TORONTO, March 28, 2023 /CNW/ – Toronto-based climate tech startup Carbon Neutral Club, a business that is on a mission to bring climate action into the modern employee experience, has closed a $1.4M CAD round led by Emend Vision Fund, Blue Vision Capital, and Good News Ventures.
In the wake of last week’s IPCC report, which delivered a final warning on the climate crisis, Carbon Neutral Club has discovered an untapped resource that can be harnessed to build a global climate movement – the workforce. Having witnessed a growing number of companies set climate targets only to fall short of their goals, the founders of Carbon Neutral Club have identified what they perceive to be the root cause.
“Over one third of companies that fail to meet their climate targets attribute these failures to a lack of organizational culture necessary to effectively implement their climate plans,” shared Jack Bruner, co-founder of Carbon Neutral Club. “We want to shepherd in a new era of climate plan implementation, one that embeds climate action directly into the values of a company. For Net Zero plans to be successful, organizations need an engaged workforce that is compelled to execute on the long-term plan. Afterall, if employees aren’t empowered to drive sustainable changes in the workplace, how can we expect organizations to meet their emissions reduction targets?”
Historically, corporations have given little consideration to employee engagement in overarching climate plans. Yet employee derived ‘Scope 3’ emissions for activities like flights and commutes are often responsible for the largest portion of corporate emissions. Carbon Neutral Club is dedicated to improving the likelihood that corporate climate targets are met by empowering the people who are responsible for delivering them – the workforce.
“Carbon Neutral Club gives employees the tools, education, and incentives to play an active role in achieving their organization’s climate targets,” explains Jeff Packer, co-founder of Carbon Neutral Club. “Employees start by calculating their carbon footprints at home and at work. Our Sustainable Behaviors Platform then integrates climate objectives and tactical behavior change opportunities seamlessly into the workday to reward employees for making changes that drive toward corporate carbon reduction targets.”
Blue Vision Capital invested in Carbon Neutral Club because it believes organizations that engage their workforces in climate action are more likely to achieve Net Zero goals.
“Two timeless truths for organizations are ‘what gets measured gets managed’, and ‘lasting change begins from the ground up,'” explains Siddartha Krishnan, Partner at Blue Vision Capital. “Carbon Neutral Club allows workforces to measure and mitigate their carbon footprints, while providing a unique channel for employees and organizations to coalesce around shared climate commitments.”
Over the past year, Carbon Neutral Club has rapidly expanded its client base to include hundreds of progressive companies across North America. These companies span publicly traded financial institutions, sustainable brands like Prima and Saie, and fast-growing startups like Manifest Climate, Patch, and Redbrick. Carbon Neutral Club will use the capital infusion to expand globally and grow the impact of its climate movement ten-fold over the next two years.
“Carbon Neutral Club has helped Manifest Climate employees understand their emissions and has supported better choices,” says Laura Zizzo, CEO of Manifest Climate. “It’s a meaningful part of our team-building package, supporting more knowledge and sustainability across the organization.”
More than 70% of employees consider a company’s climate track record before accepting a job. Having recognized this trend, Carbon Neutral Club has identified a new market it calls “climate culture”. With this movement likely to grow in the future, the company plans to expand its product offering with the mission of building a climate movement at every organization.
“While the climate culture space is in its infancy, it will be the bedrock of all successful corporate climate strategies going forward,” says Richard Egli, General Partner of Emend Vision Fund. “We believe in Carbon Neutral Club’s ability and vision to harness the power of the workforce to make a significant impact in our collective fight against climate change.”
About Carbon Neutral Club
Carbon Neutral Club helps organizations of all sizes meet climate targets by harnessing the power of the workforce. Employees are given the tools, education, and incentives to play an active role in achieving their organization’s climate plans. Our Sustainable Behaviors Platform integrates climate objectives and tactical behavior change opportunities seamlessly into the workday to reward employees for making changes that drive toward corporate carbon reduction targets.
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