,"body":"example, what we're seeing the average"},{"speaker":"Brennan Spellacy","startTime":700.433,"endTime":702.503,"body":"price per ton bought on Patch is $70."},{"speaker":"Brennan Spellacy","startTime":702.968,"endTime":705.878,"body":"And so it's speak like the kind of"},{"speaker":"Brennan Spellacy","startTime":702.968,"endTime":705.878,"body":"organizations we're working with, which"},{"speaker":"Brennan Spellacy","startTime":705.878,"endTime":708.848,"body":"are typically technology companies,"},{"speaker":"Brennan Spellacy","startTime":705.878,"endTime":708.848,"body":"financial institutions, they have"},{"speaker":"Brennan Spellacy","startTime":708.848,"endTime":711.848,"body":"a very, very high willingness to"},{"speaker":"Brennan Spellacy","startTime":708.848,"endTime":711.848,"body":"pay for effective climate action."},{"speaker":"Brennan Spellacy","startTime":712.208,"endTime":716.408,"body":"And as a result, we would really expect"},{"speaker":"Brennan Spellacy","startTime":712.208,"endTime":716.408,"body":"that to set the best in class standard,"},{"speaker":"Brennan Spellacy","startTime":716.408,"endTime":719.798,"body":"where as you're ratcheting up the"},{"speaker":"Brennan Spellacy","startTime":716.408,"endTime":719.798,"body":"price, you're both actually truly having"},{"speaker":"Brennan Spellacy","startTime":720.308,"endTime":725.053,"body":"durable climate impact, but also the"},{"speaker":"Brennan Spellacy","startTime":720.308,"endTime":725.053,"body":"price for tons things enough where it's"},{"speaker":"Brennan Spellacy","startTime":725.053,"endTime":727.393,"body":"a good incentive to say, Hey, maybe"},{"speaker":"Brennan Spellacy","startTime":725.053,"endTime":727.393,"body":"we shouldn't do that business travel"},{"speaker":"Brennan Spellacy","startTime":727.393,"endTime":729.013,"body":"because it's not just the cost of ticket."},{"speaker":"Brennan Spellacy","startTime":729.103,"endTime":732.523,"body":"It's gonna be another $200 on top"},{"speaker":"Brennan Spellacy","startTime":729.103,"endTime":732.523,"body":"of it to use direct air capture,"},{"speaker":"Brennan Spellacy","startTime":732.523,"endTime":735.493,"body":"to take it outta the air or"},{"speaker":"Brennan Spellacy","startTime":732.523,"endTime":735.493,"body":"whatever the specific example is."},{"speaker":"Brennan Spellacy","startTime":735.853,"endTime":738.373,"body":"And so, you know, I think on"},{"speaker":"Brennan Spellacy","startTime":735.853,"endTime":738.373,"body":"the surface that metaphor, I"},{"speaker":"Brennan Spellacy","startTime":738.373,"endTime":739.303,"body":"think definitely resonates."},{"speaker":"Brennan Spellacy","startTime":739.303,"endTime":742.453,"body":"You know, I hear a lot of get out"},{"speaker":"Brennan Spellacy","startTime":739.303,"endTime":742.453,"body":"of jail free card type metaphors as"},{"speaker":"Brennan Spellacy","startTime":742.453,"endTime":745.753,"body":"well, but I think if you really focus"},{"speaker":"Brennan Spellacy","startTime":742.453,"endTime":745.753,"body":"on, okay, what are the exact rules."},{"speaker":"Brennan Spellacy","startTime":746.578,"endTime":750.708,"body":"That we should be playing by you then"},{"speaker":"Brennan Spellacy","startTime":746.578,"endTime":750.708,"body":"realize that get outta jail free card."},{"speaker":"Brennan Spellacy","startTime":750.708,"endTime":753.648,"body":"If we actually define it"},{"speaker":"Brennan Spellacy","startTime":750.708,"endTime":753.648,"body":"appropriately, isn't very free at all."},{"speaker":"Brennan Spellacy","startTime":753.648,"endTime":755.958,"body":"It's actually quite expensive,"},{"speaker":"Brennan Spellacy","startTime":753.648,"endTime":755.958,"body":"which is the right incentive"},{"speaker":"Brennan Spellacy","startTime":755.958,"endTime":758.448,"body":"structure for typically a company."},{"speaker":"Tom Raftery","startTime":759.033,"endTime":759.363,"body":"Sure."},{"speaker":"Tom Raftery","startTime":759.483,"endTime":759.693,"body":"Sure."},{"speaker":"Tom Raftery","startTime":759.793,"endTime":764.383,"body":"And, and when you say it averages"},{"speaker":"Tom Raftery","startTime":759.793,"endTime":764.383,"body":"70, what's the kind of range"},{"speaker":"Tom Raftery","startTime":764.383,"endTime":765.823,"body":"and what influences that range?"},{"speaker":"Brennan Spellacy","startTime":766.948,"endTime":770.114,"body":"So at the very bottom"},{"speaker":"Brennan Spellacy","startTime":766.948,"endTime":770.114,"body":"for something like a reforestation"},{"speaker":"Brennan Spellacy","startTime":770.114,"endTime":773.769,"body":"project and maybe like a frontier"},{"speaker":"Brennan Spellacy","startTime":770.114,"endTime":773.769,"body":"nation or developing nation might be"},{"speaker":"Brennan Spellacy","startTime":773.769,"endTime":777.429,"body":"in a scale of 15 to $20 per ton for"},{"speaker":"Brennan Spellacy","startTime":773.769,"endTime":777.429,"body":"something that's like actually truly"},{"speaker":"Brennan Spellacy","startTime":777.429,"endTime":781.059,"body":"additional and will actually not be"},{"speaker":"Brennan Spellacy","startTime":777.429,"endTime":781.059,"body":"something like a monoculture, for"},{"speaker":"Brennan Spellacy","startTime":781.059,"endTime":783.999,"body":"example, where it's all the same tree,"},{"speaker":"Brennan Spellacy","startTime":781.059,"endTime":783.999,"body":"but rather a diversity of forestry."},{"speaker":"Brennan Spellacy","startTime":784.509,"endTime":787.239,"body":"And then at the top end of the"},{"speaker":"Brennan Spellacy","startTime":784.509,"endTime":787.239,"body":"scale, we have things like direct air"},{"speaker":"Brennan Spellacy","startTime":787.239,"endTime":790.599,"body":"capture at a thousand $1,200 per ton."},{"speaker":"Brennan Spellacy","startTime":790.989,"endTime":794.839,"body":"And there's a few kind of things"},{"speaker":"Brennan Spellacy","startTime":790.989,"endTime":794.839,"body":"that guide that price typically"},{"speaker":"Brennan Spellacy","startTime":795.199,"endTime":797.449,"body":"the maturity of the technology."},{"speaker":"Brennan Spellacy","startTime":797.779,"endTime":799.069,"body":"So photosynthesis."},{"speaker":"Brennan Spellacy","startTime":799.459,"endTime":800.089,"body":"Agriculture."},{"speaker":"Brennan Spellacy","startTime":800.119,"endTime":802.369,"body":"It's a very mature industry"},{"speaker":"Brennan Spellacy","startTime":800.119,"endTime":802.369,"body":"we understand how that works."},{"speaker":"Brennan Spellacy","startTime":802.639,"endTime":806.029,"body":"Direct air capture is very"},{"speaker":"Brennan Spellacy","startTime":802.639,"endTime":806.029,"body":"thermodynamically complex, and we're"},{"speaker":"Brennan Spellacy","startTime":806.029,"endTime":808.309,"body":"still very, very early on in what's"},{"speaker":"Brennan Spellacy","startTime":806.029,"endTime":808.309,"body":"called the cost curve, which is"},{"speaker":"Brennan Spellacy","startTime":808.314,"endTime":812.569,"body":"essentially as you scale up production,"},{"speaker":"Brennan Spellacy","startTime":808.314,"endTime":812.569,"body":"the unit cost of something goes down."},{"speaker":"Brennan Spellacy","startTime":812.914,"endTime":816.154,"body":"We have not scaled up production of that"},{"speaker":"Brennan Spellacy","startTime":812.914,"endTime":816.154,"body":"yet, but we have done that with forestry."},{"speaker":"Brennan Spellacy","startTime":816.154,"endTime":818.554,"body":"So we've traversed the cost curve"},{"speaker":"Brennan Spellacy","startTime":816.154,"endTime":818.554,"body":"in a lot of cases, forestry, but"},{"speaker":"Brennan Spellacy","startTime":818.554,"endTime":821.564,"body":"we have not direct air capture and"},{"speaker":"Brennan Spellacy","startTime":818.554,"endTime":821.564,"body":"there are other, kind of interest"},{"speaker":"Brennan Spellacy","startTime":821.564,"endTime":823.394,"body":"supply and demand dynamics as well."},{"speaker":"Brennan Spellacy","startTime":823.634,"endTime":826.999,"body":"Whereas some of these frontier"},{"speaker":"Brennan Spellacy","startTime":823.634,"endTime":826.999,"body":"technologies, that have the thousand"},{"speaker":"Brennan Spellacy","startTime":826.999,"endTime":830.419,"body":"10,000 plus year permanence associated"},{"speaker":"Brennan Spellacy","startTime":826.999,"endTime":830.419,"body":"with them are actually highly in demand."