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Environmental sustainability is a top priority for business leaders around the world. For example, in a global effort to combat climate change, companies like FedEx, Amazon and Walmart have even pledged to become carbon neutral by 2040.
Reducing emissions, however, is a daunting task to tackle, especially if you’re trying to maintain profit margins and navigate ever-changing regulations. According to companies surveyed by Boston Consulting Group, more than 90% of companies measure emissions incorrectly, and less than a third of companies in the US choose to voluntarily disclose their emissions.
Startups like Sweep, which recently secured $73 million in Series B funding, are trying to make it possible to create a greener, cleaner environment by leveraging the power of business intelligence data. Founded in 2020, Sweep is a carbon emissions management platform designed to help organizations calculate, track and reduce their carbon footprint.
Why self-reported emissions don’t work?
Traditionally, many industrial sectors self-reported their emissions, resulting in data that was often incomplete, outdated and in some cases completely falsified. This meant that when policymakers and committees met for critical climate negotiations, they would be working with information that didn’t tell the whole story.
“Sweep does more than measure CO2 emissions. We give companies the tools to accurately track their progress so they can build science-based, data-driven climate programs with secure, reliable and consistent data,” said Rachel Delacour, CEO and co-founder of Sweep.
But the path to net-zero requires more than error-free data. If an organization wants to organize its reduction at scale, it can no longer rely solely on business intelligence and Excel sheets. They need a comprehensive overview of their direct and indirect emissions, as well as the means to share that data and visualize how their changes are making a difference in the long run.
“As more companies continue to make zero carbon commitments, stakeholders must find a way to hold them accountable. This means that we can no longer trade in silos. Insights from Sweep will become indispensable to achieve global carbon neutrality,” said Delacour.
Supporting the vision on climate change
Over the past year, Sweep has raised $100 million to bolster the capacity of its platform and enable companies to achieve their climate goals more efficiently and cost-effectively. In fact, the Sweep team’s shared vision of corporate climate action is recognized internationally as they are part of the World Bank’s Carbon Pricing Leadership Coalition and a founding member of Climate Dividends.
The effects of climate change continue to ripple across the planet, and businesses in all sectors need to be motivated to do their part and curb emissions. While many of today’s carbon reduction efforts are blocked by complex technologies, Sweep is one of the first tools of its kind to put automation, connectivity and collaboration at the heart of its platform, making net zero of an empty platitude a reality.
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This post How Sweep helps companies calculate, track and reduce their carbon emissions
was original published at “https://venturebeat.com/2022/04/05/how-sweep-helps-enterprises-calculate-track-and-reduce-their-carbon-emissions/”