The tool aims to provide Tide's UK members with an estimated and categorised view of their carbon emissions based on their financial activity. The carbon calculator, integrated with Connect Earth’s dashboard, Connect Insights, will enable businesses to monitor real-time estimates of their emissions and observe changes over time. Using models and databases from Connect Earth, the tool categorises emissions and offers an overall carbon footprint estimate.
The launch is part of Tide's commitment to supporting small and medium-sized enterprises (SMEs) in achieving net-zero emissions. In 2023, the company pledged to simplify the journey toward carbon neutrality for its members. Additional features, such as automated carbon accounting for transactions, invoices, and accounting data, are planned as part of the partnership with Connect Earth. These tools will provide businesses with strategies and insights to help reduce emissions.
Looking ahead, Tide intends to expand its carbon-related initiatives globally. With 400,000 members in India and its recent entry into Germany, the company plans to introduce similar tools in these markets. According to the official press release, by 2030, Tide aims to facilitate the removal of one million tonnes of carbon dioxide equivalents (CO2e) through its network of member businesses.
Representatives from Tide India highlighted the significant role SMEs play in the UK’s emissions landscape. They noted that financial barriers often hinder these businesses from pursuing sustainability goals, emphasising the importance of providing accessible tools for measuring and managing emissions directly through Tide’s platform.
Connect Earth officials stressed the growing interest among SMEs in tracking and reducing emissions, noting that these efforts not only benefit the environment but also enhance businesses' appeal to eco-conscious customers and procurement teams. They expressed optimism about the impact of Tide’s integration of Connect Earth’s solutions in promoting sustainability across supply chains.
Founded in 2015 and launched in 2017, Tide offers financial and administrative services designed for SMEs, including business accounts, invoicing, and accounting solutions.
Connect Earth provides financial institutions with tools to measure and report customer carbon emissions. Using advanced data models and AI-driven APIs, the company enables detailed carbon footprint analysis, offering insights into emission reduction opportunities and regulatory compliance.
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