},{"speaker":"Brennan Spellacy","startTime":830.449,"endTime":833.779,"body":"And so some of those suppliers actually"},{"speaker":"Brennan Spellacy","startTime":830.449,"endTime":833.779,"body":"have significant pricing power."},{"speaker":"Brennan Spellacy","startTime":833.959,"endTime":836.389,"body":"And so in some cases you might"},{"speaker":"Brennan Spellacy","startTime":833.959,"endTime":836.389,"body":"be buying a more premium product."},{"speaker":"Brennan Spellacy","startTime":836.389,"endTime":839.449,"body":"And so if something's more highly"},{"speaker":"Brennan Spellacy","startTime":836.389,"endTime":839.449,"body":"sought after the supply is limited, that"},{"speaker":"Brennan Spellacy","startTime":839.449,"endTime":840.899,"body":"typically creates upward price pressure."},{"speaker":"Tom Raftery","startTime":841.909,"endTime":842.239,"body":"Okay."},{"speaker":"Tom Raftery","startTime":842.289,"endTime":849.089,"body":"Fair enough if I have some fantastic"},{"speaker":"Tom Raftery","startTime":842.289,"endTime":849.089,"body":"carbon removal technology that"},{"speaker":"Tom Raftery","startTime":849.089,"endTime":853.709,"body":"I'm after developing, and I want"},{"speaker":"Tom Raftery","startTime":849.089,"endTime":853.709,"body":"you to help me monetize that."},{"speaker":"Tom Raftery","startTime":853.919,"endTime":855.029,"body":"What are next steps for me?"},{"speaker":"Brennan Spellacy","startTime":856.008,"endTime":856.668,"body":"It's a great question."},{"speaker":"Brennan Spellacy","startTime":857.118,"endTime":860.238,"body":"So we have an entire business"},{"speaker":"Brennan Spellacy","startTime":857.118,"endTime":860.238,"body":"development and trust and safety team"},{"speaker":"Brennan Spellacy","startTime":860.238,"endTime":862.368,"body":"on the supply side of our business."},{"speaker":"Brennan Spellacy","startTime":862.368,"endTime":864.378,"body":"So they're people actually"},{"speaker":"Brennan Spellacy","startTime":862.368,"endTime":864.378,"body":"taking the climate action"},{"speaker":"Brennan Spellacy","startTime":864.378,"endTime":865.968,"body":"themselves and using our software."},{"speaker":"Brennan Spellacy","startTime":866.628,"endTime":869.598,"body":"And so there's a few paths that"},{"speaker":"Brennan Spellacy","startTime":866.628,"endTime":869.598,"body":"you have to take, and there's a"},{"speaker":"Brennan Spellacy","startTime":869.598,"endTime":871.878,"body":"pretty robust sequence of steps."},{"speaker":"Brennan Spellacy","startTime":871.878,"endTime":874.548,"body":"You have to go through to even be"},{"speaker":"Brennan Spellacy","startTime":871.878,"endTime":874.548,"body":"allowed to sell on the platform."},{"speaker":"Brennan Spellacy","startTime":874.608,"endTime":876.828,"body":"And there's really two paths right now."},{"speaker":"Brennan Spellacy","startTime":877.128,"endTime":880.638,"body":"There's the idea of being on the"},{"speaker":"Brennan Spellacy","startTime":877.128,"endTime":880.638,"body":"marketplace itself in order to be"},{"speaker":"Brennan Spellacy","startTime":880.638,"endTime":883.098,"body":"on the marketplace, you have to pass"},{"speaker":"Brennan Spellacy","startTime":880.638,"endTime":883.098,"body":"all those trust and safety rules."},{"speaker":"Brennan Spellacy","startTime":883.103,"endTime":886.848,"body":"So you have to, you know, things, basic"},{"speaker":"Brennan Spellacy","startTime":883.103,"endTime":886.848,"body":"things like K YC or know your client,"},{"speaker":"Brennan Spellacy","startTime":887.238,"endTime":891.158,"body":"you have to show where are your carbon"},{"speaker":"Brennan Spellacy","startTime":887.238,"endTime":891.158,"body":"credits actually housed or registered."},{"speaker":"Brennan Spellacy","startTime":891.378,"endTime":891.618,"body":"Right."},{"speaker":"Brennan Spellacy","startTime":891.618,"endTime":895.308,"body":"Are you using a traditional certifier,"},{"speaker":"Brennan Spellacy","startTime":891.618,"endTime":895.308,"body":"like Avera where they're actually the ones"},{"speaker":"Brennan Spellacy","startTime":895.308,"endTime":901.568,"body":"minting the credit or are you using some"},{"speaker":"Brennan Spellacy","startTime":895.308,"endTime":901.568,"body":"sort self certification or pathway where"},{"speaker":"Brennan Spellacy","startTime":901.568,"endTime":903.578,"body":"maybe there's no existing protocol yet."},{"speaker":"Brennan Spellacy","startTime":903.728,"endTime":906.188,"body":"Cause that's actually a very interesting"},{"speaker":"Brennan Spellacy","startTime":903.728,"endTime":906.188,"body":"dynamic we're in right now where"},{"speaker":"Brennan Spellacy","startTime":906.188,"endTime":909.518,"body":"companies like Charm Industrial, for"},{"speaker":"Brennan Spellacy","startTime":906.188,"endTime":909.518,"body":"example, they're actually taking the"},{"speaker":"Brennan Spellacy","startTime":909.518,"endTime":912.458,"body":"approach of partnering with a third"},{"speaker":"Brennan Spellacy","startTime":909.518,"endTime":912.458,"body":"party by running their own registry"},{"speaker":"Brennan Spellacy","startTime":912.458,"endTime":914.378,"body":"system and their own fulfillment system."},{"speaker":"Brennan Spellacy","startTime":914.708,"endTime":918.488,"body":"And so depending on the technology type"},{"speaker":"Brennan Spellacy","startTime":914.708,"endTime":918.488,"body":"in the party, there's some situations"},{"speaker":"Brennan Spellacy","startTime":918.488,"endTime":922.778,"body":"where it's a lot more clear,  if they're"},{"speaker":"Brennan Spellacy","startTime":918.488,"endTime":922.778,"body":"in the kind of old mechanism of running"},{"speaker":"Brennan Spellacy","startTime":922.778,"endTime":926.498,"body":"through the traditional registry systems,"},{"speaker":"Brennan Spellacy","startTime":922.778,"endTime":926.498,"body":"but in the world where the registry system"},{"speaker":"Brennan Spellacy","startTime":926.498,"endTime":930.338,"body":"has not caught up yet, how do you have"},{"speaker":"Brennan Spellacy","startTime":926.498,"endTime":930.338,"body":"things like an LCA evaluated by a third"},{"speaker":"Brennan Spellacy","startTime":930.338,"endTime":935.168,"body":"party and proof of fulfillment and kind"},{"speaker":"Brennan Spellacy","startTime":930.338,"endTime":935.168,"body":"of indication of kinda like where cash"},{"speaker":"Brennan Spellacy","startTime":935.168,"endTime":938.618,"body":"is flowing as well as like really basic"},{"speaker":"Brennan Spellacy","startTime":935.168,"endTime":938.618,"body":"things, like is your development on,"},{"speaker":"Brennan Spellacy","startTime":938.618,"endTime":943.058,"body":"in a nation that's on like a US Canada"},{"speaker":"Brennan Spellacy","startTime":938.618,"endTime":943.058,"body":"or any sort of buyer sanction list?"},{"speaker":"Brennan Spellacy","startTime":943.618,"endTime":948.103,"body":"That's actually been kind of a"},{"speaker":"Brennan Spellacy","startTime":943.618,"endTime":948.103,"body":"problem in some cases with some more"},{"speaker":"Brennan Spellacy","startTime":948.173,"endTime":951.233,"body":"developing, ancient projects is like,"},{"speaker":"Brennan Spellacy","startTime":948.173,"endTime":951.233,"body":"there's actually like humanitarian"},{"speaker":"Brennan Spellacy","startTime":951.233,"endTime":953.363,"body":"problems with the project itself."},{"speaker":"Brennan Spellacy","startTime":953.368,"endTime":954.863,"body":"And so as a result,"},{"speaker":"Brennan Spellacy","startTime":953.368,"endTime":954.863,"body":"you cannot be on Patch."},{"speaker":"Brennan Spellacy","startTime":955.313,"endTime":956.783,"body":"That's kinda for the marketplace path."},{"speaker":"Brennan Spellacy","startTime":956.813,"endTime":959.933,"body":"And there are some cases where"},{"speaker":"Brennan Spellacy","startTime":956.813,"endTime":959.933,"body":"people maybe are not mature"},{"speaker":"Brennan Spellacy","startTime":959.933,"endTime":962.439,"body":"enough , be on the Patch marketplace."