NatWest, NAB and SC Ventures support the launch of climate action platform FourTwoThree
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SC Ventures, NAB and NatWest, have provided financial support and bank-grade technology insights to help the firm get off the ground.
The company has been built to help banks, insurers, enterprises and governments support SMEs to reduce emissions, cut costs, and play their part in developing more resilient supply chains. This is particularly crucial for Scope 3 emissions, which can account for more than 70% of an enterprise's carbon footprint
The firm provides a clud-based data-driven platform designed for large institutions to access reliable climate data in order to automate footprint calculationa for SMEs and provide personalised guidance and recommendations.
"Climate action becomes possible when we make it accessible," says Glyn Baker, CEO at FourTwoThree. "SMEs play a crucial role in the global economy, representing the majority of commerce, employment and GDP. We have the user data and engagement to enable those businesses to accelerate their journey towards a sustainable global transition. Connecting SMEs to better support, accessible financing and emerging climate innovation will simply make them better and more engaged customers, suppliers and employers.'
As part of the launch, FourTwoThree is acquiring PointSource Technologies, a start-up venture incubated by SC Ventures that makes climate data usable.
'When we started PointSource, our goal was to build something pragmatic and useful—something that helps bridge the gap between climate ambition and climate action,' says Harald Eltvedt, operating member at SC Ventures. 'With FourTwoThree, we believe PointSource can now reach the scale and relevance the climate challenge demands.'
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