New markets emerge for carbon accounting businesses as cities like LA push proposals

Comment

GettyImages 1155300963
Image Credits: Getty Images under a license.

Earlier this month, Los Angeles became the latest city to task its various departments with prepping a feasibility study for deploying new software and monitoring technologies to better account for its carbon footprint.

LA’s city council initiative, led by council member Paul Koretz, follows a push from the state legislature to mandate that all businesses operating in California that gross over $1 billion annually disclose their greenhouse gas emissions and set science-based targets to reduce those emissions.

California is far from the only state in the U.S. that’s feeling the disastrous effects of global climate change, but it’s among the most aggressive in trying to address the causes. Whether that’s a dramatic effort to remove fossil fuels from its power supply or the proposal to make businesses accountable for their contributions to climate change, California has been a leader in trying to encourage the adoption of new technology and services that can mitigate the impact of climate change and reverse course on the production of greenhouse gas emissions.

With this move, Los Angeles wants to hitch its wagon to this momentum and is actively looking for tech businesses that can help with carbon accounting.

That means good things for companies like CarbonChain, Persefoni, ClimateView and SINAI Technologies, which all have offerings meant to help with carbon accounting and management.

It shows that some of the largest cities, with billion dollar budgets, will open their wallets to pay for the tools they need to get a better handle on how they’re contributing to the climate change that threatens their own citizens.

In Los Angeles, the city council tasked the Los Angeles Bureau of Sanitation and chief legislative analyst to report back on the feasibility of developing or buying technology to provide a more accurate accounting of the city’s carbon footprint.

“The City provides a number of services — from lighting and maintaining municipal buildings, facilities and streetlights, to paving roads and operating a transit fleet, and delivering water and operating reclamation facilities — all of which come with environmental impacts,” said council member Koretz in a statement earlier this month. “If we’re going to take our carbon reduction goals seriously, and make a real difference in the lives of frontline communities near LAX and the Port of Los Angeles, we need a better, more consistent, and more transparent accounting of our emissions.”

Los Angeles has steadily worked to give climate change and climate friendly policies a more central role in political discussions. Roughly two years ago, in July 2019, Los Angeles set up an office of climate emergency and earlier this year Mayor Eric Garcetti launched the climate emergency mobilization office to coordinate activity between civic leaders, the mayor’s office and the city council. 

Budget hasn’t been allocated for the accountability plan, but people familiar with the city council’s plan expect that implementation could begin in the 2021-2022 budget cycle.

Los Angeles has tried to address its carbon footprint in the past, but the efforts weren’t very successful. The study was conducted using historical emissions data and did not include the “scope three” emissions, which refer to the greenhouse gas emissions created by service providers for the city’s operations.

As the City of Angels looks to improve its ability to provide accountability and metrics on its contribution to climate change, it could do worse than look at the standard that’s been set by New York City. Under the Bloomberg Administration, carbon accounting and resiliency measures became a priority — even before Hurricane Sandy made clear that the city was highly exposed to climate and weather-related disasters.

That 2012 storm inflicted nearly $70 billion in damage and killed 233 people across eight countries from the Caribbean to Canada.

The disaster only furthered New York’s resolve to be more aggressive with its climate action. The city has a robust accounting program for emissions from its operations and is moving forward with policies across the city to reduce greenhouse gas emissions from the built environment, transportation and industry.

“Data drives decision-making and without data, we cannot chart a path toward a zero-emission future,” said council member Joe Buscaino. “Today’s generation of leaders must continue to address climate change with urgency and be held accountable to the goals we set for Los Angeles, and this motion sets us on the path to do just that.”

Corporate sustainability initiatives may open doors for carbon offset startups

More TechCrunch

One 97 Communications, the parent company of India’s leading digital payments platform Paytm, widened its consolidated net loss to $66.1 million in the quarter ending March, compared to a loss…

Paytm counts costs of regulatory clampdown as losses swell

Government officials and AI industry executives agreed on Tuesday to apply elementary safety measures in the fast-moving field and establish an international safety research network. Nearly six months after the…

In Seoul summit, heads of states and companies commit to AI safety

Copilot, Microsoft’s brand of generative AI, will soon be far more deeply integrated into the Windows 11 experience.

Microsoft wants to make Windows an AI operating system, launches Copilot+ PCs

Some startups choose to bootstrap from the beginning while others find themselves forced into self funding by a lack of investor interest or a business model that doesn’t fit traditional…

VCs wanted FarmboxRx to become a meal kit, the company bootstrapped instead

Uber and Lyft drivers in Minnesota will see higher pay thanks to a deal between the state and the country’s two largest ride-hailing companies. The upshot: a new law that…

Uber’s and Lyft’s ride-hailing deal with Minnesota comes at a cost

Andreessen Horowitz’s American Dynamism fund has established a new fellowship program aimed at introducing top engineers and technologists to venture investing, a move that could help the firm identify less…

a16z’s American Dynamism team launches program to introduce technical minds to VC

Another fintech startup, and its customers, has been gravely impacted by the implosion of banking-as-a-service startup Synapse. Copper Banking, a digital banking service aimed at teens, notified its customers on…