},{"speaker":"Brennan Spellacy","startTime":962.439,"endTime":966.879,"body":"And so as a result, instead, we allow them"},{"speaker":"Brennan Spellacy","startTime":962.439,"endTime":966.879,"body":"to sell using Patch's software, but not"},{"speaker":"Brennan Spellacy","startTime":967.209,"endTime":971.369,"body":"to the marketplace where they're actually"},{"speaker":"Brennan Spellacy","startTime":967.209,"endTime":971.369,"body":"selling directly to an organization."},{"speaker":"Brennan Spellacy","startTime":971.749,"endTime":973.399,"body":"But Patch is not act as the intermediary."},{"speaker":"Brennan Spellacy","startTime":973.399,"endTime":976.639,"body":"We just act as a software provider"},{"speaker":"Brennan Spellacy","startTime":973.399,"endTime":976.639,"body":"in the accounting system to enable"},{"speaker":"Brennan Spellacy","startTime":976.639,"endTime":980.809,"body":"that in that case, we're far more"},{"speaker":"Brennan Spellacy","startTime":976.639,"endTime":980.809,"body":"lenient on who can be on there, but"},{"speaker":"Brennan Spellacy","startTime":980.809,"endTime":984.799,"body":"we're far more strict on the kind of"},{"speaker":"Brennan Spellacy","startTime":980.809,"endTime":984.799,"body":"expectations from a legal perspective,"},{"speaker":"Brennan Spellacy","startTime":984.889,"endTime":989.239,"body":"because if you buy through Patches"},{"speaker":"Brennan Spellacy","startTime":984.889,"endTime":989.239,"body":"marketplace, there's all these legal and"},{"speaker":"Brennan Spellacy","startTime":989.239,"endTime":990.619,"body":"financial guard rails we provide you."},{"speaker":"Brennan Spellacy","startTime":991.159,"endTime":995.209,"body":"And if you're buying, if you're selling"},{"speaker":"Brennan Spellacy","startTime":991.159,"endTime":995.209,"body":"through the Patch platform, it's"},{"speaker":"Brennan Spellacy","startTime":995.209,"endTime":998.119,"body":"really just a matter of we're giving"},{"speaker":"Brennan Spellacy","startTime":995.209,"endTime":998.119,"body":"you software to collect payment and"},{"speaker":"Brennan Spellacy","startTime":998.119,"endTime":1002.401,"body":"manage inventory, but we're not taking"},{"speaker":"Brennan Spellacy","startTime":998.119,"endTime":1002.401,"body":"an active role with the buyer itself."},{"speaker":"Brennan Spellacy","startTime":1002.401,"endTime":1004.231,"body":"You're owning that"},{"speaker":"Brennan Spellacy","startTime":1002.401,"endTime":1004.231,"body":"relationship with the buyer."},{"speaker":"Brennan Spellacy","startTime":1004.381,"endTime":1006.931,"body":"And so it's up to you to set"},{"speaker":"Brennan Spellacy","startTime":1004.381,"endTime":1006.931,"body":"expectations, but what we've seen"},{"speaker":"Brennan Spellacy","startTime":1006.931,"endTime":1010.671,"body":"there work really, really well is"},{"speaker":"Brennan Spellacy","startTime":1006.931,"endTime":1010.671,"body":"companies that might be pilot stage."},{"speaker":"Brennan Spellacy","startTime":1010.676,"endTime":1014.451,"body":"Maybe they've just gotten like an ARPA-E"},{"speaker":"Brennan Spellacy","startTime":1010.676,"endTime":1014.451,"body":"grant from the US government and they're"},{"speaker":"Brennan Spellacy","startTime":1014.451,"endTime":1016.251,"body":"developing some sort of novel technology."},{"speaker":"Brennan Spellacy","startTime":1017.121,"endTime":1020.241,"body":"And they're looking to corporates"},{"speaker":"Brennan Spellacy","startTime":1017.121,"endTime":1020.241,"body":"that maybe prepurchase inventory"},{"speaker":"Brennan Spellacy","startTime":1020.241,"endTime":1023.301,"body":"to help them subsidize the"},{"speaker":"Brennan Spellacy","startTime":1020.241,"endTime":1023.301,"body":"development of their technology."},{"speaker":"Brennan Spellacy","startTime":1023.661,"endTime":1026.391,"body":"Patch isn't at a position where"},{"speaker":"Brennan Spellacy","startTime":1023.661,"endTime":1026.391,"body":"we'd be comfortable enough to put."},{"speaker":"Brennan Spellacy","startTime":1027.096,"endTime":1028.866,"body":"Way behind that to be on the marketplace."},{"speaker":"Brennan Spellacy","startTime":1028.866,"endTime":1032.616,"body":"But if specific buyers are willing and"},{"speaker":"Brennan Spellacy","startTime":1028.866,"endTime":1032.616,"body":"understanding of what's happening and"},{"speaker":"Brennan Spellacy","startTime":1032.616,"endTime":1037.086,"body":"they really view it more of a market"},{"speaker":"Brennan Spellacy","startTime":1032.616,"endTime":1037.086,"body":"moving or R and D exercise, rather than"},{"speaker":"Brennan Spellacy","startTime":1037.116,"endTime":1039.966,"body":"something that they're gonna count towards"},{"speaker":"Brennan Spellacy","startTime":1037.116,"endTime":1039.966,"body":"the net zero commitment, that's a really,"},{"speaker":"Brennan Spellacy","startTime":1039.966,"endTime":1044.916,"body":"actually fantastic way for corporates to"},{"speaker":"Brennan Spellacy","startTime":1039.966,"endTime":1044.916,"body":"accelerate carbon removal development with"},{"speaker":"Brennan Spellacy","startTime":1044.916,"endTime":1047.256,"body":"non-dilutive capital  for the supplier."},{"speaker":"Brennan Spellacy","startTime":1047.706,"endTime":1050.046,"body":"So those are kind of the two different"},{"speaker":"Brennan Spellacy","startTime":1047.706,"endTime":1050.046,"body":"ways you can operate on Patch."},{"speaker":"Brennan Spellacy","startTime":1050.046,"endTime":1052.296,"body":"So it really depends on where"},{"speaker":"Brennan Spellacy","startTime":1050.046,"endTime":1052.296,"body":"you are in your maturity with"},{"speaker":"Brennan Spellacy","startTime":1052.296,"endTime":1053.586,"body":"your particular technology Tom."},{"speaker":"Tom Raftery","startTime":1054.101,"endTime":1054.391,"body":"Okay."},{"speaker":"Tom Raftery","startTime":1054.661,"endTime":1054.951,"body":"Okay."},{"speaker":"Tom Raftery","startTime":1055.401,"endTime":1061.491,"body":"And on the flip side, if I am, for"},{"speaker":"Tom Raftery","startTime":1055.401,"endTime":1061.491,"body":"example, a chief sustainability officer of"},{"speaker":"Tom Raftery","startTime":1061.491,"endTime":1066.621,"body":"some organization, and we're going through"},{"speaker":"Tom Raftery","startTime":1061.491,"endTime":1066.621,"body":"a decarbonization exercise and reducing"},{"speaker":"Tom Raftery","startTime":1066.626,"endTime":1070.641,"body":"the amount of CO2 we're emitting, but"},{"speaker":"Tom Raftery","startTime":1066.626,"endTime":1070.641,"body":"we're nowhere near where we need to go."},{"speaker":"Tom Raftery","startTime":1070.641,"endTime":1073.311,"body":"So we want to try and come"},{"speaker":"Tom Raftery","startTime":1070.641,"endTime":1073.311,"body":"up from underneath as well."},{"speaker":"Tom Raftery","startTime":1073.621,"endTime":1075.871,"body":"So we need to get offsets."},{"speaker":"Tom Raftery","startTime":1076.111,"endTime":1078.331,"body":"How do I interact with"},{"speaker":"Tom Raftery","startTime":1076.111,"endTime":1078.331,"body":"Patch in that scenario?"},{"speaker":"Brennan Spellacy","startTime":1080.651,"endTime":1084.061,"body":"So in that case,"},{"speaker":"Brennan Spellacy","startTime":1080.651,"endTime":1084.061,"body":"It's really just a matter of making an"},{"speaker":"Brennan Spellacy","startTime":1084.061,"endTime":1087.031,"body":"account and then using these products."},{"speaker":"Brennan Spellacy","startTime":1114.471,"endTime":1119.2630000000001,"body":"So the quote of whole point of,"},{"speaker":"Brennan Spellacy","startTime":1114.471,"endTime":1119.2630000000001,"body":"marketplace , is to what I call"},{"speaker":"Brennan Spellacy","startTime":1119.5030000000002,"endTime":1121.123,"body":"drive activation energy to zero."},{"speaker":"Brennan Spellacy","startTime":1121.153,"endTime":1123.193,"body":"So how do you make it as easy as possible?"},{"speaker":"Brennan Spellacy","startTime":1123.403,"endTime":1127.2430000000002,"body":"So if you wanna do today, you could"},{"speaker":"Brennan Spellacy","startTime":1123.403,"endTime":1127.2430000000002,"body":"build a carbon program in Patch,"},{"speaker":"Brennan Spellacy","startTime":1127.2430000000002,"endTime":1128.893,"body":"as robust as Microsoft's right."