SustainCERT, a leading carbon emissions accounting and verification platform, successfully raises $10 Million with the support of Citizen Capital, Innovacom and the Microsoft Climate Fund. The funds will contribute to their next phase of growth and new technological enhancements.
Photo: Marion Verles, CEO of of SustainCERT, during a WWF consultation project / Image credits: SustainCERT
Accounting for carbon emissions is the first step a company needs to take before it can reduce them. However, carbon emissions accounting is still a relatively new procedure and as such many companies have been able to make environmental impact claims which are hard to verify and even harder to believe.
Founded in 2018, SustainCERT quickly realised that without proper carbon emissions accounting mechanisms or global standards, achieving the Paris Agreement and the 2030 UN Sustainable Development Goals would be next to impossible. Along with her team, CEO Marion Verles set out to improve how these emissions are measured, reported and verified.
“The rise in climate commitments signals a turning point in global awareness on the need to curb emissions to Net-Zero. Without credible solutions to verify that those impacts claimed are real, we will fail. SustainCERT’s role is to bring transparency and credibility to the many efforts taken to achieve Net-Zero.” said SustainCERT CEO, Marion Verles.
A Race To The Top
Since its creation, SustainCERT’s accounting and verification software has verified over 1200 projects and issued nearly a fifth of all issued carbon credits. This has allowed the company to establish itself as one of the global leaders in the sector.
SustainCERT hopes that its software solution, which promises to simplify processes for data collection, calculation and verification, can fuel a race to the top instead of the current antipode.
“If companies today are not choosing best practices it is because the value proposition is unclear. We are changing this paradigm to one where best-practices for carbon emissions accounting and verification become the uncontested choice,” says Marion.
Having just raised $10 Million with the support of Citizen Capital, Innovacom and the Microsoft Climate Fund, SustainCERT is well positioned to achieve its goals. The capital will support their next phase of growth, contribute to continued technological development and support the development of a new software capable of accounting, allocating and reporting Scope 3 emissions – a prototype of which will be premiered at COP26.