Luxembourg-based SustainCERT bags €34.5M to drive transparency and accuracy in climate action

Luxembourg-based SustainCERT, a climate impact verification platform, announced on Wednesday that it has raised $37M (approximately €34.5M) in a Series B round of funding from Partech Impact Fund and Hartree Capital.

Existing shareholders Citizen Capital, Innovacom, and Microsoft’s Climate Innovation Fund also participated in the round. 

SustainCERT says it will deploy the capital to support the acceleration of its digital climate impact verification platform’s commercial, organisational, and technological scale-up.

The funding will also facilitate the broader implementation of the Value Change Initiative, an inclusive platform that unites major corporations, prominent civil society entities, and globally recognised frameworks to establish comprehensive guidelines for substantial Scope 3 emission reductions.

Marion Verles, CEO of SustainCERT, says, “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.” 

“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,” adds Verles. 

The announcement comes a few days after launching its platform that will accurately verify and track the decarbonisation impact of Scope 3 (value chain) projects.

What does SustainCERT solve?

To limit global warming to 1.5°C and achieve Net Zero by 2050, a 45% emissions reduction by 2030 is necessary. 

This transition requires scaling market and policy mechanisms to incentivise decarbonisation, including effective carbon markets and action on Scope 3 emissions. 

Independent verification is crucial for transparency and integrity in carbon markets, especially as regulations around Scope 3 emissions reporting increase. 

SustainCERT’s solutions, verified against global standards, enhance the speed, accuracy, and quality of carbon credits and greenhouse gas emissions measurement. 

SustainCERT: A climate impact verifier

Founded in 2018 by Gold Standard, SustainCERT‘s solution combines climate and environmental accounting expertise with industry technology to accurately verify, track, and co-claim emission reductions and removals from a value chain project (also called ‘an intervention’). 

This concept will allow companies to co-invest in reductions and removals in their supply chains, share the costs of decarbonisation, and scale action faster. 

The platform provides companies to account for and claim GHG impacts from interventions in their value chain. It also enables the transfer of GHG impacts – verified by SustainCERT’s auditors – between supply chain partners and other eligible entities.

The investors

Rémi Said, General Partner at Partech says, “Partech Impact’s objective is to scale up tech impact native companies into global leaders.”

“We truly believe that SustainCERT, with the combination of its world-class climate expertise, its unique digital platform, its deep understanding of standards and regulations, its already landmark client portfolio, and its experienced, talented, and ambitious management team, is very well positioned to become a carbon global champion. This market will need strong companies like SustainCERT to drive transparency and accuracy,” adds Said.