Amsterdam-based Treety, an ESG reporting, monitoring & compliance solution for alternative asset managers, has secured fresh funding from venture capital firm Arket Ventures.

With this funding, Treety plans to expand its capabilities, furthering its mission to empower businesses and investors to integrate sustainability into their decision-making processes.

Resolving ESG data challenges

Founded in 2020 by Mike van Wijhe and Hatim Baheranwala, Treety was inspired by the Japanese concept of *Ikigai*—combining passion and purpose. 

The platform uses AI to help investors and companies track, measure, and report the environmental and social impacts of their portfolios. 

The platform provides solutions that allow fund managers and portfolio companies to align with evolving regulatory frameworks such as the Sustainable Finance Disclosure Regulation (SFDR), a key piece of EU legislation aimed at promoting transparency in sustainability.

Treety envisions a new form of capitalism where profit, people, and the planet are equally valued, guiding investors toward a more sustainable future.

Arket Ventures, in a LinkedIn post, says, “We believe in Treety’s vision and are thrilled to support their journey as they continue to innovate and create value. Looking forward to a fruitful partnership with founders Hatim Baheranwala, Mike van Wijhe and their team and the positive impact we can achieve together!”

Brief about Arket Ventures

Arket Ventures is a VC firm specialising in seed funding, with investment ranges between €250,000 and €500,000. With over 20 years of entrepreneurial expertise in positioning, strategy, creation, and production, the firm supports startups and scale-ups during the go-to-market phase.

Leveraging knowledge, experience, networks, and capital, Arket Ventures helps transform promising ideas into sustainable businesses. The firm’s partners focus on empowering founders to build strong brands and markets.

Strasbourg-based Aerleum, a climate tech company specialising in CO2 capture and utilisation, has secured $6M (approximately €5.49M) in a seed round of funding. 

The investment was led by 360 Capital and HTGF, with participation from Norrsken, Bpifrance, and Marble.

“Aerleum’s vision is to transform industries and create a circular carbon economy, where the CO2 present in the air becomes the resource,” says Steven Bardey, co-founder and CTO of Aerleum.

Decarbonising hard-to-abate industry

Founded in 2023 by Steven Bardey and Sébastien Fiedorow, as a spin-out from the venture studio Marble, Aerleum has created a new technology that captures and converts CO2 in one step, using special materials and precise heating.

This method reduces energy use and allows for the large-scale production of e-fuels and chemicals at competitive prices while significantly lowering greenhouse gas emissions.

Aerleum aims to match fossil fuel prices faster than other companies, giving industries like shipping, aviation, and chemicals a practical way to reduce carbon emissions without raising costs. 

This innovation is designed to work globally, making it easier to source low-carbon hydrogen and providing a real alternative to fossil fuels.

Currently, Aerleum is focusing on e-methanol, a clean and energy-rich fuel that is becoming an important alternative for the maritime and aviation sectors. E-methanol helps reduce greenhouse gas emissions and air pollutants while being easy to transport and store since it stays liquid at room temperature.

Capital utilisation

Aerleum will use the funds to accelerate the industrialisation of its technology, which converts atmospheric CO2 and low-carbon hydrogen into synthetic fuels (e-fuels) and chemicals. The company aims to help hard-to-abate sectors achieve carbon neutrality. 

Aerleum will also launch its first full-scale pilot unit and collaborate with industry partners and customers to deploy its emissions-reducing technology in key sectors.

Sébastien Fiedorow, co-founder and CEO of Aerleum, says, “Our mission has been clear since the beginning: to make e-fuels as affordable and accessible as fossil fuels.”

“With this seed round, we’re taking a major step forward in scaling our technology to meet the urgent demand for decarbonisation. We’re here to reshape entire industries, enabling them to achieve net-zero emissions faster and more efficiently.”

What do the investors have to say?

According to Aerleum, it has received funding from Bpifrance and the Région Grand Est, which has been crucial in achieving its milestones. 

The company is also being accelerated through programmes like Accelair by Air Liquide, ZEBOX by CMA CGM, and Semia, helping to scale its solutions.

Alexandre Mordacq and François Tison from 360 Capital, say, “We were seduced by Aerleum’s vision of a world where petroleum would be replaced by the CO2 present in the air – a vision rooted in reality as demonstrated by their first systems, and their economically sound business model opening the way to large scale applications.”

