Founded by a KEDGE graduate, Sweep has raised $22 million!

Faced with of scientific warnings about climate change, companies are under pressure from their customers, investors, partners, regulators, and employees to reduce their carbon footprint. However, many are finding that there is a big difference between making pledges to reduce emissions and actually implementing measures and reporting on the progress they are making to meet their targets. Last month, BCG reported that more than 90% of companies are not measuring their emissions accurately or regularly, both of which are essential to ensure a balanced climate agenda. 

"Reporting on direct emissions is just the tip of the iceberg for the world's largest companies," stated Rachel Delacour, CEO and co-founder of Sweep. 

"Sweep Connect links large companies, for whom carbon is a critical issue, with their entire value chain, and its network of business partners, teams, and suppliers, and enables them to fully track their direct and indirect emissions. Our tool has been designed for businesses of this size as the reductions they achieve have an even greater positive impact. Sweep makes the collection and analysis of carbon data transparent, automated, and secure so companies can focus on reducing their carbon footprint and contribute to global efforts get to net-zero."

Since it was launched last April, Sweep has worked with several Financial Times Stock Exchange 500 (FTSE) companies, each of which is responsible for 30-50 MtCO2e of annual carbon emissions. Those companies have chosen Sweep and its Enterprise SaaS solution to help them put in place science- and data-driven climate programmes that address the urgency of global warming, and which anticipate future regulations on the non-financial reporting of the sustainability of their operations.

Bernard Liautaud, Managing Partner at Balderton Capital, has joined Sweep's Board of Directors. “Sustainability is a huge priority for us at Balderton and Sweep’s mission and vision are perfectly aligned with our Sustainable Future Goals. When we looked at the market, we were incredibly impressed with the strength of Sweep’s team, and the thoughtfulness and maturity of their product. We are pleased to be supporting them as they help businesses effectively assume responsibility for their carbon footprint", he stated.

In early November 2021, Sweep was one of a handful of new companies selected to present its product at COP26 as part of the UK government's Tech for Our Planet programme. This programme highlights technologies that are being developed to help achieve global net-zero emissions targets. For this pilot project, the public investment bank BPIfrance and its two portfolio companies, Orange and Openclassrooms (a start-up that specialises in education technology) used the platform's Connect feature to map their emissions and demonstrate the tool's ability to deliver a carbon reduction strategy at scale. While the investment, lending, and underwriting activities of financial organisations (Scope 3 emissions) are generally much higher than their direct emissions, only 25% of companies report emissions from those sources as part of their portfolio.

Sweep has also introduced an Initiatives feature so companies can implement their carbon reduction roadmap in line with their climate goals even more effectively. This feature simulates different emissions reduction strategies by allocating different actions to their Scope 3 teams and partners while tracking progress over time all, in one location. 

Sweep is clearly a company with a social mission. It has also recently been awarded the B Corp label for upholding the highest standards of social and environmental performance and public transparency. 

Any company can sign up and start using Sweep to reduce its Scope 1, 2, and 3 emissions by visiting www.sweep.net.

FIND OUT MORE  SWEEP.NET

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