ClimateView has unveiled plans to help the growing numbers of cities with net zero commitments identify the most cost-effective route to decarbonise their economies as it announced the close of a €10m funding round.
Newcastle, Mannheim and Bern are among more than 30 cities and municipalities across six countries that already use the technology company’s unique ClimateOS platform to define and implement a comprehensive strategy to meet their climate targets and manage the complexities of the low-carbon transition.
ClimateView will use the investment to enhance ClimateOS and make it available in additional markets in Europe, North America and beyond. It is about to pilot functionality that will allow cities to identify the costs of each of the numerous shifts they can take to cut emissions – from encouraging uptake of EVs to retrofitting old buildings to make them more energy efficient – and their co-benefits, such as better health through cleaner air and warmer homes.
The funding round was led by CommerzVentures, the specialist fintech investor, and NordicNinja, the Nordic-Japanese venture capital fund.
Paul Morgenthaler, Partner at CommerzVentures, said: “Cities around the world are placing carbon reduction at the heart of their agenda and looking to cut emissions across every sector of their economy.
“ClimateView’s technology makes this complex challenge manageable, enabling effective decarbonisation strategies that can deliver thriving and sustainable economies – an essential tool for any global city. ClimateView has unlocked the vital ability for cities to win greater investments into robust climate action plans and we’re delighted to be investing in this essential business.”
Tomosaku Sohara, Managing Partner at NordicNinja and former deputy director for green and climate finance at Japan Bank for International Cooperation, said: “I understand the struggle cities face to identify their best route to climate neutrality and to coordinate action on many fronts.
“That’s why I knew the moment I met ClimateView that it has the solution cities all over the world are seeking. We are thrilled that our investment will allow it to expand globally and help cities make a faster transition to net zero.”
Cities are central to meeting global climate targets, consuming more than two thirds of the world’s energy, and responsible for over 70% of global carbon emissions. They are also at high risk from the impacts of climate change, with more frequent and extreme weather events such as flooding, hurricanes, wildfires, drought and heatwaves causing devastation worldwide.
Pressure for action is growing in the run-up to the Glasgow climate summit in November. The Intergovernmental Panel on Climate Change warned last month that “immediate, rapid and large-scale reductions” in emissions are needed to limit global heating to 1.5°C and avoid the worst impacts of climate change. UN Secretary General Antonio Guterres called its conclusions “a code red for humanity”.
More than 700 cities have already committed to reaching net zero by 2050, but they have complex economies, and to plan effective action they must understand emissions from thousands of activities and develop comprehensive plans to decarbonise key sectors such as transport, buildings, industry, energy and waste.
Tim Rippon, Senior Climate Change Advisor with Newcastle City Council, said: “The wholesale decarbonisation of a city is something that’s never been done before and the challenge is absolutely enormous. ClimateView gives us the platform we need to develop and roll out an ambitious climate action plan.
“By breaking the net zero challenge down into bite-size chunks you can understand how each will contribute to cutting carbon, start setting year by year transition targets, and then build a robust set of actions on this framework.”
Digital twin enables cities to explore different routes to net zero
ClimateOS is already used by cities in six markets: Sweden, the UK, Germany, Switzerland, Spain and Canada. It offers a unique range of functions that help cities develop, implement and manage comprehensive climate action plans and accelerate action to decarbonise their economy.
It creates a digital twin city reflecting the complexity of each city’s economy, populated with the best data available from national and international statistics and the city’s own sources. The comprehensive database is regularly updated and saves cities the time-consuming work of gathering this data themselves.
ClimateOS enables cities to make an immediate start on identifying the best transition path to meet local needs. It models the impact of low-carbon initiatives, allowing leaders to explore different ways of meeting their carbon targets.
ClimateView aims to roll out enhanced functionality in early 2022 which will identify the costs and co-benefits of each initiative, making it easier for cities to make the economic case for their climate plans, minimise financial risk, and win support for investment.
ClimateOS provides a single platform on which cities can manage their transition to a zero carbon economy, integrating targets, plans and budgets. This encourages collaboration between departments and decision-making at scale and speed.
The result is a living climate action plan which is dynamically updated as new data comes in, allowing cities to monitor the impact of their activities, share progress and refine strategy in a cycle of continuous improvement.
Dominik Stroh, Project Manager, Climate Protection Monitoring, Mannheim City, said: “ClimateView supports Mannheim’s transition to becoming a climate-neutral city by giving us a clear picture of where our emissions come from and the shifts we can make to reduce them. The unique benefit of its technology, for us, is that it intelligently links data from numerous activities so we can create a holistic, citywide plan of action.”
Tomer Shalit, ClimateView founder and Chief Product Officer, said: “Cities have to cut carbon fast, but it’s hard to plan how to meet their commitments while maintaining a thriving economy. ClimateOS enables them accelerate climate action, helping them identify their best route to net zero, make the right investments, and manage a successful transition in one living climate action plan.”
ClimateOS was first piloted as Panorama, a climate dashboard that the Swedish government uses to make its decarbonisation plans publicly available. ClimateView developed it for the Swedish Climate Policy Council, the independent body which assesses whether government policy is in line with its climate goals.
Norrsken, 2050.VC and Gaingles also took part in the Series A funding round that has just closed. It builds on €4.5m raised in ClimateView’s seed rounds, taking the company’s total investment to €14.5m.