},{"speaker":"Brennan Spellacy","startTime":1128.893,"endTime":1132.0430000000001,"body":"We're Microsoft is published there, so"},{"speaker":"Brennan Spellacy","startTime":1128.893,"endTime":1132.0430000000001,"body":"you can make Microsoft's carbon program"},{"speaker":"Brennan Spellacy","startTime":1132.0430000000001,"endTime":1138.1680000000001,"body":"and Patch today in an afternoon and"},{"speaker":"Brennan Spellacy","startTime":1132.0430000000001,"endTime":1138.1680000000001,"body":"versus having a team of, you know, 10, 15"},{"speaker":"Brennan Spellacy","startTime":1138.1680000000001,"endTime":1141.988,"body":"brilliant people six month timeline to do"},{"speaker":"Brennan Spellacy","startTime":1138.1680000000001,"endTime":1141.988,"body":"all the BD and diligence and contracting."},{"speaker":"Brennan Spellacy","startTime":1141.988,"endTime":1144.718,"body":"You can do what Microsoft has"},{"speaker":"Brennan Spellacy","startTime":1141.988,"endTime":1144.718,"body":"done in an afternoon on Patch."},{"speaker":"Brennan Spellacy","startTime":1144.8680000000002,"endTime":1146.098,"body":"And that's why it's so powerful."},{"speaker":"Brennan Spellacy","startTime":1146.098,"endTime":1149.458,"body":"And why we talk about this idea of,"},{"speaker":"Brennan Spellacy","startTime":1146.098,"endTime":1149.458,"body":"although it's a little bit overused,"},{"speaker":"Brennan Spellacy","startTime":1149.458,"endTime":1150.928,"body":"this idea of democratization, right?"},{"speaker":"Brennan Spellacy","startTime":1150.933,"endTime":1155.458,"body":"The only way we're gonna hit this"},{"speaker":"Brennan Spellacy","startTime":1150.933,"endTime":1155.458,"body":"kind gigaton scale impact is really"},{"speaker":"Brennan Spellacy","startTime":1155.728,"endTime":1159.758,"body":"driving the effort required for anyone"},{"speaker":"Brennan Spellacy","startTime":1155.728,"endTime":1159.758,"body":"to participate, whether you're a small"},{"speaker":"Brennan Spellacy","startTime":1159.758,"endTime":1163.813,"body":"business, whether you are kind of a"},{"speaker":"Brennan Spellacy","startTime":1159.758,"endTime":1163.813,"body":"medium sized, a large enterprise, how do"},{"speaker":"Brennan Spellacy","startTime":1163.813,"endTime":1168.413,"body":"you make it so, so easy to do the right"},{"speaker":"Brennan Spellacy","startTime":1163.813,"endTime":1168.413,"body":"thing  that you're prepared to do it."},{"speaker":"Brennan Spellacy","startTime":1168.413,"endTime":1170.7730000000001,"body":"You don't have to put a huge"},{"speaker":"Brennan Spellacy","startTime":1168.413,"endTime":1170.7730000000001,"body":"amount of human power behind it."},{"speaker":"Tom Raftery","startTime":1171.8680000000002,"endTime":1172.288,"body":"Okay."},{"speaker":"Tom Raftery","startTime":1172.6480000000001,"endTime":1179.338,"body":"And I mean, speaking of gigatons,"},{"speaker":"Tom Raftery","startTime":1172.6480000000001,"endTime":1179.338,"body":"roughly how many tons of CO2 are"},{"speaker":"Tom Raftery","startTime":1179.338,"endTime":1181.258,"body":"you guys abating at the moment?"},{"speaker":"Brennan Spellacy","startTime":1182.683,"endTime":1183.343,"body":"That's a good question."},{"speaker":"Brennan Spellacy","startTime":1183.348,"endTime":1186.583,"body":"I actually only know the dollar spend"},{"speaker":"Brennan Spellacy","startTime":1183.348,"endTime":1186.583,"body":"off the top of my head where it's on"},{"speaker":"Brennan Spellacy","startTime":1186.583,"endTime":1189.053,"body":"a scale of tens that we're gonna do"},{"speaker":"Brennan Spellacy","startTime":1186.583,"endTime":1189.053,"body":"tens of millions of volume this year."},{"speaker":"Tom Raftery","startTime":1190.188,"endTime":1190.478,"body":"Okay."},{"speaker":"Tom Raftery","startTime":1190.528,"endTime":1192.578,"body":"And the aim is to get to?"},{"speaker":"Brennan Spellacy","startTime":1193.401,"endTime":1197.521,"body":"The aim is to get to,"},{"speaker":"Brennan Spellacy","startTime":1193.401,"endTime":1197.521,"body":"I mean, at a giga ton at, at $50 a ton,"},{"speaker":"Brennan Spellacy","startTime":1197.521,"endTime":1199.141,"body":"that'd be 50 billion worth of volume."},{"speaker":"Brennan Spellacy","startTime":1199.501,"endTime":1200.5510000000002,"body":"So that's the goal."},{"speaker":"Tom Raftery","startTime":1201.031,"endTime":1202.411,"body":"just only one gigaton."},{"speaker":"Tom Raftery","startTime":1202.5910000000001,"endTime":1203.171,"body":"That's very modest."},{"speaker":"Brennan Spellacy","startTime":1204.121,"endTime":1204.781,"body":"Yes, exactly."},{"speaker":"Brennan Spellacy","startTime":1204.786,"endTime":1208.261,"body":"Well, I mean, it's, it's 10% of the"},{"speaker":"Brennan Spellacy","startTime":1204.786,"endTime":1208.261,"body":"necessary requirements, so I think  that's"},{"speaker":"Brennan Spellacy","startTime":1208.261,"endTime":1209.221,"body":"where we're gonna set the goal for now."},{"speaker":"Brennan Spellacy","startTime":1209.221,"endTime":1210.3310000000001,"body":"And then don't see, had a giga ton."},{"speaker":"Brennan Spellacy","startTime":1210.3310000000001,"endTime":1211.0510000000002,"body":"We'll go for two."},{"speaker":"Tom Raftery","startTime":1212.991,"endTime":1213.521,"body":"fair enough."},{"speaker":"Tom Raftery","startTime":1213.5510000000002,"endTime":1214.0410000000002,"body":"Fair enough."},{"speaker":"Tom Raftery","startTime":1214.8780000000002,"endTime":1215.098,"body":", and."},{"speaker":"Tom Raftery","startTime":1216.853,"endTime":1217.843,"body":"Where to from here."},{"speaker":"Tom Raftery","startTime":1217.843,"endTime":1221.088,"body":"I mean,  I know we've said gigaton"},{"speaker":"Tom Raftery","startTime":1217.843,"endTime":1221.088,"body":"is kind of where you want to get to"},{"speaker":"Tom Raftery","startTime":1221.088,"endTime":1224.6580000000001,"body":"ultimately then you're at about, how many,"},{"speaker":"Tom Raftery","startTime":1221.088,"endTime":1224.6580000000001,"body":"what did you say in terms of millions?"},{"speaker":"Tom Raftery","startTime":1224.6580000000001,"endTime":1224.958,"body":"Again,"},{"speaker":"Brennan Spellacy","startTime":1225.843,"endTime":1227.463,"body":"Tens of"},{"speaker":"Brennan Spellacy","startTime":1225.843,"endTime":1227.463,"body":"millions, tens of millions."},{"speaker":"Brennan Spellacy","startTime":1227.463,"endTime":1230.5330000000001,"body":"So depending on big variable"},{"speaker":"Brennan Spellacy","startTime":1227.463,"endTime":1230.5330000000001,"body":"that moves that volume number"},{"speaker":"Brennan Spellacy","startTime":1230.5330000000001,"endTime":1231.843,"body":"is that average price per ton."},{"speaker":"Brennan Spellacy","startTime":1232.5130000000001,"endTime":1232.813,"body":"Right."},{"speaker":"Brennan Spellacy","startTime":1233.353,"endTime":1236.173,"body":"That, so that's kind of the thing where"},{"speaker":"Brennan Spellacy","startTime":1233.353,"endTime":1236.173,"body":"if our price return continues to expand."},{"speaker":"Brennan Spellacy","startTime":1236.623,"endTime":1240.613,"body":"Then that actual tonnage number will"},{"speaker":"Brennan Spellacy","startTime":1236.623,"endTime":1240.613,"body":"go down, but if it kind of compresses,"},{"speaker":"Brennan Spellacy","startTime":1240.613,"endTime":1241.953,"body":"then that tonnage number will go up."},{"speaker":"Tom Raftery","startTime":1242.433,"endTime":1242.893,"body":"Okay."},{"speaker":"Tom Raftery","startTime":1242.893,"endTime":1246.688,"body":"And the ones, the likes of the direct"},{"speaker":"Tom Raftery","startTime":1242.893,"endTime":1246.688,"body":"air capture that are at the moment"},{"speaker":"Tom Raftery","startTime":1246.688,"endTime":1249.608,"body":"at around a thousand $1,200 a ton."},{"speaker":"Tom Raftery","startTime":1250.2430000000002,"endTime":1253.663,"body":"As we start to learn how to do them."},{"speaker":"Tom Raftery","startTime":1253.663,"endTime":1257.623,"body":"And as the cost curve comes down"},{"speaker":"Tom Raftery","startTime":1253.663,"endTime":1257.623,"body":"and as they come down, let's say"},{"speaker":"Tom Raftery","startTime":1257.623,"endTime":1263.7430000000002,"body":"they come down to a hundred dollars,"},{"speaker":"Tom Raftery","startTime":1257.623,"endTime":1263.7430000000002,"body":"a ton that will start to impact"},{"speaker":"Tom Raftery","startTime":1263.7430000000002,"endTime":1270.2830000000001,"body":"potentially on your income, or you'll"},{"speaker":"Tom Raftery","startTime":1263.7430000000002,"endTime":1270.2830000000001,"body":"start to sell more of them or not."