Luxembourg-based SustainCERT has raised a Series B round of $37 million which will enable the climate impact verification company to take its platform to a global audience. Its launching what it calls 'the world’s first climate impact verification platform' which will enable companies to bring credibility to their climate impact claims
“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," says Marion Verles, CEO of SustainCERT.
Scope3 emissions = indirect emission from the value chain.
“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," says Verles.
Founded as an independent standalone organisation in 2018 by Gold Standard, SustainCERT’s approach aligns with and contributes to leading international sustainability frameworks – including the Greenhouse Gas Protocol, the UN Sustainable Development Goals, Gold Standard and Science Based Targets Initiative (SBTi).
“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," says 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," says Jérome Faul from Innovacom.
Main image: Marion Verles CEO of SustainCERT