Read the full story at TechCrunch.
Increasingly, companies are being encouraged by governments to engage in carbon accounting, but of course, only a small number of companies actually do. Even those probably count only 10% of their emissions because they don’t account for the emissions of their supply chain, which, when looked at, probably account for 90% of their total emissions. It’s the equivalent of handing in your financial report on the back of an envelope. But tracking supply chain emissions is fiendishly tricky.
Perhaps that’s why Normative, an emissions “accounting engine”. which can track supply chain emissions, has now raised €10 million from a clutch of European and U.S. climate tech funds. The round was led by 2150 and ETF Partners, but also includes new investors Chris Sacca’s Lowercarbon Capital, while existing investors ByFounders and Luminar Ventures also participated.