Pledge, a carbon accounting startup founded by ex-Revolut and Freetrade staffers, just raised $10 million with this 10-slide pitch deck
, which are referred to as scope three emissions. This means emissions cuts in logistics help to cut the scope three emissions of other companies.
The company has been iterating its self-serve technology with customers for the past 18 to 20 months to find product-market fit, de Picciotto said. It covers different modes of transport including road, rail, air, and sea, with global geography coverage, but is targeting the UK market. Pledge has a portfolio approach to carbon removal projects on its marketplace, meaning buyers can split the risk across offsets and invest thematically. The platform also allows fractional offset purchases – similar to buying a fraction of a stock, de Picciotto said.
Pledge plans to introduce"insetting" projects to its marketplace, which refers to emissions reduction or sequestration projects in a company's own supply chain. While offsetting is outside of a company's operations and would be used for residual or historical emissions, de Picciotto said, insetting is designed to reduce emissions. For example, a logistics company could invest in a bio-fuels project in its supply chain.
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