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Climate Tech - Software

New technology allows individuals and organizations to become carbon intelligent.

Overview

Managing carbon footprints with software

A new set of technology-based solutions are proving effective at managing the carbon footprint of a wide range of users. Global warming leads to new record temperatures year after year and greenhouse gas (GHG) emitting human activities are directly responsible. Current GHG emissions levels must be halved by 2030 and net-zero emissions must be reached by 2050 to contain global warming at a sub-catastrophic level. The rapid commercialization of carbon management solutions is vital to quickly decarbonizing the economy over the next decade.

What's driving this industry?
Market Sizing

The US market for ClimateTech Software could reach USD 5.2-8.4 billion by 2025

Conservative case

USD 5.2 Bn

Base case

USD 6.3 Bn

Expansion case

USD 8.4 Bn

USD billion0246810202020212022202320242025
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Market Mapping

Different customers demand different technologies

The business-to-business (B2B) market is dominated by carbon intelligence startups while the business-to-consumer (B2C) market is dominated by carbon offsetting startups; B2B carbon offsetting and B2C carbon intelligence startups are somewhat limited. This can be attributed to the presence of established non-software offsetting players in the B2B offsetting market and the lack of monetization opportunities for pure-play carbon intelligence companies in the B2C market.

Incumbents
Growth
Early
Seed
Pre-Seed
B2B Carbon Intelligence: Internal
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B2B Carbon Intelligence: Supply Chain
?
B2B Carbon Offsetting
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B2C Carbon Intelligence
?
B2C Carbon Offsetting
?
Carbon Marketplace
?
Supercritical
Supercritical
Supercritical
Supercritical
Supercritical
Supercritical
SAP
Oracle
Salesforce
Microsoft
ENGIE
IsoMetrix
Intelex
Enablon
Dakota Software
Sphera
Carbon Trust
VelocityEHS
Greenstone
Cority
Native
EcoVadis
Measurabl
Worldfavor
Metrio
Persefoni
Sylvera
SINAI
Normative
Emitwise
Proof of Impact
CarbonCloud
Watershed
Sweep
Nossa Data
EcoVadis
Pearl Certification
Worldfavor
Circular IQ
Circulor
Normative
Emitwise
Topl
Provenance
Sweep
CarbonChain
Pachama
Treedom
Patch
Plan A
Ecologi
Planetly
CHOOOSE
Cloverly
Ecolytiq
Contreeb
CarbonX
Mossy Earth
Supercritical
Tapio
DODO
Giki
Pawprint
Treedom
Treeapp
Klima
Ecologi
CoGo
CHOOOSE
Joro
YAYZY
Wren
Capture
Refoorest
offCents
UCapture
Mossy Earth
Minimum
NCX
Nori
Puro.earth
Sweep
Single.Earth

The Disruptors

Low capital intensity allows startups to grow faster

Most of the startups in the climate tech software industry are relatively young, having launched in the past two to three years. And despite relatively low levels of capital infusion, these startups have grown quickly. Nearly two-thirds of these startups are in the early-stage but only a handful have raised more than USD 10 million in funding.

B2B Carbon Intelligence: Internal

?

Disruptors

?
Funding in USD Millions
EcoVadis
236
Persefoni
114
Measurabl
80
Sylvera
38
Sweep
27
SINAI
14
Normative
14
Emitwise
7
Worldfavor
5
Proof of Impact
2
CarbonCloud
1
Watershed
Unknown
Metrio
Unknown
Watchlist
?
Nossa Data

B2B Carbon Intelligence: Supply Chain

?

Disruptors

?
Funding in USD Millions
EcoVadis
236
Sweep
27
Circulor
20
Pearl Certification
16
Normative
14
Emitwise
7
Worldfavor
5
Topl
4
Provenance
1
Circular IQ
0
Watchlist
?
CarbonChain

B2B Carbon Offsetting

?

Disruptors

?
Funding in USD Millions
Patch
26
Pachama
24
Treedom
16
Plan A
15
Ecologi
8
Planetly
6
CHOOOSE
5
Supercritical
3
Cloverly
2
CarbonX
Unknown
Mossy Earth
Unknown
Watchlist
?
Tapio
Ecolytiq
DODO
Contreeb

B2C Carbon Intelligence

?

Disruptors

?
Funding in USD Millions
Giki
Unknown
Watchlist
?
Pawprint

B2C Carbon Offsetting

?

Disruptors

?
Funding in USD Millions
Klima
18
Treedom
16
Ecologi
8
CoGo
7
CHOOOSE
5
Joro
4
Wren
2
Capture
0
Mossy Earth
Unknown
Treeapp
Unknown
offCents
Unknown
UCapture
Unknown
Watchlist
?
Minimum
YAYZY
Refoorest

Carbon Marketplace

?

