#97 | Sustainable supply chains and carbon accounting

Understory newsletter on climate and sustainability tech

Hello Understory Community!

This week, we dig into the intersection of supply chain and ESG. Between Covid, labor shortages, and now war & sanctions, the fragility of supply chains is even more apparent. At the same time, supply chains are becoming more transparent with keen attention on carbon emissions, ethical sourcing, and net zero ambitions.

In our latest episode of The Understory Podcast, we talked to Shuchi Nijhawan of Eka Software Solutions about carbon accounting and how technology can enable net zero enterprises. She shared how multinational, multi-tier supply chains with ever-changing regulations can be overwhelming, and solutions like Eka Software can streamline associated sustainability initiatives. Check out our latest episode.

EVENT ALERT » MARCH 23, 2022

Register today for our upcoming ‘Startups Driving Sustainability’ Showcase. This month we feature entrepreneurs who are tackling some of toughest challenges we currently face - clean water, a sustainable food chain, environmental disasters, and the threat of e-commerce waste. REGISTER HERE.

📚 Worth Reading

Eliminating scope 3 emissions is critical to achieving net zero.

Global supply chains account for approximately 80% of carbon emissions, and yet many companies are focused on reducing scope 1 and scope 2 emissions. Why? Because decarbonizing the supply chain is complex and costly.

Supply chains are multi-national with components manufactured in multiple countries, assembled in another, and then shipped to the final destination. This all adds up. It’s also exacerbated by the fact that western economies often import emissions from emerging economies like in Asia.

Source: World Economic Forum

Supply chain disruptions could help or hinder transition to net zero.

It’s still a toss up whether Covid, war in Ukraine, Russian sanctions, and other geopolitical trends will accelerate decarbonization or create barriers to change. These examples highlight opportunities to pivot toward a net zero future:

• U.S. legislators are calling for a ban on Russian oil imports. Some believe the country should double down on renewable energy while others support increasing domestic oil production.

• Russia may suspend exports of fertilizer, significantly impacting agriculture around the world. Farmers have an opportunity to pivot to regenerative agriculture yet inflationary pressures may limit their ability to invest in new practices.

• Europe is returning to coal as a source of energy as natural gas supplies from Russia could be cut off. This is another opportunity to scale renewables in the face of supply shortages.

Significant capital is needed to eliminate scope 3 emissions.

Everyone has a role to play. Over $3.5 trillion dollars a year is needed to achieve net zero supply chains globally. Organizations need to invest in technology and innovation that streamlines this transition, including solutions that help with procurement, cost/benefit analysis, and reporting.

Source: World Economic Forum

Read more: Net Zero Challenge: The supply chain opportunity

🚀 Funding and Congrats!

PDI acquired GreenPrint, a 'sustainability as a service' provider.

Aurora Solar, former #StartupSpotlight company, raised a $200 million Series D round.

NCX raised a $50 million Series B round. The company operates a marketplace for forest-based carbon offsets.

Source.ag, an agtech startup that helps increase crop yields in greenhouses, raised $10 million in funding.

Sourcemap announced a $10 million Series A funding. The company enables supply chain transparency and traceability.

TrueCircle, a recycling tech company, raised $5.5 million in pre-seed funding.

Sustainable, land-based shrimp farm Lisaqua raised €4.9 million.

Mi Terro raised $1.5 million to scale operations. The company upcycles agricultural waste into compostable proteins that replace plastic.

💡 Startup Spotlight

Greenpixie - software to measure and reduce the emissions of companies’ digital operations.

greenpixiehq

A post shared by Greenpixie (@greenpixiehq)

🌱 Startup Resources

The 3 T’s of Pitch Decks - Team, Traction, and Tech and other insights from a VC to refine your pitch.

👀 Quick Hits

The IPCC put out its latest report with a comprehensive assessment of climate change impacts, warning that more effort needs to be put on adaptation going forward.

Airbus unveiled its zero-emissions airplane demonstrator using hydrogen combustion technology.

Investment in energy transition reached record highs in 2021.

Americans are conflicted - they favor initiatives to be carbon neutral but don’t want to phase out fossil fuels completely.

🎧 Podcast

Shuchi Nijhawan of Eka Software Solutions: carbon accounting to reach net zero

Jason Nachamie of Rho Impact: the art and science of ESG impact tracking

Joanne Rodriguez of Mycocycle: regeneration powered by fungi

The Understory Podcast is also available on SoundCloud, Apple Podcasts, Amazon Music, and Google Podcasts.

⚙️ Jobs

Find and share your open positions on the Understory Slack channel.

🆕 Data Researcher (Bound Project) at NextEra Energy

🆕 Director at Georgia Social Impact Collaborative

🆕 Head of Growth at Gaiascope

🆕 Intern (development & product marketing) at Hazel

🆕 Senior Director, Corporate Partnerships at Closed Loop Partners

🆕 Full Stack Engineer at GreenPixie

Recruiting Specialist and In Store Style Curator at Borobabi

Solutions Engineer at Clarity AI

Sustainability Practice Leader at Salesforce

Sustainability and Climate Program Manager, Procurement at Google

Manager - Supply Chain Environmental Sustainability at McKinsey & Co.

ESG Junior Sales Specialist at MSCI

Manager, Global Communications at Interface

Key Account Director at Interface

Director of Sales at WasteWizer

State Climate Policy Network Intern at Climate XChange

Sustainability Lead, Nature at Ralph Lauren

Software Engineer and Communications Coordinator at Greenlink Analytics

Enterprise Account Executive at Cloverly

Principal, Circular Economy at Amazon

Manager, Strategic Relationships - Circular Economy at TerraCycle

🗓 Events

March 23: Understory’s Startups Driving Sustainability - March Showcase

April 23: Atlanta Green Business Market Fair

April 26: Understory’s Startups Driving Sustainability - April Showcase

Do you have any events to share? Post them in our Understory Slack community.

📧 Stay in Touch!

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