Teen fintech Copper had to abruptly discontinue its banking, debit products

Autodesk — the 3D tools behemoth — has acquired Wonder Dynamics, a startup that lets creators quickly and easily make complex characters and visual effects using AI-powered image analysis. The…

Autodesk acquires AI-powered VFX startup Wonder Dynamics

Farcaster, a blockchain-based social protocol founded by two Coinbase alumni, announced on Tuesday that it closed a $150 million fundraise. Led by Paradigm, the platform also raised money from a16z…

Farcaster, a crypto-based social network, raised $150M with just 80K daily users

Microsoft announced on Tuesday during its annual Build conference that it’s bringing “Windows Volumetric Apps” to Meta Quest headsets. The partnership will allow Microsoft to bring Windows 365 and local…

Microsoft’s new ‘Volumetric Apps’ for Quest headsets extend Windows apps into the 3D space

The spam reached Bluesky by first crossing over two other decentralized networks: Mastodon and Nostr.

The ‘vote Trump’ spam that hit Bluesky in May came from decentralized rival Nostr

Welcome to TechCrunch Fintech! This week, we’re looking at the continued fallout from Synapse’s bankruptcy, how Layer wants to disrupt SMB accounting, and much more! To get a roundup of…

There’s a real appetite for a fintech alternative to QuickBooks

The company is hoping to produce electricity at $13 per megawatt hour, which would be more than 50% cheaper than traditional onshore wind.

Bill Gates-backed wind startup AirLoom is raising $12M, filings reveal

Generative AI makes stuff up. It can be biased. Sometimes it spits out toxic text. So can it be “safe”? Rick Caccia, the CEO of WitnessAI, believes it can. “Securing…

WitnessAI is building guardrails for generative AI models

It’s not often that you hear about a seed round above $10 million. H, a startup based in Paris and previously known as Holistic AI, has announced a $220 million…

French AI startup H raises $220M seed round

Hey there, Series A to B startups with $35 million or less in funding — we’ve got an exciting opportunity that’s tailor-made for your growth journey! If you’re looking to…

Boost your startup’s growth with a ScaleUp package at TC Disrupt 2024

TikTok is pulling out all the stops to prevent its impending ban in the United States. Aside from initiating legal action against the U.S. government, that means shaping up its…

As a US ban looms, TikTok announces a $1M program for socially driven creators

Microsoft wants to put its Copilot everywhere. It’s only a matter of time before Microsoft renames its annual Build developer conference to Microsoft Copilot. Hopefully, some of those upcoming events…

Microsoft’s Power Automate no-code platform adds AI flows

Build is Microsoft’s largest developer conference and of course, it’s all about AI this year. So it’s no surprise that GitHub’s Copilot, GitHub’s “AI pair programming tool,” is taking center…

GitHub Copilot gets extensions

Microsoft wants to make its brand of generative AI more useful for teams — specifically teams across corporations and large enterprise organizations. This morning at its annual Build dev conference,…

Microsoft intros a Copilot for teams

Microsoft’s big focus at this year’s Build conference is generative AI. And to that end, the tech giant announced a series of updates to its platforms for building generative AI-powered…

Microsoft upgrades its AI app-building platforms

The U.K.’s data protection watchdog has closed an almost year-long investigation of Snap’s AI chatbot, My AI — saying it’s satisfied the social media firm has addressed concerns about risks…

UK data protection watchdog ends privacy probe of Snap’s GenAI chatbot, but warns industry

U.S. cell carrier Patriot Mobile experienced a data breach that included subscribers’ personal information, including full names, email addresses, home ZIP codes and account PINs, TechCrunch has learned. Patriot Mobile,…

Conservative cell carrier Patriot Mobile hit by data breach

It’s been three years since Spotify acquired live audio startup Betty Labs, and yet the music streaming service isn’t leveraging the technology to its fullest potential — at least not…

Spotify’s ‘Listening Party’ feature falls short of expectations

Alchemist Accelerator has a new pile of AI-forward companies demoing their wares today, if you care to watch, and the program itself is making some international moves into Tokyo and…

Alchemist’s latest batch puts AI to work as accelerator expands to Tokyo, Doha

“Late Pledge” allows campaign creators to continue collecting money even after the campaign has closed.

Kickstarter now lets you pledge after a campaign closes

Stack AI’s co-founders, Antoni Rosinol and Bernardo Aceituno, were PhD students at MIT wrapping up their degrees in 2022 just as large language models were becoming more mainstream. ChatGPT would…

Stack AI wants to make it easier to build AI-fueled workflows

Pinecone, the vector database startup founded by Edo Liberty, the former head of Amazon’s AI Labs, has long been at the forefront of helping businesses augment large language models (LLMs)…

Pinecone launches its serverless vector database out of preview

Young geothermal energy wells can be like budding prodigies, each brimming with potential to outshine their peers. But like people, most decline with age. In California, for example, the amount…

Special mud helps XGS Energy get more power out of geothermal wells

Featured Article

Sonos finally made some headphones

The market play is clear from the outset: The $449 headphones are firmly targeted at an audience that would otherwise be purchasing the Bose QC Ultra or Apple AirPods Max.

17 hours ago
Sonos finally made some headphones