Timo Bertsch from HTGF, adds, “What truly sets Aerleum apart is the powerful combination of breakthrough technology and an audacious vision to replace environmentally harmful chemicals like methanol with a sustainable, carbon-neutral alternative.”

“This vision aligns perfectly with HTGF’s commitment to fostering innovation that not only drives business growth but also contributes to a healthier planet. In just one year, the team has demonstrated remarkable speed and execution, achieving significant technical milestones that highlight their capacity to scale rapidly. We are excited to support Aerleum on the next stage of their journey.”

HTGF is an early-stage investor in Germany and Europe, supporting startups in sectors like deeptech, climatetech, and Life Sciences. With over €2B under management, HTGF invests primarily in pre-seed and seed stages but can also join later-stage rounds. Since 2005, the firm has financed over 750 startups and exited over 180.

Nordic-Dutch climate-tech startup Paebbl has raised $25M (approximately €22.81M) in a Series A funding round. The company turns captured CO2 into permanent carbon-storing materials. 

The funding will help the company build a sustainable value chain for CO2 storage, positioning the construction industry as a key player in mitigating climate change.

The funding round was led by financial and strategic investors, including DACH-focused VC Capnamic, with new investors such as The Climate Pledge Fund (Amazon), sustainable building solutions provider Holcim, and several European industrial family offices like Aurum Impact, the family office of Goldbeck.

Existing Paebbl investors 2050, Pale Blue Dot, and the Grantham Foundation also participated.

Paebbl co-founder and co-CEO, Andreas Saari says, “We are thrilled to welcome early mover leaders in their respective fields, Amazon and Holcim, as first commercial partners that will help bring our vision to the market rapidly; aligning interests is at the core of our go-to-market model.”

“We have the chance to turn the built environment into the world’s greatest carbon sink, having taken a natural process, innovated upon it, and turned it into a commercially viable, scalable service.”

“With new investors on board, we can enter the next stage of our growth. To go from bench to pilot to demo in less than 18 months shows our team’s ability to move at the speed necessary to win,” adds Saari.

Combating global warming

Founded in 2021 by Andreas Saari, Jane Walerud, Pol Knops and Marta Sjögren, Paebbl turns captured CO2 into building materials that store carbon permanently. Its goal is to create a large-scale carbon removal solution within the next decade.

The company claims that its mineralisation process is nature-inspired and tech-enabled. 

Paebbl is a joint effort between Nordic and Dutch partners and is supported by eco-focused investors like Capnamic, Amazon’s Climate Pledge Fund, 2050.do, Pale Blue Dot, Aurum Impact, and the Grantham Foundation.

The company is collaborating with major companies like Amazon, Holcim, and Goldbeck to speed up the development of buildings that store carbon and set new standards for sustainable construction. 

In 18 months, Paebbl progressed from lab tests to a pilot unit that produces 250kg of CO2-storing material daily. 

In May 2024, Paebbl achieved a milestone by sequestering its first ton of CO2 and casting its first concrete structures using captured carbon, demonstrating the practical impact of its technology.

Capnamic’s Managing Partner, Christian Knott, says, “What sets Paebbl apart from other companies in the space is their demonstrable ability, across the senior team, to build and scale companies, and execute where it matters.”

“For a young deep tech company, they already have rapidly won multiple customers and key partners, and have a continual stream of exceptional people joining the company.”

Capital utilisation

With the fresh funding, Paebbl aims to commission its demonstration plant in the first half of 2025. This facility will increase production capacity tenfold, enabling the company to produce 3 tons of product daily and sequester up to one ton of CO2 each day. 

The demonstration plant will serve as a foundation for the future commercial deployment of Paebbl’s technology, leading to plans for a commercial-scale plant. 

Additionally, Paebbl will expand its existing hubs in Helsinki, Rotterdam and Stockholm while opening a new hub in the UK.

Co-founder and co-CEO, Sjögren, says, “We’re incredibly proud of the progress we’ve made in such a short time, but there’s so much more to come. This funding enables us to take even bolder steps in our mission to make the built environment a cornerstone of the decarbonised economy. The challenge ahead is significant but so is the upside and opportunity.”

Augsburg-based Reonic, a climate tech SaaS startup, has secured €13M in a Series A round of funding. The round, led by Northzone, also includes contributions from existing investors Point Nine and Puzzle Ventures.

Northzone mentions in a statement that Europe has over 200,000 SMEs specialising in renewable energy technology installation for buildings, but these businesses often struggle with outdated, non-specialised software. 

