Leaders in Sustainability: A Spotlight on Closed Loop Partners

Leaders in Sustainability : A Spotlight on Closed Loop Partners

Closed Loop Partners

Luba Shabal is the Senior Director of Impact Measurement & Management at Closed Loop Partners – a New York-based company investing, innovating and operating to advance the circular economy. The company is comprised of three key business segments: an investment firm, innovation center and operating group. 

The Backstory Behind Why Closed Loop Partners Chose Greenly

We sat down with Luba for a few questions to find out how the company came across Greenly and why calculating their carbon footprint is important to them.

Why did you decide to start measuring and reducing your company's carbon footprint?

Since Closed Loop Partners’ founding, our methodologies and processes for impact measurement and management have continued to advance and evolve holistically. At Closed Loop Partners, we aim to drive systems change through every investment that we make, and our impact outcomes are driven forward by the business models of our portfolio companies. Our investors also motivate us to move forward with stronger reporting and disclosures, to capture robust data and KPIs that measure emissions that have been and could be avoided as a result of our investments. As we work toward best practices in impact measurement and management, we have broadened our impact metrics to include all emissions – including both that have been produced and avoided. We believe that tracking our carbon footprint means knowing both the good and bad, and the only way to move forward is to know where there are opportunities to do better. This way, we can track the full scope of our carbon footprint. 

Why is it important for other business leaders in your industry to do carbon accounting? And how can a circular economy help scale carbon reduction in the US? 

"Addressing a challenge as complex as climate change cannot be done in isolation––it requires concerted action, alignment and accountability toward shared goals. Measuring and managing our carbon footprints across the investment industry is a critical step to making meaningful impact,” says Tazia Smith, COO & Head of Capital Partnerships at Closed Loop Partners. “Scaling the infrastructure needed to keep valuable materials in circulation is key to achieving net zero goals. The circular economy is a critical part of the solution, and Closed Loop Partners is proud to play a leading role in its advancement.”  

In search of the best carbon accounting partner, we issued requests for proposals to 20 carbon providers, and asked our portfolio companies to vote on their optimal choice. We evaluated and scored each based on the reach and expertise of the company and effectiveness and fit of their product. Ultimately, our portfolio companies selected Greenly, not only because of their extensive client base and knowledge of various industries such as our own, but also for their easy, user-friendly interface and approach to client support. Greenly offers to measure emissions not only within the three standard scopes but also included scope four, which stood out to us. 

What got you personally interested in fighting climate change?

I came to the U.S. 10 years ago to save the world from waste. A decade ago, my mission was to gain experience in areas that dealt with recycling and waste, energy or the circular economy. What I realized later on was that climate change, waste and renewable resources are all deeply interrelated. For example, in terms of greenhouse gas emissions, 70% of global emissions are associated with materials management––how we use, manufacture and discard our products. By keeping materials in play, the circular economy aims to eliminate waste and the emissions associated with it. This is how I found my passion for circularity, as it is a key part of the solution to climate change. 

So in terms of your industry, where do you see the trend going in sustainability and climate change? Do you see it growing? And how do you feel it's really going to evolve in this space?

Over the last decade, over 400 different green standards were developed globally. While this pointed to the increasing importance of impact measurement, this also led to much confusion in the space. Today, we are seeing consolidation, standardization and increased transparency in impact management and measurement––a key step forward, as this standardization ensures alignment and consistency in reporting and disclosing emissions. The interest and demand for transparency continues to rise, which is where we think the market needs to go to achieve a higher standard of impact management. As this takes center stage, carbon accounting will continue to be a key solution for those seeking to establish greater transparency

Eiffel Investment Group chooses Greenly to reduce its portfolio emissions. This independent management company specialising in corporate finance has completed its carbon assessment and earned its first badge in its Net Zero trajectory!

Eiffel Investment Group participates in efforts to reduce CO2 emissions with Greenly

Eiffel Investment Group Carbon Footprint - Greenly

Head of Equity Management at Eiffel Investment Group

We place the social and environmental impact of our investments on society at the heart of our investment philosophy.

