FourTwoThree Launches to Support SMEs in Climate Action
FourTwoThree, a climate action initiative supported by NatWest, NAB, and SC Ventures, has officially launched with the mission of assisting small and medium-sized enterprises (SMEs) in measuring, understanding, and mitigating their carbon emissions.
The collaboration has benefited from significant financial backing and advanced technological insights provided by SC Ventures, NAB, and NatWest, enabling FourTwoThree to establish a robust platform tailored for SMEs. The objective is to empower banks, insurance companies, corporations, and government entities to aid SMEs in emission reduction while simultaneously cutting operational costs and fostering resilient supply chains. This focus is especially vital considering that Scope 3 emissions can account for over 70% of an organization’s total carbon footprint.
The firm has developed a cloud-based, data-driven platform that grants large institutions access to reliable climate data. This capability allows for automated calculation of carbon footprints for SMEs and offers personalized recommendations and guidance.
"Making climate action achievable hinges on accessibility," said Glyn Baker, CEO of FourTwoThree. "SMEs are fundamental to the global economy, driving a significant portion of commerce, employment, and GDP. Our user data and engagement empower these businesses to fast-track their journey toward sustainability. By connecting SMEs with enhanced support, accessible financing, and innovative climate solutions, we’re not only improving their operational effectiveness but also fostering their roles as engaged customers, suppliers, and employers."
As part of its launch strategy, FourTwoThree is acquiring PointSource Technologies, a start-up nurtured by SC Ventures that focuses on making climate data actionable.
"When we founded PointSource, our vision was to create a practical solution that bridges the divide between climate aspirations and tangible action," remarked Harald Eltvedt, an operations member at SC Ventures. "We believe that by joining forces with FourTwoThree, PointSource can achieve the scale and impact necessary to address the challenges posed by climate change."