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Environmental sustainability is top of mind for business leaders around the world. In a global effort to fight climate change, for example, enterprises like FedEx, Amazon and Walmart have even pledged to become carbon neutral by 2040.
However, reducing emissions is a daunting task to tackle, especially while also trying to maintain profit margins and navigate ever-changing regulations. According to companies surveyed by Boston Consulting Group, more than 90% of firms aren’t measuring emissions correctly, with fewer than one-third of corporations in the U.S. choosing to voluntarily disclose their emissions.
Start-ups like Sweep, which recently secured $73 million in series B funding, are attempting 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-report emissions doesn’t work
Traditionally, many industrial sectors would self-report their emissions, leading to data that was often incomplete, out of date, and in some cases — completely falsified. This meant that whenever policymakers and committees would meet for critical climate negotiations, they would be working with information that didn’t tell the whole story.
“Sweep does more than measure carbon emissions. We give enterprises the tools to accurately track their progress so they can build science-based, data-driven climate programs using safe, 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 is looking to organize its reduction at scale, they 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 carbon net-zero commitments, stakeholders need to find a way to hold them accountable. This means we can no longer act in silos. To achieve worldwide carbon neutrality, insights gleaned from Sweep will become indispensable,” said Delacour.
Backing climate change vision
Over the last year, Sweep has raised $100 million to strengthen its platform’s capacity and empower companies to meet their climate goals more efficiently and cost-effectively. The Sweep team’s shared vision of corporate climate actions is even recognized on the international stage as they sit on the World Bank’s Carbon Pricing Leadership Coalition and are a founding member of Climate Dividends.
The effects of climate change continue to ripple across the planet, and companies across sectors must be motivated to do their part and curb emissions. Although much of today’s carbon reduction efforts are being stalled by complex technologies, Sweep is among the first tools of its kind to put automation, connectivity and collaboration at the heart of its platform, turning net zero from an empty platitude into a reality.
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