Applicable Industries
- Education
- Finance & Insurance
Use Cases
- Continuous Emission Monitoring Systems
- Track & Trace of Assets
About The Customer
Balderton is a leading venture capital investor based in London, with a focus on backing European-founded technology companies. The firm has 65 employees and is conscious of the transition towards a low-carbon economy. In 2020, Balderton defined a set of values and Sustainable Future Goals (SFGs), which were informed by the UN’s 17 Sustainable Development Goals (SDGs). The firm is committed to tracking and growing its positive impact across internal operations, portfolio companies, and investment decision-making. This includes initiatives such as diversity & inclusion practices, a startup guide to ESG, and carbon emission management.
The Challenge
Balderton, a leading venture capital investor in Europe, was faced with the challenge of managing its carbon footprint and contributing to global net-zero targets. The firm had defined a set of values and Sustainable Future Goals (SFGs) in 2020, which were informed by the UN’s 17 Sustainable Development Goals (SDGs). The firm decided to track and grow its positive impact across internal operations, portfolio companies, and investment decision-making. This included initiatives such as diversity & inclusion practices, a startup guide to ESG, and carbon emission management. However, the process of carbon footprinting was a lengthy data collection exercise. Since the majority of their footprint came from investments, they needed to collect and track the emission data of each investee. This meant engaging over 115 companies of different sizes, industries, and at different stages of growth. The challenge was to tailor the measurement approach to each company's unique situation, taking into account factors such as team sizes and company stages.
The Solution
Balderton decided to leverage technology to streamline data management and carbon literacy across its portfolio. They used Sweep, a platform that allowed them to have their corporate and portfolio emissions all in one place. This contributed to progress in several areas. Firstly, they were able to define the scope of emissions. The first year required some heavy lifting in terms of defining a fund’s emission boundaries, materiality, and emission factors. Balderton leveraged Sweep’s Organize module to map out and track in-real time all its emissions. Secondly, they were able to engage their portfolio comprehensively. Balderton used Sweep’s surveys to collect and track its carbon footprint across its investment portfolio. After an introductory webinar about the fundamental carbon accounting and the Sweep’s platform, investees received customizable surveys, automatically connecting their emission data to Barderton’s. Lastly, they were able to meet carbon and ESG reporting requirements. With Sweep’s customizable dashboards, Balderton could report carbon and ESG data in accordance with LP and regulatory sustainability reporting expectations.
Operational Impact
Quantitative Benefit
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