SustainCERT completes $37 Million Series B Capital Raise to scale the world’s first digital climate impact verification solution

Luxembourg, 7th June 2023

SustainCERT SA ("SustainCERT"), a global leader in climate impact verification, has announced the completion of its largest capital raise of $37 million to support its global expansion.

This year SustainCERT is launching the world’s first climate impact verification platform to enable companies to bring credibility to their climate impact claims. The Series B funding will support the scaling of its recently launched value chain decarbonization impact solution for Scope 3 emissions and the soon to be launched digital verification solution for carbon markets. 

Since 2018, SustainCERT has been on a mission to bring credibility to climate impact claims through its unique offer to independent impact verification, combining climate expertise with innovative, cutting-edge digital solutions.

Marion Verles, CEO of SustainCERT, said the funding will enable the next phase in SustainCERT’s fight against climate change:

“We exist to bring credibility to climate action; and this investment - our largest fundraising to date - will enable us to continue increasing the speed and accuracy at which climate impacts can be verified. I am hugely excited about our growth opportunities and the scaling of our innovative climate impact verification solution for carbon markets and Scope 3 emissions."

“We welcome Partech and Hartree as new investors and look forward to working with them and our existing investors Citizen Capital, Innovacom and Microsoft on building our pioneering position in the market with the world’s first digital verification platform.”

We exist to bring credibility to climate action; and this investment - our largest fundraising to date - will enable us to continue increasing the speed and accuracy at which climate impacts can be verified. I am hugely excited about our growth opportunities and the scaling of our innovative climate impact verification solution for carbon markets and Scope 3 emissions.

Marion Verles, CEO, SustainCERT

The growing need for climate impact verification

To limit global warming to no more than 1.5°C and to reach Net Zero by 2050*, a 45% reduction in emissions is required by 2030.  Such a transition requires substantial scaling of market and policy mechanisms that incentivize decarbonization. Effective carbon markets, and action to reduce Scope 3 (value chain) emissions, which represent the majority of companies’ emissions, are vital components of this transition. 

Greater transparency and integrity are required if carbon markets are to be successful, and as regulations grow around Scope 3 emissions reporting, independent verification will play a key role in ensuring climate impact claims are accurate and trustworthy. All credible carbon standards require verification, and digital innovations are emerging as key drivers to scaling carbon markets with integrity.

Verifying against globally recognized standards, SustainCERT’s solutions will accelerate the speed, accuracy and quality of data measurement used for carbon credits and Greenhouse Gas Emissions (GHG) impacts.

The proceeds of the fundraising will be used to invest in the acceleration of the commercial, organizational and technology scale up to support the growth of SustainCERT’s pioneering digital climate impact verification platform.  In addition, the funding will continue to scale the reach of the Value Change Initiative, a multi-stakeholder forum bringing together some of the world’s largest companies, leading civil society actors and internationally recognized frameworks to focus on defining best practice for Scope 3 emission reductions at scale.  

Shareholders

This fundraising convenes new investors, Partech, the global technology investment firm, and Hartree Partners, a global leader in voluntary & compliance carbon markets.  SustainCERT is the first investment of the new Article 9 Partech Impact Fund, focused on investing in European impact-native technology companies that are addressing fundamental environmental & social challenges.

“Partech Impact’s objective is to scale up tech impact native companies into global leaders” comments Rémi Said, General Partner at Partech.

We truly believe that SustainCERT, with the combination of its world-class climate expertise, its unique digital platform, its deep understanding of standards and regulations, its already landmark client portfolio and its experienced, talented and ambitious management team, is very well positioned to become a carbon global champion.

Rémi Said, General Partner, Partech

“We truly believe that SustainCERT, with the combination of its world-class climate expertise, its unique digital platform, its deep understanding of standards and regulations, its already landmark client portfolio and its experienced, talented and ambitious management team, is very well positioned to become a carbon global champion. This market will need strong companies like SustainCERT to drive transparency and accuracy. We are very honored and glad to be part of the SustainCERT journey and have the opportunity to scale-up SustainCERT successfully in the coming years.”

Existing shareholders Citizen Capital, Innovacom and Microsoft’s Climate Innovation Fund have reinvested in this capital raise.  

“Since our initial investment in 2021, we have been impressed by the growth SustainCERT has delivered, and we are confident in its ability to foster more ambitious climate action through reliable and scalable climate impact verification”, said Jonathan Piquet of Citizen Capital.

 

Since our initial investment in 2021, the need to improve measurement, reporting and verification of GHG emissions reduction and removal has only continued to grow as the world looks to reach net zero.

Brandon Middaugh, Director, Microsoft Climate Innovation Fund

“Since our initial investment in 2021, the need to improve measurement, reporting and verification of GHG emissions reduction and removal has only continued to grow as the world looks to reach net zero”, said Brandon Middaugh, Director, Microsoft’s Climate Innovation Fund.  “This follow-on investment represents our continued commitment to SustainCERT’s mission of bringing credibility to climate action.”

“In the context of the increasing urgency of climate action, we welcome the arrival of new investors to support the acceleration of SustainCERT’s strategy to bring transparency, credibility and accuracy to climate claims” added Jérome Faul from Innovacom.

Torch Partners served as exclusive financial adviser to SustainCERT on the Series B fund raise.

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