},{"speaker":"Tom Raftery","startTime":1270.2830000000001,"endTime":1271.153,"body":"How do you see that?"},{"speaker":"Tom Raftery","startTime":1271.363,"endTime":1273.583,"body":"And how do you see that impacting as well?"},{"speaker":"Tom Raftery","startTime":1274.5430000000001,"endTime":1278.095,"body":"People's parking ticket idea that,"},{"speaker":"Tom Raftery","startTime":1274.5430000000001,"endTime":1278.095,"body":"suddenly it's a lot cheaper for"},{"speaker":"Tom Raftery","startTime":1278.095,"endTime":1281.605,"body":"them because when it was $1,200,"},{"speaker":"Tom Raftery","startTime":1278.095,"endTime":1281.605,"body":"you know, they have to think twice."},{"speaker":"Tom Raftery","startTime":1281.845,"endTime":1282.9850000000001,"body":"Now it's only a hundred."},{"speaker":"Tom Raftery","startTime":1283.795,"endTime":1284.935,"body":"Uh, maybe it's not so bad."},{"speaker":"Brennan Spellacy","startTime":1286.17,"endTime":1287.02,"body":"Yeah, totally."},{"speaker":"Brennan Spellacy","startTime":1287.076,"endTime":1288.4560000000001,"body":"I think there's a couple things here."},{"speaker":"Brennan Spellacy","startTime":1288.506,"endTime":1291.9660000000001,"body":"What's actually unclear is if in"},{"speaker":"Brennan Spellacy","startTime":1288.506,"endTime":1291.9660000000001,"body":"this specific example, direct air"},{"speaker":"Brennan Spellacy","startTime":1291.986,"endTime":1294.2060000000001,"body":"capture is even gonna be able to"},{"speaker":"Brennan Spellacy","startTime":1291.986,"endTime":1294.2060000000001,"body":"get to a hundred dollars a ton."},{"speaker":"Brennan Spellacy","startTime":1294.296,"endTime":1297.866,"body":"Like just the amount of like"},{"speaker":"Brennan Spellacy","startTime":1294.296,"endTime":1297.866,"body":"abundant, clean energy you need in"},{"speaker":"Brennan Spellacy","startTime":1297.866,"endTime":1299.396,"body":"order to enable something like that."},{"speaker":"Brennan Spellacy","startTime":1300.2060000000001,"endTime":1306.476,"body":"I would kind of actually peg it closer"},{"speaker":"Brennan Spellacy","startTime":1300.2060000000001,"endTime":1306.476,"body":"to like four to three to $400 by 2030."},{"speaker":"Brennan Spellacy","startTime":1306.806,"endTime":1310.406,"body":"I think that if we can get there for"},{"speaker":"Brennan Spellacy","startTime":1306.806,"endTime":1310.406,"body":"DAC specifically, because the associated"},{"speaker":"Brennan Spellacy","startTime":1310.406,"endTime":1314.106,"body":"storage as well of the carbon dioxide,"},{"speaker":"Brennan Spellacy","startTime":1310.406,"endTime":1314.106,"body":"I think that'd be absolutely phenomenal."},{"speaker":"Brennan Spellacy","startTime":1314.471,"endTime":1315.8210000000001,"body":"So, well, I mean, we'll see what happens."},{"speaker":"Brennan Spellacy","startTime":1315.8210000000001,"endTime":1319.871,"body":"Like I could very much be wrong or it"},{"speaker":"Brennan Spellacy","startTime":1315.8210000000001,"endTime":1319.871,"body":"needs either direction, but a lot of the"},{"speaker":"Brennan Spellacy","startTime":1319.871,"endTime":1323.336,"body":"kind of work we've done with these action"},{"speaker":"Brennan Spellacy","startTime":1319.871,"endTime":1323.336,"body":"developers themselves, that's kind of what"},{"speaker":"Brennan Spellacy","startTime":1323.336,"endTime":1324.986,"body":"they're setting  their sights on you will."},{"speaker":"Tom Raftery","startTime":1325.646,"endTime":1325.806,"body":"yeah."},{"speaker":"Brennan Spellacy","startTime":1326.386,"endTime":1328.6860000000001,"body":"Now as far"},{"speaker":"Brennan Spellacy","startTime":1326.386,"endTime":1328.6860000000001,"body":"as the dynamics of our income,"},{"speaker":"Brennan Spellacy","startTime":1329.016,"endTime":1329.886,"body":"I think you're totally right."},{"speaker":"Brennan Spellacy","startTime":1329.891,"endTime":1333.006,"body":"I think the thing that we kind of, the"},{"speaker":"Brennan Spellacy","startTime":1329.891,"endTime":1333.006,"body":"model we move to sometimes is we don't"},{"speaker":"Brennan Spellacy","startTime":1333.006,"endTime":1335.1660000000002,"body":"purely monetize based off of volume."},{"speaker":"Brennan Spellacy","startTime":1335.4660000000001,"endTime":1339.496,"body":"We're actually moving to this world"},{"speaker":"Brennan Spellacy","startTime":1335.4660000000001,"endTime":1339.496,"body":"where if,  you understand your"},{"speaker":"Brennan Spellacy","startTime":1339.501,"endTime":1344.116,"body":"usage of the Patch Platform, and the"},{"speaker":"Brennan Spellacy","startTime":1339.501,"endTime":1344.116,"body":"Patch Network we'll offer you the"},{"speaker":"Brennan Spellacy","startTime":1344.116,"endTime":1346.816,"body":"ability to pay for a lower take rate."},{"speaker":"Brennan Spellacy","startTime":1347.026,"endTime":1350.326,"body":"So basically less usage based"},{"speaker":"Brennan Spellacy","startTime":1347.026,"endTime":1350.326,"body":"revenue in exchange for subscription."},{"speaker":"Brennan Spellacy","startTime":1351.046,"endTime":1355.246,"body":"And so there's a model where actually"},{"speaker":"Brennan Spellacy","startTime":1351.046,"endTime":1355.246,"body":"we're charging, simply just subscription"},{"speaker":"Brennan Spellacy","startTime":1355.246,"endTime":1359.356,"body":"fees to enterprises for all you"},{"speaker":"Brennan Spellacy","startTime":1355.246,"endTime":1359.356,"body":"can eat access to the marketplace."},{"speaker":"Brennan Spellacy","startTime":1359.7160000000001,"endTime":1362.326,"body":"Right now that's kind of the world"},{"speaker":"Brennan Spellacy","startTime":1359.7160000000001,"endTime":1362.326,"body":"where we're actually heading towards."},{"speaker":"Brennan Spellacy","startTime":1362.626,"endTime":1364.816,"body":"And so in that case, we'd kind"},{"speaker":"Brennan Spellacy","startTime":1362.626,"endTime":1364.816,"body":"of be a little bit decoupled"},{"speaker":"Brennan Spellacy","startTime":1364.816,"endTime":1366.1660000000002,"body":"from volume a little bit."},{"speaker":"Brennan Spellacy","startTime":1366.316,"endTime":1369.346,"body":"It would still be some coupling because"},{"speaker":"Brennan Spellacy","startTime":1366.316,"endTime":1369.346,"body":"the amount of subscription revenue"},{"speaker":"Brennan Spellacy","startTime":1369.351,"endTime":1373.2160000000001,"body":"can generate is tightly coupled to the"},{"speaker":"Brennan Spellacy","startTime":1369.351,"endTime":1373.2160000000001,"body":"amount of volume using from the platform."},{"speaker":"Brennan Spellacy","startTime":1373.606,"endTime":1379.006,"body":"But the way that we think about it"},{"speaker":"Brennan Spellacy","startTime":1373.606,"endTime":1379.006,"body":"is there essentially the size of the"},{"speaker":"Brennan Spellacy","startTime":1379.006,"endTime":1382.606,"body":"problem is so big right now, where if"},{"speaker":"Brennan Spellacy","startTime":1379.006,"endTime":1382.606,"body":"we're actually getting to the point"},{"speaker":"Brennan Spellacy","startTime":1382.9660000000001,"endTime":1388.771,"body":"where the price per ton coming down"},{"speaker":"Brennan Spellacy","startTime":1382.9660000000001,"endTime":1388.771,"body":"is material affecting our revenue."},{"speaker":"Brennan Spellacy","startTime":1388.771,"endTime":1392.011,"body":"That's very much like a champagne"},{"speaker":"Brennan Spellacy","startTime":1388.771,"endTime":1392.011,"body":"problem because that basically"},{"speaker":"Brennan Spellacy","startTime":1392.011,"endTime":1397.2910000000002,"body":"means we're doing tens of billions"},{"speaker":"Brennan Spellacy","startTime":1392.011,"endTime":1397.2910000000002,"body":"of GMB through the platform."},{"speaker":"Brennan Spellacy","startTime":1397.2910000000002,"endTime":1400.141,"body":"Essentially, that's kind of, we are"},{"speaker":"Brennan Spellacy","startTime":1397.2910000000002,"endTime":1400.141,"body":"actually, if we're actively traversing the"},{"speaker":"Brennan Spellacy","startTime":1400.141,"endTime":1403.0510000000002,"body":"cost curve through Patch, it means that."