London, UK, June 27, 2023 – Connect Earth, a company that promotes climate-conscious behaviour through its carbon tracking technologies, has been named a founding partner of The Perseus Project. This initiative is dedicated to streamlining sustainability practices for Small and Medium-sized Enterprises (SMEs) by automating the measurement and tracking of greenhouse gas (GHG) emissions. By establishing an efficient and standardised process the project aims to empower SMEs to proactively monitor and report their environmental impact.
As a result of their commitment to assisting SMEs on their Net Zero journey, Connect Earth has developed Connect Report, an API-based tool that equips businesses with invaluable insights into the carbon footprint of their operations. As a part of The Perseus Project, their objective is to not only enhance the accessibility of this technology but also to help revolutionise the landscape of sustainability reporting; promoting a culture of data transparency and helping to drive a shift in sustainable practices.
Addressing the Need for Sustainable Practices and Carbon Reduction
The Perseus Project comes at a crucial time when the need for sustainable practices and carbon reduction is more pressing than ever. With over 5.9 million SMEs in the UK alone, accounting for a significant portion of the country’s carbon emissions, it is essential to establish a common framework for GHG emissions reporting. However, until now, there has been no universal standard for SMEs to follow in their reporting efforts.
The project, led by Bankers for Net Zero (B4NZ) and Icebreaker One, aims to develop universal solutions that streamline emissions reporting for SMEs. By providing access to primary data used for reporting, the initiative seeks to reduce the burden on SMEs, making the process more scalable and streamlined.
The Perseus Project has gathered significant support from the UK Government, leading sector trade bodies, and non-profit organisations. With the Steering Group, co-chaired by The British Business Bank and Icebreaker One, overseeing the program, and industry Advisory Groups working on implementation details, there is a robust framework in place to ensure effective outcomes.
“Perseus marks a significant milestone in our commitment to tackling climate change. By uniting organisations to harness the power of data and technology, we are forging a path towards a credible sustainable future. Together, we can break the ice and pave the way for a resilient and net-zero economy. The time for theory is over,” says Gavin Starks, CEO and Founder of Icebreaker One.
Building a Common Emissions Reporting Framework for SMEs
By starting with SMEs, UK banks, and energy companies, the project will develop a common framework based on existing standards, rather than creating new ones. The aim is to deliver a demonstrator launch at COP28 in December 2023, laying the foundation for scalable and low-friction GHG emissions reporting.
“Project Perseus is a fantastic initiative that will unlock access to granular, reliable consumption data that will be crucial for helping SMEs to measure and reduce their emissions, and unlocking access to capital by de-risking green financing for the financial sector. We at Connect Earth are thrilled to be able to lend our expertise to shaping the future of data accessibility through the ambitious, yet pragmatic, Project Perseus,” says Josh Couchman, Head of Data Strategy at Connect Earth.
The Perseus Project represents an important step towards achieving sustainable practices and reducing carbon emissions. Through their dedication to automating GHG reporting and nurturing collaboration, this initiative promises to unlock capital and drive positive change across industries.
To learn more on how Connect Earth supports SMEs to begin their journey to accurate emissions reporting; and supports financial institutions to better aid their business clients, visit Connect Report.
About Connect Earth:
Founded in 2021, Connect Earth is a London-based environmental data company that democratises easy access to sustainability data. With its carbon tracking API technology, Connect Earth is on a mission to empower consumers and SMEs to make sustainable choices and bridge the gap between intent, knowledge and action. Connect Earth supports financial institutions in offering their customers transparent insight into the climate impact of their spending.