- Carbon Neutral Club, a Toronto-based climate tech company, announced it has raised C$1.4 million.
Toronto-based climate tech startup Carbon Neutral Club, a company that is on a mission to bring climate action into the modern employee experience, announced it has closed a C$1.4 million round led by Emend Vision Fund, Blue Vision Capital, and Good News Ventures.
On the heels of the recent IPCC report, which emphasized a final warning on the climate crisis, Carbon Neutral Club discovered an untapped resource that can be harnessed to build a global climate movement – which is the workforce. And having witnessed a growing number of companies set climate targets only to fall short of their goals, the founders of Carbon Neutral Club identified what they perceive to be the root cause.
Corporations have historically given little consideration to employee engagement in overarching climate plans. But employee-derived ‘Scope 3’ emissions for activities like flights and commutes are often responsible for the largest portion of corporate emissions. And 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 – which is the workforce.
In the past year, Carbon Neutral Club has rapidly expanded its client base to include hundreds of progressive companies across North America. And 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 funding to expand globally and grow the impact of its climate movement ten-fold over the next two years.
Over 70% of employees consider a company’s climate track record before accepting a job. And 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 is planning to expand its product offering with the mission of building a climate movement at every organization.
KEY QUOTES:
“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. 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?”
— Jack Bruner, co-founder of Carbon Neutral Club
“Carbon Neutral Club gives employees the tools, education, and incentives to play an active role in achieving their organization’s climate targets. 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.”
— Jeff Packer, co-founder of Carbon Neutral Club
“Two timeless truths for organizations are ‘what gets measured gets managed’, and ‘lasting change begins from the ground up.’ 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.”
— Siddartha Krishnan, Partner at Blue Vision Capital
“Carbon Neutral Club has helped Manifest Climate employees understand their emissions and has supported better choices. It’s a meaningful part of our team-building package, supporting more knowledge and sustainability across the organization.”
— Laura Zizzo, CEO of Manifest Climate
“While the climate culture space is in its infancy, it will be the bedrock of all successful corporate climate strategies going forward. 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.”
— Richard Egli, General Partner of Emend Vision Fund