},{"speaker":"Brennan Spellacy","startTime":1403.576,"endTime":1406.726,"body":"We've had some sort of major unlock, which"},{"speaker":"Brennan Spellacy","startTime":1403.576,"endTime":1406.726,"body":"typically means there are other value"},{"speaker":"Brennan Spellacy","startTime":1406.726,"endTime":1410.656,"body":"added services we can layer on top of"},{"speaker":"Brennan Spellacy","startTime":1406.726,"endTime":1410.656,"body":"it, either for suppliers or for buyers."},{"speaker":"Brennan Spellacy","startTime":1410.9260000000002,"endTime":1413.566,"body":"And so for us specifically, we're a"},{"speaker":"Brennan Spellacy","startTime":1410.9260000000002,"endTime":1413.566,"body":"little bit less concerned about that."},{"speaker":"Brennan Spellacy","startTime":1413.566,"endTime":1417.646,"body":"Although at the hypothetically or"},{"speaker":"Brennan Spellacy","startTime":1413.566,"endTime":1417.646,"body":"theoretically, that could happen, if"},{"speaker":"Brennan Spellacy","startTime":1417.646,"endTime":1420.1960000000001,"body":"you have that much material volume,"},{"speaker":"Brennan Spellacy","startTime":1417.646,"endTime":1420.1960000000001,"body":"there's always other ways you can"},{"speaker":"Brennan Spellacy","startTime":1420.201,"endTime":1423.796,"body":"create value for buyers, sellers,"},{"speaker":"Brennan Spellacy","startTime":1420.201,"endTime":1423.796,"body":"other ecosystem players, where you"},{"speaker":"Brennan Spellacy","startTime":1424.156,"endTime":1427.156,"body":"continue to grow and, and make patch"},{"speaker":"Brennan Spellacy","startTime":1424.156,"endTime":1427.156,"body":"in this case, a sustainable business."},{"speaker":"Brennan Spellacy","startTime":1427.2160000000001,"endTime":1429.536,"body":"So I'm a little bit less"},{"speaker":"Brennan Spellacy","startTime":1427.2160000000001,"endTime":1429.536,"body":"concerned about that, right know."},{"speaker":"Tom Raftery","startTime":1430.026,"endTime":1430.376,"body":"Okay."},{"speaker":"Tom Raftery","startTime":1430.596,"endTime":1432.726,"body":"And what kind of value add"},{"speaker":"Tom Raftery","startTime":1430.596,"endTime":1432.726,"body":"services were you thinking about?"},{"speaker":"Brennan Spellacy","startTime":1434.236,"endTime":1436.2910000000002,"body":"Yeah, whether it's"},{"speaker":"Brennan Spellacy","startTime":1434.236,"endTime":1436.2910000000002,"body":"helping folks like a really concrete"},{"speaker":"Brennan Spellacy","startTime":1436.2910000000002,"endTime":1440.011,"body":"one is we help suppliers today collect"},{"speaker":"Brennan Spellacy","startTime":1436.2910000000002,"endTime":1440.011,"body":"payments in six different currencies"},{"speaker":"Brennan Spellacy","startTime":1440.011,"endTime":1441.121,"body":"that they're not based in right now."},{"speaker":"Brennan Spellacy","startTime":1441.181,"endTime":1444.3210000000001,"body":"There's an opportunity to expand"},{"speaker":"Brennan Spellacy","startTime":1441.181,"endTime":1444.3210000000001,"body":"deeper into the payments world."},{"speaker":"Brennan Spellacy","startTime":1444.441,"endTime":1448.611,"body":"There's an opportunity to actually"},{"speaker":"Brennan Spellacy","startTime":1444.441,"endTime":1448.611,"body":"help buyers finance their purchases,"},{"speaker":"Brennan Spellacy","startTime":1448.701,"endTime":1451.0710000000001,"body":"or maybe purchase over multiple years."},{"speaker":"Brennan Spellacy","startTime":1451.441,"endTime":1457.6180000000002,"body":"You know, at scale Patch, it's gonna look"},{"speaker":"Brennan Spellacy","startTime":1451.441,"endTime":1457.6180000000002,"body":"more and more like a sustainable almost"},{"speaker":"Brennan Spellacy","startTime":1457.6180000000002,"endTime":1461.188,"body":"bank or FinTech at scale, where once you"},{"speaker":"Brennan Spellacy","startTime":1457.6180000000002,"endTime":1461.188,"body":"have a really material amount of volume,"},{"speaker":"Brennan Spellacy","startTime":1461.188,"endTime":1464.098,"body":"and this is kind of what happened when"},{"speaker":"Brennan Spellacy","startTime":1461.188,"endTime":1464.098,"body":"I was at Shopify, where focus on the"},{"speaker":"Brennan Spellacy","startTime":1464.098,"endTime":1468.058,"body":"basic things first, how do you manage"},{"speaker":"Brennan Spellacy","startTime":1464.098,"endTime":1468.058,"body":"inventory enable people, to order things,"},{"speaker":"Brennan Spellacy","startTime":1468.568,"endTime":1472.108,"body":"enable shipping all these other kind of"},{"speaker":"Brennan Spellacy","startTime":1468.568,"endTime":1472.108,"body":"like really basic foundational elements."},{"speaker":"Brennan Spellacy","startTime":1472.4080000000001,"endTime":1474.8980000000001,"body":"But when you're in a position where"},{"speaker":"Brennan Spellacy","startTime":1472.4080000000001,"endTime":1474.8980000000001,"body":"you essentially can see us apply and"},{"speaker":"Brennan Spellacy","startTime":1474.928,"endTime":1478.318,"body":"demand curve and a huge amount of volume"},{"speaker":"Brennan Spellacy","startTime":1474.928,"endTime":1478.318,"body":"going through there, there's always"},{"speaker":"Brennan Spellacy","startTime":1478.318,"endTime":1482.173,"body":"other things you can layer on top of"},{"speaker":"Brennan Spellacy","startTime":1478.318,"endTime":1482.173,"body":"afterwards and some of these value added"},{"speaker":"Brennan Spellacy","startTime":1482.173,"endTime":1484.663,"body":"services, I might not even be aware"},{"speaker":"Brennan Spellacy","startTime":1482.173,"endTime":1484.663,"body":"of because these problems might not"},{"speaker":"Brennan Spellacy","startTime":1484.663,"endTime":1489.403,"body":"even crop up until a supplier is doing"},{"speaker":"Brennan Spellacy","startTime":1484.663,"endTime":1489.403,"body":"a hundred million of top line a year."},{"speaker":"Brennan Spellacy","startTime":1489.4930000000002,"endTime":1493.483,"body":"And so in some cases it's actually tough"},{"speaker":"Brennan Spellacy","startTime":1489.4930000000002,"endTime":1493.483,"body":"to predict, but I've seen it happen so"},{"speaker":"Brennan Spellacy","startTime":1493.483,"endTime":1498.073,"body":"many times in other analogous companies"},{"speaker":"Brennan Spellacy","startTime":1493.483,"endTime":1498.073,"body":"that I'm incredibly optimistic about."},{"speaker":"Brennan Spellacy","startTime":1498.078,"endTime":1499.333,"body":"What's coming around in the future."},{"speaker":"Tom Raftery","startTime":1499.8880000000001,"endTime":1500.308,"body":"Okay."},{"speaker":"Tom Raftery","startTime":1500.578,"endTime":1504.178,"body":"And if I am that chief sustainability"},{"speaker":"Tom Raftery","startTime":1500.578,"endTime":1504.178,"body":"officer that I mentioned earlier,"},{"speaker":"Tom Raftery","startTime":1504.178,"endTime":1509.3980000000001,"body":"and I am buying through Patch, what"},{"speaker":"Tom Raftery","startTime":1504.178,"endTime":1509.3980000000001,"body":"kind of reports, can I get out of it?"},{"speaker":"Tom Raftery","startTime":1509.3980000000001,"endTime":1513.603,"body":"Can I pump it into, is there an API"},{"speaker":"Tom Raftery","startTime":1509.3980000000001,"endTime":1513.603,"body":"system where I can pump it into my"},{"speaker":"Tom Raftery","startTime":1513.603,"endTime":1515.7930000000001,"body":"sustainability reports or my backend?"},{"speaker":"Tom Raftery","startTime":1516.123,"endTime":1520.203,"body":"Or is there a UI where I can see a"},{"speaker":"Tom Raftery","startTime":1516.123,"endTime":1520.203,"body":"dashboard or a combination of both?"},{"speaker":"Tom Raftery","startTime":1520.203,"endTime":1520.983,"body":"Or how does that work?"},{"speaker":"Brennan Spellacy","startTime":1521.988,"endTime":1523.188,"body":"So"},{"speaker":"Brennan Spellacy","startTime":1521.988,"endTime":1523.188,"body":"there's both right now."