Reonic addresses this gap with its end-to-end software suite, offering solutions for lead management, CRM, project design, procurement, and billing. 

Founded in 2021 by Tristan Menzinger, Lars-Manuel Schneider, and Udo Sill, Reonic is a climate tech SaaS company that began as a side project and grew into a full-fledged business due to high demand from installers for a tailored digital solution.

The company’s software serves as an end-to-end operating system, streamlining workflows and supporting over 200,000 regional installers across Europe to drive the energy transition.

Funds to expand across Europe

Reonic aims to advance the deployment of sustainable energy solutions across Europe. With offices in Augsburg and Berlin, the startup has raised a total of €16M, including the latest round.

The company, which recently opened a second office in Berlin, claims to have tripled its recurring revenue in the past six months.

The funds will help the startup expand into neighbouring European markets, starting with France, enter the commercial PV market and cover heat pumps and energy storage systems. Reonic will also support further growth of its team, which currently has 21 members.

Co-founder Schneider, says, “Renewable technologies are one of the fastest growing markets in Europe, which is almost exclusively served by independent installers across the continent, which almost always lack digital tooling.

“Our goal is to enable these installers to compete, grow, and win. First, by creating best-in-class software as the backbone of their workflows. And second, by offering adjacent services in procurement, payment, financing, and beyond.”

“Though we’ve had some real momentum since we started the business three years ago, in truth, we feel like we’re just getting started. We couldn’t be happier having Northzone, Point Nine, and Puzzle Ventures in our corner to help propel us, and our customers, to the next level,” adds Schneider.

What the investors had to say?

Markus Gleim, Principal at Northzone, says, “The energy transition is one of the most significant challenges and opportunities of our time. Reonic is at the forefront of this movement, offering a solution that not only simplifies the adoption of renewable technologies, but one that also drives significant progress towards a more sustainable future.”

Jessica Schultz, Partner at Northzone, adds, “Reonic’s end-to-end software is precisely what installers have been searching for. It streamlines workflows and provides the digital tools necessary to manage the increasing complexity of renewable energy projects.”

“We believe that the team with their complementary skillset is uniquely positioned to build the category-leading software solution in this space. We are excited to support Reonic as they continue to innovate and empower installers across Europe.”

Eindhoven-based Carbyon, a Direct Air Capture (DAC) startup whose goal is to create affordable and scalable technology to stop climate change, announced that it raised €15.3M in a Series A funding round. This brings the company’s total investment to over €25M.

Carbyon’s technology captures CO2 from the atmosphere, reducing costs and enhancing scalability.

Investors supporting Carbyon

The round saw investment from new investors, including Siemens Financial Services, Omnes Capital, and Global Cleantech Capital, joined by existing backers Invest-NL, Innovation Industries, Lowercarbon Capital, and the Brabant Development Agency (BOM).

Andy Bown, Head of Negative Emissions Technologies Investments from Siemens Financial Services, says, “We are very pleased to be able to support Carbyon as it moves forward with the development of innovative and affordable technology to capture CO2 directly from the atmosphere.”

“We stand ready to offer our financial expertise and access to Siemens’ broad portfolio of solutions to support Carbyon in its journey to deploy DAC systems at scale.”

Aiming to restore the atmospheric carbon balance

Carbyon, founded by Hans De Neve in 2019, is a Dutch startup specialising in direct air capture (DAC) technology to filter CO2 from the atmosphere for underground storage or conversion into sustainable products. 

The company claims to achieve an “industry-leading” low cost-per-ton of CO2 captured using a patented, “ultra-fast” capturing technique. 

A spin-off from TNO and winner of the $1M Milestone Award at the XPRIZE Carbon Removal, Carbyon aims to offer affordable and scalable solutions for climate change mitigation.

In November 2023, Carbyon announced that its fast-swing process for Direct Air Capture (DAC) has successfully captured CO2 using less than 2,500 kWh/ton. This made Carbyon the first to significantly lower CAPEX costs for DAC equipment and reduce energy consumption, advancing toward a cost-effective DAC technology below $100/ton.

Capital utilisation

The fund will help Carbyon to develop engineering-scale outdoor demonstrators and initiate market preparations.

The first models will be tested at High Tech Campus Eindhoven and with pilot partners, while the company plans to scale up production to 50,000 machines per year by 2031, aiming for gigaton-scale operations by 2050.

Carbyon founder, Hans De Neve says, “This new investment brings us much more than the financial resources to continue our growth.”