<h2>ITV - Background & Objectives 🔍</h2><p>Eiffel Investment Group is an independent asset management company specialising in corporate finance. Eiffel's ambition is to support the companies it finances in major transitions, whether economic, social or environmental. To this end, we have just introduced an Eiffel pack. This pack aims to support companies in their major social and environmental transitions. One of the components of this pack is precisely to offer companies a greenhouse gas emissions assessment, so that they can become aware of their impact and draw up an action plan to reduce this impact on the environment.</p><p>‍</p><div class="container_img"><img src="https://uploads-ssl.webflow.com/6232f79b68d15d3d9b69c096/6241b6bbe87b1e53cdaa6c1a_61faac5fd6f552d0f8a05122_samson-ZGjbiukp_-A-unsplash-1%20(1).jpg" loading="lazy" /></div><h2>Why Greenly?</h2><p>We chose Greenly after testing it, so that we could offer a solution that is pragmatic, that automates a large part of the process and that provides readable information to help companies establish concrete action plans to reduce their carbon footprint.</p><p><br></p><p>‍</p><h2>Eiffel Investment Group's carbon footprint update 📊</h2><p>This carbon assessment confirmed that our emissions were mainly indirect and resulted from our purchases of services and digital emissions.</p><div class="container_img"><img src="https://uploads-ssl.webflow.com/6232f79b68d15d3d9b69c096/6241b6cbbbdbeeb55e22c80a_61faac966549dabf603bea1f_cynthia-magana-mFPJXEQfb9M-unsplash-p-1080.jpeg" loading="lazy" /></div><h2>Eiffel Investment Group wants to reduce its emissions 📉</h2><p>In concrete terms, we have been able to identify areas for improvement at various levels: implementation of a purchasing policy that takes into account the carbon footprint, raising the awareness of our suppliers about our main emission sources, implementation of a charter of good practices to govern travel and office life (journeys, paper consumption, lighting, waste sorting).</p><div class="container_img"><img src="" loading="lazy" /></div><h2></h2>

When France Invest contacted Greenly, the association's objective was to carry out a simple GHG assessment. Today, France Invest has earned its first badge towards its Net Zero trajectory!

France Invest joins the fight against climate change with the help of Greenly

France Invest carries out its GHG assessment with Greenly!

France Invest - Carbon Footprint - Greenly

<h2>ITV - Why did you carry out a GHG assessment? 🤔</h2><p>To reduce our GHG emissions, we have to start by measuring them. This is why we decided to calculate our carbon footprint with Greenly. This will enable us to better structure our environmental policy and to draw up an action plan to reduce our emissions in the long term. </p><p><strong>Why Greenly?</strong></p><p>The measurement solution proposed by Greenly is simple and intuitive, while also being fast and efficient. Moreover, Greenly's solution has received great reviews from their customers, and they've been awarded the French Tech Green 2020 label.</p><p>‍</p><div class="container_img"><img src="https://uploads-ssl.webflow.com/6232f79b68d15d3d9b69c096/623aef1137a06c222c96701b_6203fae8c43cb369dd4246f7_GettyImages-1249102010-DET_bis_resize%201%20(1).jpg" loading="lazy" /></div><h2>France Invest's carbon footprint update 📊</h2><p>France Invest's carbon footprint takes into account not only direct and energy-related emissions (Scope 1 &amp; 2) but also indirect emissions caused by service providers and services used by the company (Scope 3). Adding up all the emissions, France Invest had a footprint of 249t CO2e in 2020.</p><p>Thus, France Invest's current Climate Greenly Score is C. 5% of French companies achieve this score, as most companies score below this. France Invest is therefore ranked in the top 10% of the most virtuous organisations.</p><p>‍</p><h2>France Invest wants to reduce its emissions 📉</h2><p>The definition of the action plan is underway. To achieve our objective, we intend to involve managers for each major emission item. We are therefore going to work together with the departments concerned to define the possible and impactful reduction actions.</p><div class="container_img"><img src="https://uploads-ssl.webflow.com/6232f79b68d15d3d9b69c096/623af0800ab9eb7a407a8dbb_6203faecf8a2e802c331dd8c_46%201-p-500.jpg" loading="lazy" /></div><h2></h2><div class="container_img"><img src="" loading="lazy" /></div>

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NextStage AM carries out its carbon assessment

NextStage AM Carbon Footprint - Greenly

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