},{"speaker":"Brennan Spellacy","startTime":1523.188,"endTime":1527.1580000000001,"body":"So both reporting functionality in"},{"speaker":"Brennan Spellacy","startTime":1523.188,"endTime":1527.1580000000001,"body":"the dashboard itself where you can"},{"speaker":"Brennan Spellacy","startTime":1527.663,"endTime":1530.693,"body":"see what basic visualizations we have"},{"speaker":"Brennan Spellacy","startTime":1527.663,"endTime":1530.693,"body":"in the patch platform, where you can"},{"speaker":"Brennan Spellacy","startTime":1530.693,"endTime":1533.9930000000002,"body":"also just export all of your data and"},{"speaker":"Brennan Spellacy","startTime":1530.693,"endTime":1533.9930000000002,"body":"do whatever you like with it, load it"},{"speaker":"Brennan Spellacy","startTime":1533.9930000000002,"endTime":1537.933,"body":"into Tableau dashboard maybe visualize"},{"speaker":"Brennan Spellacy","startTime":1533.9930000000002,"endTime":1537.933,"body":"it and Excel, or Google sheets."},{"speaker":"Brennan Spellacy","startTime":1538.2430000000002,"endTime":1541.2730000000001,"body":"And we also have a series of API so"},{"speaker":"Brennan Spellacy","startTime":1538.2430000000002,"endTime":1541.2730000000001,"body":"you can plug directly into, and that's"},{"speaker":"Brennan Spellacy","startTime":1541.2730000000001,"endTime":1545.0230000000001,"body":"actually what, a lot of the way some"},{"speaker":"Brennan Spellacy","startTime":1541.2730000000001,"endTime":1545.0230000000001,"body":"chief sustainability officers actually"},{"speaker":"Brennan Spellacy","startTime":1545.028,"endTime":1548.173,"body":"interact with Patch is not directly"},{"speaker":"Brennan Spellacy","startTime":1545.028,"endTime":1548.173,"body":"through Patch, but through what's called"},{"speaker":"Brennan Spellacy","startTime":1548.173,"endTime":1551.1000000000001,"body":"a carbon accounting platform, which"},{"speaker":"Brennan Spellacy","startTime":1548.173,"endTime":1551.1000000000001,"body":"there are essentially these software"},{"speaker":"Brennan Spellacy","startTime":1551.1000000000001,"endTime":1554.55,"body":"systems that help you understand what the"},{"speaker":"Brennan Spellacy","startTime":1551.1000000000001,"endTime":1554.55,"body":"carbon emissions of your business are."},{"speaker":"Tom Raftery","startTime":1554.88,"endTime":1555.3300000000002,"body":"Interesting."},{"speaker":"Tom Raftery","startTime":1555.66,"endTime":1556.05,"body":"Interesting."},{"speaker":"Tom Raftery","startTime":1556.14,"endTime":1557.67,"body":"Cool, cool."},{"speaker":"Tom Raftery","startTime":1557.8500000000001,"endTime":1561.3600000000001,"body":"We are coming towards the end of the"},{"speaker":"Tom Raftery","startTime":1557.8500000000001,"endTime":1561.3600000000001,"body":"podcast now, Brennan, is there any"},{"speaker":"Tom Raftery","startTime":1561.3600000000001,"endTime":1565.68,"body":"question I haven't asked you that"},{"speaker":"Tom Raftery","startTime":1561.3600000000001,"endTime":1565.68,"body":"you wish I had, or any aspect of"},{"speaker":"Tom Raftery","startTime":1565.68,"endTime":1568.02,"body":"this, we've not touched on that you"},{"speaker":"Tom Raftery","startTime":1565.68,"endTime":1568.02,"body":"think it's important to highlight?"},{"speaker":"Brennan Spellacy","startTime":1569.154,"endTime":1571.307,"body":"Yeah, you know, I think"},{"speaker":"Brennan Spellacy","startTime":1569.154,"endTime":1571.307,"body":"there's kind of two elements here, which"},{"speaker":"Brennan Spellacy","startTime":1571.307,"endTime":1573.104,"body":"is the key with fighting climate change."},{"speaker":"Brennan Spellacy","startTime":1573.749,"endTime":1576.209,"body":"In general is really"},{"speaker":"Brennan Spellacy","startTime":1573.749,"endTime":1576.209,"body":"all about pie expansion."},{"speaker":"Brennan Spellacy","startTime":1576.269,"endTime":1579.989,"body":"And we saw this recently pass with the"},{"speaker":"Brennan Spellacy","startTime":1576.269,"endTime":1579.989,"body":"inflation reduction act here in the US."},{"speaker":"Brennan Spellacy","startTime":1580.3590000000002,"endTime":1582.8790000000001,"body":"The things that have been going on in"},{"speaker":"Brennan Spellacy","startTime":1580.3590000000002,"endTime":1582.8790000000001,"body":"Europe have been phenomenal as well."},{"speaker":"Brennan Spellacy","startTime":1582.8790000000001,"endTime":1587.1090000000002,"body":"And there's just an element of really"},{"speaker":"Brennan Spellacy","startTime":1582.8790000000001,"endTime":1587.1090000000002,"body":"making sure we don't fall into this"},{"speaker":"Brennan Spellacy","startTime":1587.1090000000002,"endTime":1592.284,"body":"pattern of essentially like  zero"},{"speaker":"Brennan Spellacy","startTime":1587.1090000000002,"endTime":1592.284,"body":"sum mindset that has historically"},{"speaker":"Brennan Spellacy","startTime":1592.284,"endTime":1595.344,"body":"been the case when trying to operate"},{"speaker":"Brennan Spellacy","startTime":1592.284,"endTime":1595.344,"body":"sustainably in the last two decades."},{"speaker":"Brennan Spellacy","startTime":1595.674,"endTime":1598.684,"body":"And that's actually a very difficult"},{"speaker":"Brennan Spellacy","startTime":1595.674,"endTime":1598.684,"body":"reprogramming to go through."},{"speaker":"Brennan Spellacy","startTime":1599.034,"endTime":1604.4940000000001,"body":"Historically, this was an initiative,"},{"speaker":"Brennan Spellacy","startTime":1599.034,"endTime":1604.4940000000001,"body":"or a project,  or a goal that"},{"speaker":"Brennan Spellacy","startTime":1604.4940000000001,"endTime":1605.73,"body":"was not considered critical."},{"speaker":"Brennan Spellacy","startTime":1606.2240000000002,"endTime":1609.704,"body":"Even, you know, though Al gore"},{"speaker":"Brennan Spellacy","startTime":1606.2240000000002,"endTime":1609.704,"body":"did his thing two decades ago."},{"speaker":"Brennan Spellacy","startTime":1610.094,"endTime":1613.064,"body":"It wasn't really taken seriously"},{"speaker":"Brennan Spellacy","startTime":1610.094,"endTime":1613.064,"body":"into the last couple of the years."},{"speaker":"Brennan Spellacy","startTime":1613.064,"endTime":1615.794,"body":"And as a result, the people who've been"},{"speaker":"Brennan Spellacy","startTime":1613.064,"endTime":1615.794,"body":"fighting, the good fight that entire"},{"speaker":"Brennan Spellacy","startTime":1615.834,"endTime":1619.304,"body":"time have always been focused on,"},{"speaker":"Brennan Spellacy","startTime":1615.834,"endTime":1619.304,"body":"well, how do we make this trade off?"},{"speaker":"Brennan Spellacy","startTime":1619.334,"endTime":1623.834,"body":"Like on this one particular dollar at the"},{"speaker":"Brennan Spellacy","startTime":1619.334,"endTime":1623.834,"body":"margin and the exercise we're always going"},{"speaker":"Brennan Spellacy","startTime":1623.834,"endTime":1628.074,"body":"through is instead of worrying, how are"},{"speaker":"Brennan Spellacy","startTime":1623.834,"endTime":1628.074,"body":"we gonna allocate this 10 billion dollars?"},{"speaker":"Brennan Spellacy","startTime":1628.124,"endTime":1630.034,"body":"How do we make it a"},{"speaker":"Brennan Spellacy","startTime":1628.124,"endTime":1630.034,"body":"hundred billion dollars?"},{"speaker":"Brennan Spellacy","startTime":1630.284,"endTime":1634.2740000000001,"body":"Because at the end of the day, we need"},{"speaker":"Brennan Spellacy","startTime":1630.284,"endTime":1634.2740000000001,"body":"to try a thousand things, cuz a hundred"},{"speaker":"Brennan Spellacy","startTime":1634.2740000000001,"endTime":1635.7440000000001,"body":"are going to work and 10 are gonna scale."},{"speaker":"Brennan Spellacy","startTime":1636.164,"endTime":1638.294,"body":"And that's, I think something that's"},{"speaker":"Brennan Spellacy","startTime":1636.164,"endTime":1638.294,"body":"really, really important for us"},{"speaker":"Brennan Spellacy","startTime":1638.294,"endTime":1641.9840000000002,"body":"to understand and we are not going"},{"speaker":"Brennan Spellacy","startTime":1638.294,"endTime":1641.9840000000002,"body":"to understand the secondary and"},{"speaker":"Brennan Spellacy","startTime":1641.9840000000002,"endTime":1645.554,"body":"tertiary effects of either climate"},{"speaker":"Brennan Spellacy","startTime":1641.9840000000002,"endTime":1645.554,"body":"change or solutions that affect"},{"speaker":"Brennan Spellacy","startTime":1645.554,"endTime":1646.874,"body":"climate change, unless we try them."