“We are the first generation to feel the effects of climate change and the last generation who can do something about it”
It’s predicted that global warming will wipe $2.5 trillion dollars off the world’s financial assets if our CO2 emissions continue unchecked. That’s just one, purely financial measure. Climate change will also have a detrimental impact on many other societal and environmental functions in our world. That’s why by the year 2030 (just 10 years) we need to reduce global emissions by 45%.
Our mission, is to help companies to collectively reduce 400m tonnes, or 1%, of the world’s CO2 emissions.
What are the challenges?
We want to remove the barriers for companies to get started on this journey. The problem, however, is that it’s incredibly hard to take action.
The first challenge is knowledge. We found that many companies want to do something about climate change but find it hard to know where to start. What is our footprint? What impact is our company having? How do we reduce emissions? Should we offset and what type of projects work best? It takes a lot of time to understand the correct path.
Once companies understand the journey, the second challenge is calculating company emissions. In some cases it can take one full time employee six months to calculate their footprint. That means that companies have to dedicate a full time resource or hire a consultant to help them do this. This also squeezes the time available to understand how to reduce emissions.
This leads us to the last challenge: reducing emissions. There is a misconception that becoming a sustainable company can drastically increase costs, while actually, having an environmental programme can help to save up to 15% of spend through energy reduction and operational efficiency. There are many ways to do this (less flights, renewable energy etc.) but many companies have turned to offsets to capture what they can’t reduce. Carbon offsets have faced a lot of criticism in the past but there has been significant improvements in the verification and effectiveness of these projects. However we want to provide automated insights, backed by data, that show how to reduce emissions first before choosing offsets.
What are we doing to help?
We’ve started by creating our Starter package for companies to take the first step. Using their industry and team size, companies can estimate their footprint and setup a subscription that automatically invests in carbon offsetting projects around the world.
We have also launched a beta of our Advanced package. This allows companies to get an accurate assessment of their footprint using their expense data. We automatically import thousands of expenses and generate emissions for each line item. Companies can then use this to spot emissions reductions opportunities before they turn to offsets. We are continuing to run our beta product before our full launch soon!
Who are we and why does it matter?
Dodo was founded in the Antler accelerator programme in early 2020. Csaba and I have over 20 years of startup experience spanning several industries including finance, retail, marketing and travel. We’ve built products that turned complex data into actionable insights.
So why is our experience relevant to the problem we’re solving? Calculating emissions for companies is largely a data problem. It’s how we turn thousands of existing data points within a company, into a carbon footprint. We want to put our skills to good use to solve our generation’s biggest challenge: climate change.
If you’re a company that’s interested in reducing the environmental impact of your business, we’d love to help you on your journey. Reach out to us at [email protected]!