Disruptors

?
Funding in USD Millions
Sweep
27
NCX
22
Nori
5
Puro.earth
Unknown
Watchlist
?
Single.Earth

EcoVadis

France-based EcoVadis provides sustainability ratings for businesses and supply chains. EcoVadis follows a SaaS model with one-year subscriptions for  business ratings ranging from EUR 725-EUR 5,145 (USD 874-USD 6,202) for a medium-sized company with 100-999 employees.

EcoVadis assesses a company’s policies, actions, and results, as well as inputs from third-party professionals and external shareholders before giving a rating. Ratings are based on four broad themes of environment, labor and human rights, ethics, and sustainable procurement.

As of March 2021, EcoVadis has assessed more than 75,000 companies and trade partners across more than 160 countries. Procurement teams at 600 companies, including more than 450 multinationals, use EcoVadis ratings to make purchasing decisions. Johnson & Johnson, Nestle, Louis Vuitton, and L’Oréal are some of EcoVadis’s high-profile clients.  In January 2022, EcoVadis partnered with Certa , a third-party risk management platform to improve transparency across supply chains.

EcoVadis’s most recent funding was in January 2020, where it raised USD 200 million from CVC Capital Partners. The transaction is considered one of the largest in the industry, and EcoVadis expects to utilize the funds to scale globally. As of March 2021, EcoVadis is the highest funded business-to-business carbon intelligence software startup.

Segment:
B2B Carbon Intelligence: Internal
Total funding:
USD 235.8 million
Competitors:
Sylvera
Disruptor Funding History

B2B Carbon Intelligence: Internal:

EcoVadis
Persefoni
Measurabl
Sylvera
Sweep
SINAI
Normative
Emitwise
Worldfavor
Proof of Impact
CarbonCloud
Nossa Data

B2B Carbon Intelligence: Supply Chain:

EcoVadis
Sweep
Circulor
Pearl Certification
Normative
Emitwise
Worldfavor
Topl
Provenance
Circular IQ
CarbonChain

B2B Carbon Offsetting:

The Incumbents

Established firms go in-house to enter the market

The business-to-business (B2B) carbon intelligence segment is dominated by leading enterprise resource planning and risk management software providers. Most incumbents offer B2B carbon intelligence software as cross and up-selling opportunities to complement their existing enterprise solutions and have done so by leveraging in-house experience and capabilities.

These companies have the advantage of already possessing vast amounts of data related to their customers’ operations, enabling them to offer broad, comprehensive, and turnkey carbon intelligence solutions across the value chain. In contrast, most disruptor and watchlist providers have a more limited scope, focusing only on a few business areas and across limited industries.

Apart from the B2B carbon intelligence segment, the presence of large incumbents remains limited, although traditional (non-software) carbon offsetting companies that already sell carbon offsets online have the potential to expand into software solutions in the future. Nevertheless, as of March 2021, Native is the only traditional offsetting player to offer carbon management software.

Investments/Acquisitions

In-house Development

Partnerships

company-logo-0SAP
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company-logo-1Oracle
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company-logo-2Salesforce
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company-logo-3Microsoft
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company-logo-4ENGIE
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company-logo-5IsoMetrix
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company-logo-6Intelex
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company-logo-7Enablon
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company-logo-8Dakota Software
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company-logo-9Sphera
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company-logo-10Carbon Trust
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company-logo-11VelocityEHS
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company-logo-12Greenstone
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company-logo-13Cority
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company-logo-14Native
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SAP

SAP Product Carbon Footprint Analytics (SAP PCFA) is the latest carbon emission management solution offered by SAP. SAP PCFA provides carbon emission insights for a company’s products by plant, profit center, or cost center. SAP PCFA was introduced in June 2020 and is the first solution in SAP’s Climate 21 program to support enterprise goals in achieving sustainability commitments. 

Based on SAP S/4HANA, SAP Analytics Cloud, and SAP Cloud Platform, the application delivers transparency around the carbon emissions of a product across the entire value chain, including production, raw materials, energy use, and transportation. SAP PCFA is offered to SAP’s existing enterprise resource planning (ERP) customers and leverages existing base data such as bills of materials, energy usage, procurement data, and master data. 

SAP also offers the SAP Sustainability Performance Management 4.0 solution to manage and report the social and environmental impact of a business. Available to existing ERP customers, the software allows businesses to define a reporting structure, framework, and key performance indicators (KPIs) to evaluate sustainability performance, collect necessary KPI data, and publish results both internally and externally.

Notable Investors

No investor data is available

Funding data are powered by Crunchbase
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