Swaniti Initiative

What it reported doing in 2024

The organization received a grant to establish a sustainable and scalable model of carbon dioxide removal through enhanced rock weathering technique along with co-benefits to marginal farmers in the global south. Project mati was conceived as a pilot project in the year 2022 to address the challenges faced by marginal farmers in the context of climate change. Enhanced rock weathering (erw) holds great potential as a tool for carbon removal and empowering paddy farmers in india. Erw process offers a promising solution of crushed rocks, such as basalt, on agricultural fields. As these rocks weather over time, they naturally absorb carbon dioxide from the atmosphere and lock it away in the form of stable carbonates. The weathering of rocks releases essential minerals and nutrients into the soil, replenishing nutrient levels and improving soil health. This leads to increased nutrient availability for crops, resulting in higher yields and improved productivity for paddy farmers. Mati carbon's mission is to scale carbon dioxide removal in rice fields by enhanced weathering. The mati process leverages naturally occurring silicate rocks weathering phenomenon by accelerating the process many orders of magnitude to allow for carbon removal to occur in just a few years. Mati offers several benefits based on carbon removal in paddy agriculture fields, particularly for marginalized farmers in india. The key advantages include carbon removal, increased soil fertility, reduced need for chemical fertilizers, soil acidification mitigation and climate resilience. Mati carbon's enhanced rock weathering (erw) based carbon removal project followed a systematic methodology, ensuring efficient farmer enrollment and targeting the whole community rather than a few big farmers. Through community outreach, capacity-building, and knowledge-sharing platforms, we empowered farmers to implement erw techniques effectively and embrace sustainable agriculture practices. By adhering to a structured approach and maintaining a strong monitoring and evaluation framework, we maximized the impact of erw on carbon removal, soil fertility improvement, and crop yields, contributing to a more sustainable agricultural system and benefiting farmers and the community at large. We used a proprietary logistics platform and technology stack to enable our deployments. The following objectives were accomplished during different cropping cycles in the project area duly validating our methodologies and mrv techniques. Mati carbon project was validated as a true application of high tech mrv and latest carbon removal science in rural paddy fields which enabled farmers with better crop productivity and livelihood generation. We have been able to equip farmers with the necessary knowledge and ensured the wider dissemination of new technology for sustainable agriculture, fostering a more resilient and environmentally conscious farming community. These benefits support the sustainable development and well-being of marginalized farmers, empowering them to combat climate change and enhance their livelihood.

Financial Efficiency

• Mission deployment rate: 7.5%; rating input score 8
• Program expense ratio: 97.1%; rating input score 97
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
• Pay-setting controls: 1 of 6 controls in place; rating input score 17
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Scored; rating input score 0
• Grant itemization coverage: Scored; rating input score 0
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 66.7%; rating input score 67; 19th percentile among comparable filings
• Governance controls: 6 of 9 controls in place; rating input score 67
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: 93.4%; rating input score 99; 99th percentile among comparable filings
• Total-asset coverage ratio: 16.66; rating input score 95; 95th percentile among comparable filings
• Liabilities to assets ratio: 0.07; rating input score 86; 86th percentile among comparable filings
• Officer compensation ratio: 23.8%; rating input score 0; 0th percentile among comparable filings

Growth

• Program expense growth: 42.8% per year; rating input score 100; 98th percentile among comparable filings
• Revenue growth: 72.4% per year; rating input score 100; 99th percentile among comparable filings
• Asset growth: 75.1% per year; rating input score 100; 99th percentile among comparable filings