“Our partners have the required manufacturing and scaling knowledge we need to rapidly but responsibly scale our technology. This consortium is a dream scenario and is highly motivating to continue with our mission.”

London-based Signol, a sustainability startup that uses behavioural science to decarbonise hard-to-abate industries, has secured £2.5M (approximately €2.96M) in a seed extension round funding led by TMV, a New York-based VC firm.

The UK-based company’s tech-driven service focuses on engaging the human workforce in hard-to-abate industries to maximise emission reduction opportunities through everyday tasks.

Investors supporting Signol

Besides TMV, the round also saw participation from global ship operator Ultranav, MOL PLUS (the venture arm of Mitsui O.S.K. Lines, Ltd.), and London-based East Innovate, which led Signol’s previous funding round and has reinvested.

TMV’s co-founder and general partner, Marina Hadjipateras says, “It’s crucial that we invest in solutions which can have an immediate impact to improve the sustainability and efficiency of legacy industries like shipping.”

“There’s always a human factor when it comes to transforming industries – especially in maritime, whose overall market size is valued at over $152B and which is responsible for 90 per cent of the way in which goods are transported. Signol harnesses the real power of people to shift operational behaviour and culture towards more sustainable practices.”

Hadjipateras adds, “We believe this approach can extend to multiple verticals beyond aviation and shipping, making it an attractive investment case, particularly given Signol’s plans to explore how AI can further empower individuals to perform their jobs as efficiently and effectively as possible. 

“This use of AI will maximise the potential of human decision-making and increase the value of the human workforce.”

Capital utilisation

With this funding, Signol plans to enhance its solution and expand its presence in the aviation and shipping industries. It will also launch a proof-of-concept (POC) in the corporate travel sector, aiming to reduce avoidable emissions from business travel through behaviour change.

Michael Fanning, Signol’s CEO, says, “Securing investment from industry-leading companies like Ultranav and MOL is a significant endorsement from the maritime industry that our human-centric approach is seen as a critical lever in companies’ sustainability strategies.”

“Adding Marina Hadjipateras and Per Lange to Signol’s board is another huge benefit. They bring a wealth of investment and industry experience coupled with great enthusiasm for Signol’s purpose, which I am confident will serve to accelerate Signol’s growth and impact.”

Brief about Signol

Signol is a sustainability-focused behaviour change service targeting the maritime and aviation sectors. By using advanced data and behavioural science, Signol motivates employees to make more sustainable decisions. 

Its scalable communications platform applies behaviour change techniques to lower barriers that prevent crew members from saving fuel. 

The company has already helped aviation and shipping clients save $25M in fuel costs and cut 100,000 metric tonnes of CO2 by optimising human decision-making, resulting in up to 1 per cent fuel savings in aviation and 12 per cent in shipping, all without technological or physical modifications to ships or aircraft.

CEO of Ultranav, Per Lange, adds, “Ultranav is delighted to support Signol’s efforts to ensure the shipping industry doesn’t overlook the power of its human workforce as we tackle the urgent need to decarbonise.”

“During my 40+ year maritime career, I’ve seen first-hand that it’s not always straightforward to appropriately engage crew members in efficiency initiatives without adding to their workload and mental stress.

“With a strong foundation in behavioural science, Signol’s solution enables crew members to contribute as much as possible to sustainability goals while also improving the day-to-day experience at sea for our vital workforce.”

Amsterdam-based Carbon Equity, a climate venture capital and private equity investment platform, announced on Friday that it has launched a new fund — Climate Infrastructure Fund I.

The fund is focused on investing in climate infrastructure projects like hydrogen and biogas production facilities, solar parks, sustainable transmission systems, EV charging stations, and battery storage systems.

The investors can invest in these projects with a minimum of €100,000.

At the first close of the Climate Infrastructure Fund I, Carbon Equity raised €10M from existing investors and aims to grow the fund to €50M.

Jacqueline van den Ende, Co-Founder and CEO of Carbon Equity, says, “With the Climate Infrastructure Fund I, we can better serve our investors, including family offices, financial professionals, and entrepreneurs. Our core focus remains investing in climate innovation through private equity and venture capital. However, this new infrastructure fund provides our investors with a chance to further diversify their portfolios while still making a significant impact.”

“The funds we invest in typically have a high entry point, often in the millions, making them accessible primarily to professional or institutional investors. We want to make these opportunities more accessible,” adds van den Ende.

