Corporate world is increasingly looking for ways to decarbonize their operations and develop sustainable business models. This requires correct measurement of carbon emissions. As most companies around the world put the ESG criterias on the top of their business agenda, more data on environmental criterias are needed for better corporate responsibility.
Increasingly more companies around the world involved in partnerships are committing to align with Paris Agreement targets. Correct measuring and reporting carbon emissions are primary steps to reduce greenhouse gas emissions and achieve net-zero targets. Hence, improving the sustainability of the financial sector requires reliable data collection on financial transactions and disclosure of carbon footprints. To facilitate such credible carbon tracking, a London-based startup Connect Earth developed data management technologies.
Since its establishment in 2021, Connect Earth provides two main software tools. One of them is referred to as Connect Insights. Using Connect Insights, consumers can understand the carbon footprint of their purchasing decisions and select more environmentally friendly companies. Connect Report, the other tool provided by Connect Earth, is a carbon accounting technology designed for financial institutions. This technology enables financial institutions to know about carbon emissions generated by their customers and assess sustainability of their investment and lending practices.
With continuously updated databases and data modeling methodologies, their API (Application Programming Interface) technology tracks carbon emissions of financial transactions, aiming to measure and collect data on the carbon footprint of financial transactions. By making the emissions data accessible to everyone, Connect Earth helps consumers to make better informed decisions, empowers transparency in the financial sector and makes polluters accountable.
Given the fact that climate action without a proper measurement of emissions would be flawed, the role of Connect Earth can be considered highly critical for transparency and disclosure requirements introduced by policymakers in recent years. We would like to highlight the promising market potential of carbon management analysis since Connect Earth can market its software products to a wide range of sectors.
The sector of environmental data management is rapidly growing and the service provided by Connect Earth is essential for companies adhering to carbon emission compliance standards. Technologies developed by climate tech startups as Connect Earth can allow companies to set better science-based net-zero targets. We project that the demand for tools and softwares allowing to track carbon-emissions, such as Carbon Insights and Carbon Report of Connect Earth, will be significantly increasing over time.