SC Ventures has announced the merger of its incubated venture, PointSource, with FourTwoThree, a smart action platform, to enhance climate action capabilities. The merger, pending regulatory approval, aims to leverage PointSource’s climate data platform to support enterprise organisations and small and medium-sized enterprises (SMEs) in their climate transition efforts.
PointSource, developed by SC Ventures, specialises in making climate data usable by mapping across various data sources, environmental, social, and governance (ESG) frameworks, and monitoring tools. This integration will enable FourTwoThree to transform climate disclosures into actionable outcomes, addressing the challenges faced by institutions in achieving net-zero goals. Harald Eltvedt of SC Ventures expressed pride in the venture’s progress, stating, “I’m proud of what the team has built, and even prouder to see it find a new home with FourTwoThree.”
Backed by NatWest Group, National Australia Bank, and SC Ventures, FourTwoThree will empower SMEs to assess their carbon emissions, identify reduction strategies, and access necessary financing. The platform was launched during London Climate Action Week, highlighting the urgent need for investment in SME decarbonisation, as reported by Cambridge University, which estimates a $50t (£50t) requirement.
This strategic merger underscores the commitment to bridging the gap between climate ambition and action, providing a robust framework for financial institutions and corporates to navigate transition finance confidently.
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