Latest news with #GlynBaker
Techday NZ
26-06-2025
- Business
- Techday NZ
FourTwoThree unveils global SME climate data platform with bank support
FourTwoThree has launched a bank-backed data platform aiming to address climate financing and emissions within the small and medium-sized enterprise (SME) sector worldwide. The new platform is supported by NatWest Group, NAB, and SC Ventures, bringing together institutional backing in a move to facilitate the transition to net zero across global supply chains. According to the University of Cambridge, approximately $50 trillion will be required to ensure SMEs meet the necessary sustainability standards by 2050, representing half of the total $100 trillion needed for net zero supply chains. FourTwoThree's core offering is a digital platform that enables seamless data sharing and automated assessment amongst banks, enterprise organisations, and their SME value chain partners. By supporting accurate calculation and measurement of Scope 3 carbon footprints – which account for more than 70% of many large companies' emissions – the platform facilitates collaboration towards emissions reduction. SME focus The platform has been developed to make climate data collection and reporting accessible for SMEs, which play a central role in both employment and trade worldwide. The pressing challenge for large enterprises is that the majority of their emissions derive from their extended supply chains, where visibility and effective collaboration can be difficult. FourTwoThree aims to bridge this gap by allowing SMEs and larger firms to share reliable data, automate key sustainability processes, and access decision-making frameworks that could unlock practical strategies and commercial value. Glyn Baker, Chief Executive Officer at FourTwoThree, emphasised the role that accessible climate action can have across the business ecosystem. "Climate action becomes possible when we make it accessible. With regulatory, shareholder and customer pressure building on large enterprises we know that the demands on their SME networks are increasing. 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." Institutional collaboration The development involved active participation from investing banks, leveraging previous experience and use cases to create a platform that meets expectations for security, risk management, and performance at the enterprise level. The digital system is designed to integrate with existing bank infrastructure, supporting both regulatory requirements and customer engagement strategies. Alongside its official launch, FourTwoThree has announced the acquisition of PointSource Technologies, a climate data start-up incubated by SC Ventures. This move is intended to strengthen FourTwoThree's capacity to make climate data actionable, supporting automated assessments for sustainable financing, subsidies, and compliance across supply chains. The acquisition and related investments are subject to regulatory approval. Harald Eltvedt, Operating Member at SC Ventures, commented on the integration of PointSource Technologies into the wider FourTwoThree offering. "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. I'm proud of what the team has built, and even prouder to see it find a new home with FourTwoThree. This is exactly what we aim to do at SC Ventures: back bold ideas, build real solutions, and scale them with the right partners. With FourTwoThree, we believe PointSource can now reach the scale and relevance the climate challenge demands." Technical foundation FourTwoThree's digital solution is supported by technology partner Valtech and hosted on Amazon Web Services, with a focus on rigorous security protocols suitable for large enterprise clients. The platform aims to provide both banks and their SME customers with tailored guidance, automated emissions calculations, and insight into emerging standards and reporting requirements. The launch underscores the importance of direct institutional backing in supporting the transition of SMEs towards lower emissions, particularly as financial institutions face increased regulatory and stakeholder expectations around sustainability reporting and risk management.
Finextra
25-06-2025
- Business
- Finextra
NatWest, NAB and SC Ventures support the launch of climate action platform FourTwoThree
FourTwoThree, a climate action platform backed by NatWest, NAB and SC Ventures, has gone live with a goal of helping SMEs to measure, understand, and take action to reduce their carbon emissions. 0 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.'
