Tide launches a carbon calculator to help SMEs track and reduce emissions, aiming to contribute to net zero goals. The tool offers insights into carbon impact, simplifying emission management for businesses.
Tide, a leading business financial platform in the UK, has launched a carbon calculator designed to help small and medium enterprises (SMEs) understand and reduce their carbon emissions. The tool was developed in collaboration with Connect Earth, a specialist in carbon measurement.
The carbon calculator estimates and categorizes carbon emissions based on various business activities. Through the platform’s "connect insights" feature, SMEs can track their carbon footprint in real-time and gain insights into how their spending contributes to emissions. The tool breaks down emissions into categories, providing businesses with a clearer understanding of their impact.
As SMEs account for 43-53% of the UK's business greenhouse gas emissions, Tide's initiative is designed to simplify the process of monitoring and reducing carbon footprints, making it more affordable and accessible. Tide plans to add features like automated carbon accounting to further help businesses track emissions from bank transactions, invoices, and accounting data.
Gurjodhpal Singh, CEO of Tide India, emphasized the significance of this tool, stating: "Around 99% of UK businesses are SMEs, and while many of them wish to cut emissions, two-thirds have admitted that financial barriers often stand in the way." He added, “SMEs may have a smaller footprint individually, but they collectively contribute 43-53% of the UK’s business greenhouse gas emissions."
Alexander Lempka, CEO and co-founder of Connect Earth, expressed excitement over the launch, saying: "It’s fantastic to see Connect Earth’s solutions resonating with a growing number of SMEs eager to monitor, report, and reduce their carbon footprint." He further noted, "This is not only essential for our planet’s future but also empowers SMEs to stand out to customers looking for sustainable options and procurement teams needing this data for Scope 3 reporting."
Tide's carbon calculator will be available in additional markets, including India and Germany, as part of their plan to expand its impact globally.
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