Planet FWD raises $10m to help CPG companies reduce their carbon footprints, develop eco-friendly products

In doing so, founder and CEO Julia Collins says she believes the world still can avoid the worst of climate change – even though it is not on target to meet fast-approaching global deadlines – and counter a mounting sense of doom that currently threatens to overwhelm even the most optimistic sustainability stakeholders.

“It is very much the case that we are not on track right now to meet global environmental goals. We have less than 100 months to reduce global emissions by 40% in order to stave off the worst of what will happen if our planet’s temperature continues to rise. And certainly, that is startling,”Collins told FoodNavigator-USA.

But, she added, “I think that climate action is the antidote to climate doom,”and Planet FWD’s goal is to help CPG companies, which currently account for 60% of global emissions, take action quickly by leveraging technology that makes it easier to understand and reduce or offset their carbon footprint.

“We help consumer brands in food and fashion and beauty to understand their carbon footprint at the product level. So, what’s my footprint? Where is it coming from? How can I reduce it? And then how can I promote carbon transparency by putting a carbon label on my product or how can I support carbon neutrality by sourcing offsets to get to zero?she said.

Planet FWD does this with software that uses an attributional approach for carbon accounting as laid out in ISO 14067 and the GHG Protocol.

With the funding announced today led by Acre Venture Partners and Congruent Ventures, Collins plans to further automate Planet FWD’s greenhouse gas inventory platform so that it can support more and larger customers.

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