},{"speaker":"Brennan Spellacy","startTime":1647.324,"endTime":1650.354,"body":"And I think if we're focusing just on"},{"speaker":"Brennan Spellacy","startTime":1647.324,"endTime":1650.354,"body":"the chalkboard or the whiteboard, if"},{"speaker":"Brennan Spellacy","startTime":1650.354,"endTime":1653.894,"body":"you will, on trying to predict what"},{"speaker":"Brennan Spellacy","startTime":1650.354,"endTime":1653.894,"body":"is the exact right capital allocation"},{"speaker":"Brennan Spellacy","startTime":1653.894,"endTime":1656.954,"body":"of day one, it's gonna make it so"},{"speaker":"Brennan Spellacy","startTime":1653.894,"endTime":1656.954,"body":"that it has to be right, because we're"},{"speaker":"Brennan Spellacy","startTime":1656.959,"endTime":1658.424,"body":"losing time every day that goes by."},{"speaker":"Brennan Spellacy","startTime":1658.604,"endTime":1661.934,"body":"And so I think the one thing I"},{"speaker":"Brennan Spellacy","startTime":1658.604,"endTime":1661.934,"body":"wanna leave everyone with on this"},{"speaker":"Brennan Spellacy","startTime":1661.934,"endTime":1665.4740000000002,"body":"chat is really how do we focus on"},{"speaker":"Brennan Spellacy","startTime":1661.934,"endTime":1665.4740000000002,"body":"just getting more investment in"},{"speaker":"Brennan Spellacy","startTime":1665.4740000000002,"endTime":1667.814,"body":"aggregate and placing more bets."},{"speaker":"Brennan Spellacy","startTime":1667.814,"endTime":1671.294,"body":"And then once we actually have clarity on"},{"speaker":"Brennan Spellacy","startTime":1667.814,"endTime":1671.294,"body":"what truly works and what doesn't, then"},{"speaker":"Brennan Spellacy","startTime":1671.294,"endTime":1673.184,"body":"we can actually double and triple down."},{"speaker":"Brennan Spellacy","startTime":1673.5240000000001,"endTime":1677.054,"body":"We've done that with, you know,"},{"speaker":"Brennan Spellacy","startTime":1673.5240000000001,"endTime":1677.054,"body":"renewables in globally so far where"},{"speaker":"Brennan Spellacy","startTime":1677.294,"endTime":1681.284,"body":"like global investment in renewables is"},{"speaker":"Brennan Spellacy","startTime":1677.294,"endTime":1681.284,"body":"like something like three or 400 times"},{"speaker":"Brennan Spellacy","startTime":1681.434,"endTime":1683.384,"body":"that of any sort of carbon abatement."},{"speaker":"Brennan Spellacy","startTime":1683.564,"endTime":1686.174,"body":"We know that works, but we haven't"},{"speaker":"Brennan Spellacy","startTime":1683.564,"endTime":1686.174,"body":"really figured out what are those"},{"speaker":"Brennan Spellacy","startTime":1686.179,"endTime":1687.794,"body":"carbon abatement strategies at scale."},{"speaker":"Brennan Spellacy","startTime":1687.799,"endTime":1689.7740000000001,"body":"And that's going to be"},{"speaker":"Brennan Spellacy","startTime":1687.799,"endTime":1689.7740000000001,"body":"one fifth of the problem."},{"speaker":"Brennan Spellacy","startTime":1690.2240000000002,"endTime":1692.5040000000001,"body":"And so eventually it's gonna have"},{"speaker":"Brennan Spellacy","startTime":1690.2240000000002,"endTime":1692.5040000000001,"body":"to be one fifth of the investment."},{"speaker":"Brennan Spellacy","startTime":1693.074,"endTime":1695.194,"body":"So  something for us to keep in"},{"speaker":"Brennan Spellacy","startTime":1693.074,"endTime":1695.194,"body":"mind and keep an eye out for."},{"speaker":"Tom Raftery","startTime":1695.544,"endTime":1695.854,"body":"Nice."},{"speaker":"Tom Raftery","startTime":1696.144,"endTime":1696.4940000000001,"body":"Nice."},{"speaker":"Tom Raftery","startTime":1696.519,"endTime":1696.819,"body":"Cool."},{"speaker":"Tom Raftery","startTime":1697.549,"endTime":1697.8790000000001,"body":"Brennan."},{"speaker":"Tom Raftery","startTime":1697.904,"endTime":1702.459,"body":"If people want to know more about"},{"speaker":"Tom Raftery","startTime":1697.904,"endTime":1702.459,"body":"yourself or about Patch or any of the"},{"speaker":"Tom Raftery","startTime":1702.459,"endTime":1705.659,"body":"things we discussed in the podcast today,"},{"speaker":"Tom Raftery","startTime":1702.459,"endTime":1705.659,"body":"where would you have me direct them?"},{"speaker":"Brennan Spellacy","startTime":1706.297,"endTime":1707.617,"body":"So if you"},{"speaker":"Brennan Spellacy","startTime":1706.297,"endTime":1707.617,"body":"wanna learn more about Patch,"},{"speaker":"Brennan Spellacy","startTime":1707.622,"endTime":1710.517,"body":"you can go to P A T C H.I O."},{"speaker":"Brennan Spellacy","startTime":1710.827,"endTime":1713.797,"body":"That's our website to learn a"},{"speaker":"Brennan Spellacy","startTime":1710.827,"endTime":1713.797,"body":"little bit more about Patch, and"},{"speaker":"Brennan Spellacy","startTime":1713.797,"endTime":1717.467,"body":"then, I'm on Twitter and my DMs"},{"speaker":"Brennan Spellacy","startTime":1713.797,"endTime":1717.467,"body":"are open I respond,  fairly often."},{"speaker":"Brennan Spellacy","startTime":1718.352,"endTime":1719.992,"body":"I think I'm the only Brennan Spellacy."},{"speaker":"Brennan Spellacy","startTime":1720.0720000000001,"endTime":1723.162,"body":"I'm technically BSpellacy with an"},{"speaker":"Brennan Spellacy","startTime":1720.0720000000001,"endTime":1723.162,"body":"underscore at the end because someone"},{"speaker":"Brennan Spellacy","startTime":1723.162,"endTime":1726.5320000000002,"body":"is squatting on just BSpellacy,"},{"speaker":"Brennan Spellacy","startTime":1723.162,"endTime":1726.5320000000002,"body":"so most responsive on Twitter."},{"speaker":"Brennan Spellacy","startTime":1726.592,"endTime":1728.152,"body":"I'm pretty bad on any other social."},{"speaker":"Tom Raftery","startTime":1728.527,"endTime":1728.797,"body":"Okay."},{"speaker":"Tom Raftery","startTime":1728.977,"endTime":1730.297,"body":"Super Brennan that's been great."},{"speaker":"Tom Raftery","startTime":1730.297,"endTime":1731.9070000000002,"body":"Thanks a million for coming"},{"speaker":"Tom Raftery","startTime":1730.297,"endTime":1731.9070000000002,"body":"on the podcast today."},{"speaker":"Brennan Spellacy","startTime":1733.047,"endTime":1733.4170000000001,"body":"Awesome."},{"speaker":"Brennan Spellacy","startTime":1733.4370000000001,"endTime":1734.3020000000001,"body":"Thank you so much, Tom."},{"speaker":"Brennan Spellacy","startTime":1734.3020000000001,"endTime":1735.232,"body":"Really appreciate the time."},{"speaker":"Tom Raftery","startTime":1737.115,"endTime":1738.855,"body":"Okay, we've"},{"speaker":"Tom Raftery","startTime":1737.115,"endTime":1738.855,"body":"come to the end of the show."},{"speaker":"Tom Raftery","startTime":1739.2150000000001,"endTime":1740.295,"body":"Thanks everyone for listening."},{"speaker":"Tom Raftery","startTime":1740.9850000000001,"endTime":1744.525,"body":"If you'd like to know more about"},{"speaker":"Tom Raftery","startTime":1740.9850000000001,"endTime":1744.525,"body":"Climate 21, feel free to drop me an"},{"speaker":"Tom Raftery","startTime":1744.525,"endTime":1749.625,"body":"email to Tom dot Raftery @ sap.com or"},{"speaker":"Tom Raftery","startTime":1744.525,"endTime":1749.625,"body":"connect with me on LinkedIn or Twitter."},{"speaker":"Tom Raftery","startTime":1750.435,"endTime":1752.9850000000001,"body":"If you liked the show, please don't"},{"speaker":"Tom Raftery","startTime":1750.435,"endTime":1752.9850000000001,"body":"forget to subscribe to it in your"},{"speaker":"Tom Raftery","startTime":1752.9850000000001,"endTime":1756.9750000000001,"body":"podcast application of choice to get new"},{"speaker":"Tom Raftery","startTime":1752.9850000000001,"endTime":1756.9750000000001,"body":"episodes as soon as they're published."},{"speaker":"Tom Raftery","startTime":1757.635,"endTime":1760.845,"body":"Also, please don't forget to"},{"speaker":"Tom Raftery","startTime":1757.635,"endTime":1760.845,"body":"rate and review the podcast."},{"speaker":"Tom Raftery","startTime":1760.845,"endTime":1763.665,"body":"It really does help new"},{"speaker":"Tom Raftery","startTime":1760.845,"endTime":1763.665,"body":"people to find the show."},{"speaker":"Tom Raftery","startTime":1764.4750000000001,"endTime":1766.7450000000001,"body":"Thanks catch you all next time."}]}