Tide Launches Carbon calculator to Aid SMEs in Net Zero Goals
Tide aims to remove around 1 million tonnes of carbon by 2030.
The tool helps SMEs save time and money.
Tide, a leading business financial platform in the UK, has launched a new carbon calculator to help its customers, predominantly small and medium enterprises (SMEs), understand their carbon emissions and find ways to reduce them.
This calculator has been developed by Tide in partnership with Connect Earth, a specialist in carbon measurement.
The carbon calculator estimates and categorises carbon emissions based on business activities. SMEs and other businesses can see their carbon impact in real time and monitor the changes using the "connect insights" feature. This will give insights into how spending leads to emissions, breaking them into categories for a detailed understanding.
Read more: Samsung to Measure Carbon Emissions from Connected Devices
Around 43-53% of SMEs account for a large portion of emissions in the UK and face financial challenges in bringing down their carbon footprint. The tool plays a larger role in simplifying the process of measuring, monitoring, and managing emissions, making it more accessible and affordable.
Tide will add more features to the tool, such as automated carbon accounting, which provides a more detailed analysis of emissions from bank transactions, invoices, and accounting data. Also, the platform plans to make the tool available to customers in countries like India and Germany.
Gurjodhpal Singh, Tide India CEO and Head of Net Zero, said: “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. SMEs may have a smaller footprint individually, but they collectively contribute 43-53% of the UK’s business greenhouse gas emissions.
"We’ve already seen huge engagement from our members and today’s launch is significant, not only for Tide and the fintech industry but more importantly for SMEs. It gives them the resources they need to measure, monitor, and manage their emissions — directly through their Tide accounts.”
Alexander Lempka, CEO and co-founder, Connect Earth said: “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. This is not only essential for our planet’s future but also empowers SMEs to stand out to customers looking for sustainable options, and to procurement teams that need this data to meet their own Scope 3 (upstream) reporting requirements.
"I’m excited to see the positive impact Connect Earth and Tide can achieve with this feature now in place. As more businesses adopt these practices, we’re building a powerful movement toward transparency and sustainability across entire supply chains.”
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Source: Tide
