Cool Effect
{{Short description|American nonprofit organization}}
{{Infobox organization
| image = COOL EFFECT Logo Purple.jpg
| formation = {{start date and age|2016}}
Kentfield, California
| extinction =
| type = Social enterprise
| status =
| purpose = Environmentalism
| headquarters = Greenbrae, California
| coords =
| language =
| leader_title = Founders
| leader_name = Richard and Dee Lawrence{{cite web|title=Cool Effect: Our Story|url=https://www.cooleffect.org/our-story|website=cooleffect.org|accessdate=12 April 2017}}
| website = [http://www.cooleffect.org cooleffect.org]
}}
Cool Effect is a crowdfunding platform that provides individuals the opportunity to support carbon emissions reductions by funding carbon-reducing projects around the world. Cool Effect is a registered 501(c)(3) nonprofit organization headquartered in Greenbrae, California.{{cite web|title=Cool Effect FAQ|url=https://www.cooleffect.org/content/about-us/faqs/|website=cooleffect.org|accessdate=12 April 2017|ref=1}}
Projects
The platform has compiled a portfolio of projects that support carbon emissions reductions, referred to as the “Coollection”, which is available on its website for individuals to fund. One-time donations or monthly subscription models are available, and individuals also can choose to donate to specific projects.{{cite news|last1=Yerman|first1=Marcia|title=‘Cool Effect’ Promises Carbon Reduction Solutions|url=http://www.huffingtonpost.com/marcia-g-yerman/cool-effect-promises-carb_b_12483322.html|accessdate=12 April 2017|publisher=The Huffington Post|date=17 October 2016|ref=2}}{{cite web |url=https://www.travelinho.com/en/blog/carbon-offsetting |title=Carbon offsetting |publisher=Travelinho.com |accessdate=2020-02-08 |archive-date=2020-10-19 |archive-url=https://web.archive.org/web/20201019164328/https://www.travelinho.com/en/blog/carbon-offsetting |url-status=dead }}
As of 2020, Cool Effect financed projects in the following three categories:
- Methane capturing and biogas digesters
- Efficient cookstoves
- Protecting ecosystems
Global Offset Research is a subsidiary company of Cool Effect that includes a team of scientists and financial analysts who are responsible for vetting the carbon-reducing projects. The verification process includes a financial analysis that assesses the initial and long-term feasibility of the project, as well as the amount of funds that reach the project beneficiary, and a guarantee of “Absolute Additionality”, as the scientists perform their own verification, in addition to existing industry standard verification.{{cite news|title=What's Cool About Cool Effect Carbon Reductions?|url=http://www.yaleclimateconnections.org/2016/10/whats-so-cool-about-cool-effect-carbon-reductions/|accessdate=12 April 2017|work=Yale Climate Connections|date=6 October 2016|ref=3}}
Cool Effect additionally provides the ability to download all of the documentation that their team of scientists have compiled prior to contributing, allowing individuals to obtain detailed information about the project and the findings from the vetting process.{{cite news|last1=Aldern|first1=Clayton|title=Wondering how you can do more to fight climate change? Check this out|url=http://grist.org/business-technology/wondering-how-you-can-do-more-to-fight-climate-change-check-this-out/|accessdate=12 April 2017|work=Grist|publisher=Grist|date=10 March 2016|ref=4}}
Partnerships
Cool Effect has created partnerships with GreenFaith, Natural Resources Defense Council, Presidio Graduate School, Redford Center, Wildlife Conservation Society, Salesforce.com,{{cite web|title=Salesforce’s Journey to Net-Zero Greenhouse Gas Emissions|url=https://www.salesforce.com/blog/2017/04/salesforce-net-zero-greenhouse-gas.html|website=salesforce.com|accessdate=13 April 2017}} and Yale School of Public Health. In addition to these organizations, it also works closely with actress Alysia Reiner.{{cite web|last1=Cabrera|first1=Ana|title=.@alysiareiner doesn’t need to get a message to POTUS on climate change, just the average American @cool_effect|url=https://twitter.com/AnaCabrera/status/855946581572538368|publisher=Twitter|accessdate=22 April 2017}}