In a time when the planet is facing grave danger of climate change, there are some people who are trying their best to reduce the impact and create awareness of the climate change so that it can be further reduced by combined efforts. One of such companies is Normative that we are going to talk about.
Normative is a Stockholm, Sweden based technology startup that offers Software as a Service (SaaS). The company helps the corporates track their carbon footprint in almost all the processes starting from manufacturing to transport and even services. Normative has just raised $2.1 million in seed funding round. The investors comprised of Luminar Ventures, Wave Ventures and also the co-founder of Soundcloud Eric Wahlfross. Although the company is in its initial stages, the trust bestowed upon it by the investors paints a good picture of the company’s future.
The investment will help the company expand its business in the European Union and the US where the awareness regarding climate change is growing rapidly. According to a TechCrunch Europe report, the company wants to become the ‘Quickbook of Climate Reporting’. It can plug into various databases of its clients which can be both internal as well as external to understand the environmental impact of the goods and services offered by the company.
Sweden is a country where the impact of climate change is utterly prominent due to its close proximity to the Arctic region. The region is witnessing the adverse impacts of climate change at least twice as fast as other warmer regions of the Earth. The areas near to the ocean are drowning at a rapid pace never seen before jeopardizing several thousand people living on these shores. In fact, Normative claims that the homegrown corporate giants such as Ericsson, H&M and Electrolux together contribute to carbon emissions, which is greater than the total emission by the Swedish population.
While on one hand, awareness is being created on a global scale, on the other hand, people and corporates alike seem to be ignoring the impacts of climate change. Normative claims that only a mere 5000 companies have taken the responsibility to track their carbon emissions and set up systems to do so out of a whopping 200 million companies globally.
Normative is one of first such companies working in the domain of carbon emission tracking and it believes that the field will gain extreme recognition in the coming years due to the imminent threat of climate change and the government’s pressure on the larger corporates to check the carbon emission by such large corporates. While, the EU has already put in place where the companies with more than 500 employees have to disclose certain information about the way the company functions that make it easier for the authorities to keep a check on the carbon emission, the laws are about to be formulated regarding the same in the US too.