The announcement comes a couple of months after announcing the “strong first close” of its Climate Tech Portfolio Fund III at €60M.

Climate Infrastructure Fund I

Through Climate Infrastructure Fund I, Carbon Equity will invest in 3 to 5 infrastructure funds, ranging from €500M to €2.5M in size, providing investors access to 40 to 50 energy transition projects.

The primary focus will be on developing mostly new impactful projects while investing in already operational projects, which typically have lower risks and returns limited additional impact, and fall outside the fund’s main strategic focus.

The fund, classified as an SFDR Article 9 fund, will primarily invest within the EU.

This new fund differs from Carbon Equity’s Climate Tech Portfolio Funds, which invest through 7 to 10 private equity and venture capital funds, each ranging from €100M to €1B, in over 150 climate innovations spread across the EU and the US.

“The fact that the Climate Infrastructure Fund I invests in projects rolling out proven technologies means that the capital raised is deployed more quickly than in climate innovations,” explains van den Ende.

“Infrastructure projects also generate stable returns earlier, for example through offtake agreements, and have a faster impact. While the risks are still significant, they are lower than those associated with investing in climate innovations, resulting in a lower expected return. Investing in infrastructure may not be as exciting as emerging innovations, but it is equally necessary and complements venture capital and private equity in addressing climate challenges comprehensively,” adds van den Ende.

Carbon Equity: Climate investment platform

Founded by Jacqueline van den Ende, Tim Molendijk, Lara Koole, Jeff Gomez, and Liza Rubinsten, Carbon Equity allows regular investors to invest along with experts in top climate venture capital and private equity funds, with a minimum of as low as €100,000, and soon €10,000.

With its platform, the company aims to grow a highly motivated community of investors ready to fight climate change with their capital.

To date, over 900 investors have invested more than €260M through the Carbon Equity platform.

European equity funding is slightly down compared to H2 2023, but there are still plenty of reasons to be cheerful. 

According to Sifted’s H1 2024 review report, which began tracking funding rounds in late 2023, Europe is finding its footing following volatility since the heady, funding-happy days of 2021.

Highlighting the resurgence of fintech after an underwhelming 18 months, and the continued strength of climate tech, it also illustrates how The European Investment Bank was the most active investor in debt funding. 

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This demonstrates its commitment to furthering Europe’s position as a producer of cutting-edge technology, particularly in semiconductors, quantum computing, and climate tech.

Climate tech leads the way

Climate tech received a staggering €21.3B in investment in total, far outpacing other sectors, like consumer, B2B SaaS, fintech deeptech and health tech. 

However, this impressive figure is largely attributed to two monster debt rounds.

Sweden’s Northvolt and H2 Green Steel secured the most capital in H1, raising €5B and €4.75B respectively in January alone. These massive rounds underscore the appetite for investment in sustainable infrastructure and green manufacturing.

Elsewhere, in the top 10 biggest equity funding rounds list, climate-focused companies still made a very strong showing. 

Behind autonomous driving company Wayve’s record-breaking $1.05B round, battery provider Zenobē Energy secured the second-largest deal of H1, adding £410M of new debt to its existing £241m. Notably, Zenobē has bypassed traditional VC funding, instead turning to private equity and infrastructure funders.

Other significant climate tech raises include Electra electric vehicles in France (€304M in Series B), and Germany’s circular economy star, Everphone (€270M in series D).

Sweden’s Syre was yet another noteworthy H1 raiser, the textiles recycling startup announced a $100M series A round in May after launching two years ago as a tandem venture with H&M. It nabbed third place on the list of 10 biggest early-stage equity funding rounds, behind Germany’s Cloover in the green homes sector, and €200M seed funding for French AI startup, H.

Additionally, in fifth place on the same list is Kaluza, the UK energy/smart grids company which secured €92M in an undisclosed deal type.

Venture debt rising

Interestingly, venture debt is climbing among startups and scaleups in climate tech. Many founders are opting for acquiring debt over giving equity, believing giving away equity will be more expensive in the long run. Instead, these founders are opting to repay relatively high interest rates instead, a strong vote of confidence in their own business. 

Some 12% of climate tech’s growth and late-stage stage-funding rounds fall under debt deals, higher than healthtech’s 4%, B2B SaaS’s 5%, consumer’s 9% and deeptech’s 11%, all with presumably, more developed revenue models. 

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This may be attributed to the fact that while many of Europe’s futuristic climate projects are innovative, they have yet to be proven at scale. 

