News: Carbon13 welcomes a new partnership for Net Zero
Carbon13 is delighted to announce its partnership with bp ventures to support and scale our Venture Builder. The first cohort of 50 entrepreneurs will be starting Carbon13’s 8 month programme on 16 March 2021, focused on building ventures with the potential to reduce CO2e emissions by a minimum of 10 million tonnes.
bp ventures was set up more than ten years ago to identify and invest in private, high growth, game-changing technology companies. Venturing plays a key role in bp’s strategy to tackle the dual challenge of meeting the world’s need for more energy, while at the same time reducing carbon emissions.
bp ventures is focused on the hunt for game-changing business models and value propositions which move the world (including their business) to Net Zero, and that aligns exactly with Carbon13’s mission. If we are to reach Net Zero by 2050, or to put it another way, achieve the 11.3% reduction in emissions every year that the climate needs to limit warming to 1.5 degrees, then the ecosystem needs to produce ventures which move the needle on a global scale. In 2018 the world’s economy was only able to reach a reduction in carbon intensity of just 1.6%.
We see the partnership as a significant source of mutual benefit: there is a great body of research evidence that suggests that venture builders and accelerators who closely engage with, but are not run by, corporates achieve greater success in launching viable and high-potential startups. It is this work that we are engaged in as we urgently generate the innovative ventures and value propositions that can accelerate us to Net Zero.
For further reading, our Chief Sustainability and Innovation Officer Dr Nicky Dee has written her thoughts on the partnership, which can be found here.