New Platform Climate Club Launches With $6.5M In Capital Raised

New Platform Climate Club Launches With $6.5M In Capital Raised - Carbon Herald
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Next-generation climate tech is helping employees engage with saving carbon emissions. Climate Club – a carbon reduction software, announces September 28th, 2022 its public launch and $6.5 million in seed funding.

The funding is led by XYZ Venture Capital and Vestigo Ventures with participation from Red Sea Ventures, MCJ Collective, and additional strategic investors. The platform aims to use the money to continue to expand its solution.

“There’s no team better equipped than Climate Club’s to take this all-hands-on-deck approach to meet corporate carbon reduction goals… It will truly take the collective village to reverse climate change, and Climate Club will be an essential tool for sustainability leaders and companies to deliver on their commitments,” said XYZ Venture Capital partner Chauncey Hamilton. 

Early customers for Climate Club include Meta – Facebook’s parent company, and Bain – the management consulting conglomerate. 

The company’s platform is different from other carbon reduction software on the market. Its main goal is to help employees learn what they can and should be doing within the company to reduce carbon emissions. Then it provides specific recommendations for how employees can make changes.

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Involving people within an organization with its net zero targets became the task of the new company after CEO Adam Braun and Chief Business Officer Philip Charm noticed that large companies across the board make bold decarbonization commitments that employees were mostly ignoring. 

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A way to solve that disconnect is simply by embedding sustainability into employees’ experiences. Climate Club provides each employee with data that tracks their contribution to greenhouse gas emissions. Then, it suggests areas to improve, activities employees have to focus on and best practices to follow.

Climate Club also recommends best practices for Scope 3 emissions or the emissions that are generated throughout a company’s value chain. That is an area that most organizations struggle to address and at the same time is the largest category of their carbon footprint. 

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Getting help with Scope 3 emissions is also one of the main reasons why Meta hired Climate Club. “We are launching a pilot of the platform with employees… Through our partnership with Climate Club, we will empower Meta employees to understand and participate in the work that needs to be done to reduce scope 3 emissions across our business,” said Melanie Roe, spokesperson for Meta, in front of CNBC. 

Addressing corporate emissions is a priority for our economy. As there isn’t a well-established pathway for eliminating their carbon footprint, climate technologies are developing viable solutions rapidly in order to meet the market needs for decarbonization. Embedding employees into contributing towards corporate net zero goals is a critical step that drives net zero actions across the board.

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