And despite this healthy injection of funding into climate tech, it’s not all sunshine and roses. Since funding Northolt saw a $2B order from BMW cancelled, and is now assessing the viability of some of its factories. 

However, if innovation continues at this pace and institutional pace remains, the European tech ecosystem is well-positioned to become a world leader in the climate tech space, with or ahead of its U.S. and Chinese counterparts.

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Amanda Kavanagh, content strategy, production, and writing & editing at Jobbio.

Hamburg-based Boomerang, a reusable shipping packaging company, has raised nearly €3M in a fresh round of funding. 

Following a pre-seed round of €1.1M in 2022/23, the current round attracted investment through the crowd-investing platform “Companisto”, where over €850K was raised from more than 400 investors, surpassing the €750K target by €100K. 

Additionally, at least two other investors have contributed to the funding.

In a statement translated from German, Marc Engelmann, founder and CEO of Boomerang, says, “With Companisto, we were finally able to meet the needs of the many interested parties from the small investor environment and involve them in our success story.”

“We were also able to significantly expand our network with other investors and are now benefiting from a very strong group of investors.”

Capital utilisation

With the newly raised capital, Boomerang plans to expand its sales, IT, and product development efforts while advancing its vision of more environmentally friendly shipping. 

The company also aims to raise an additional €500K through authorised capital by the end of the year.

Christian Putz, founder and COO of Boomerang, says, “Through our seed round, we received an important signal from the market: ‘Reusable packaging is relevant and an exciting business case’.”

“We are now taking up this signal and will continue to expand Boomerang as the market leader in the reusable packaging sector!”

Reusable shipping packaging

Founded in 2022 by Marc Engelmann and Christian Putz, Boomerang offers sustainable logistics solutions featuring a complete reusable system for shipping packaging.

Boomerang uses an intelligent deposit model and a return logistics system, allowing packaging to be reused up to 50 times. This approach helps online stores enhance their sustainability profile, reduce costs, and contribute to the circular economy by cutting CO2 emissions.

The company develops and operates software solutions including a digital deposit system, and provides physical packaging options like flexible PACKS and robust BOXES.

As a full-service provider, Boomerang delivers integrated solutions from a single source, serving over 60 customers and partners, including two major German companies with annual revenues exceeding €1B.

Berlin-based Root, a startup developing an operating system to help food & beverage companies manage their climate footprint, announced on Monday that it has secured €8M in a seed funding round.

The funding round was led by Christoph Janz at Point Nine, with participation from Project A, HelloWorld, Arc Investors, and a host of experienced startup operators.

The German company plans to use the funds to accelerate its growth and increase the team’s headcount.

Root: Building climate OS of the food industry

Eric Oancea and Maurice Hensl founded Root Global to help companies across the food system get to net zero.

The company does this by developing Root OS, a platform that helps companies across the food system manage their climate footprint and reduce GHG emissions.

“In the past 18 months, we have been obsessed with deeply understanding our customers and solving their most urgent pain point,” says the founding duo,

Since launching its RootOS platform in October 2023, the company claims to have onboarded some of Europe’s largest Food & Beverage players, including the largest dairy plant in Europe and the world’s largest fast-food chain.

Through them, the German company works with over 10,000 farmers to help them manage and reduce millions of tons of CO2e.

“What makes us particularly proud is that the majority of our customers discovered and started working with us thanks to strong word of mouth and industry references,” says Eric Oancea and Maurice Hensl, co-founders of Root.

Root’s strategy involves addressing one food product category at a time, helping companies measure and reduce their greenhouse gas emissions by focusing on the largest sources often found deep in their supply chain.

For example, out of Nestlé’s 113M tons of CO2e, which approximately equals all of Belgium’s GHG emissions, over 107M are emitted across their supply chain.

“Our mission is more urgent today than ever. Climate performance has become a critical business performance indicator as enterprises are now mandated to disclose their climate performance and set Net Zero targets. Some of the companies we now work with had even lost key customers due to missing climate requirements and documentation, before onboarding,” says Eric Oancea and Maurice Hensl, co-founders of Root.

“So far, we have been able to help companies assess their carbon footprint at unprecedented levels of accuracy, efficiency, and scale. We have now gradually developed to further support companies derive and initiating tangible reduction measures. We aim to demonstrate emission reduction year over year. Given we have access to the most critical data in the supply chain, we believe we have a clear and practical solution that will become industry standard for a €400bn market,” adds the founding duo.