Since 2019, Northzone has been a member of the LFCA, we have been offsetting our business travel and we also include a dedicated carbon clause in our term sheets.

This year we are however taking our climate action to the next level:

1) We are implementing an internal carbon fee of 100 USD/tonne on our Scope 1, 2, and business travel (Scope 3). For our remaining Scope 3, our internal fee will be 10 USD/tonne. For more information on setting a carbon fee, we highly recommend this white paper by Robert Höglund and the team at Milkywire.

2) Rather than using carbon credits, we will annually donate the fee to the Milkywire Climate Transformation Fund, alongside our friends at companies like Spotify, Klarna, and PANGAIA. The fund's goal is to achieve maximum long-term CO2 reduction or removal per dollar spent.

🌱 We're moving beyond offsetting because we believe our carbon compensation shouldn't just be about our own neutrality, but should also be linked to creating maximum climate impact. Our belief is that this donation will contribute far beyond the Northzone footprint.

🕸 Furthermore, we believe that collaboration and innovation are key to solving the climate crisis. This setting allows us to support and track the results of catalytic research in new reduction and removal techniques, and to engage in collaboration across the tech and impact ecosystems.

What is the Climate Transformation Fund (CTF)?

The Milkywire Climate Transformation Fund (CTF), launched in 2021, supports pioneering projects needed to reach global net zero. The fund has an impact-first approach, focusing on finding solutions with the greatest potential positive long-term effects for our climate and planet. The CTF is set up as an alternative or complement to only buying carbon credits.

Why the fund approach?

To keep glad waring at 1.5°C and achieve global net zero, a wide range of solutions will need to be deployed: forests need to be protected and restored, new energy solutions introduced, politicians need to be convinced to stop supporting fossil fuels, and carbon dioxide removed from the atmosphere and stored away permanently.

The fund consists of various pioneering projects within permanent carbon removal projects, decarbonisation, and protecting and restoring nature. The CTF was set up with the complexity of climate change in mind, and the varying projects are selected to address root issues related to climate change and provide innovative and responsible alternatives to offsetting.

Rather than picking a single winner like in the stock market, which is rarely a successful strategy, smart money often resides in index funds with a varied portfolio of investments. Investing in the future of our planet is no different. We need to spread our bets to ensure a long-term return on our investment. We can't afford not to.

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