BeZero Carbon Secures US$32m to Transform Carbon Markets
BeZero Carbon, a London-based global carbon ratings agency, has raised US$32m in a Series C funding round. This latest investment will support the company’s expansion into compliance markets such as the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) while furthering its automation capabilities to meet growing demand.
The funding round, led by GenZero, a Singapore-based decarbonisation investment firm, also received support from Japan Airlines, the Translink Innovation Fund and existing investors like EDF Pulse Ventures, Hitachi Ventures and Intercontinental Exchange (ICE). The significant backing reflects the rising interest in carbon markets and the innovative companies operating within them.
So, what sets BeZero apart in this competitive and rapidly evolving field and what implications could this funding have for procurement professionals and their organisations?
Bringing transparency to carbon markets
Since its founding in 2022, BeZero Carbon has aimed to tackle a persistent challenge in the carbon markets: the lack of alignment between the price of carbon credits and their actual climate impact.
The company’s proprietary ratings platform addresses this by offering an 8-point scale that evaluates project quality and risk. This standardised measure creates a framework for pricing premiums, helping buyers understand the value behind the credits they purchase.
“When we launched, there was no correlation between the climate impact of a carbon project and the price of a carbon credit,” explains Tommy Ricketts, BeZero’s CEO and Co-Founder.
“Now, every incremental notch on our rating scale commands an average 40% price premium.”
BeZero provides ratings, scientific analysis and data for over 480 carbon credit projects worldwide, serving more than 100 corporate subscribers. Its clients include major players like UBS, Sumitomo, Emirates NDB, Equinor and Woodside Energy. Beyond individual users, the platform is also embedded in over 40 third-party platforms, such as Bloomberg and operates in more than 30 countries.
For procurement teams, this level of transparency and benchmarking can be invaluable in assessing the credibility and cost-effectiveness of offset options. BeZero’s work helps organisations ensure their investments in carbon credits align with their sustainability goals, which are increasingly under scrutiny from stakeholders.
Scaling up with new funding
The US$32m injection will enable BeZero to extend its ratings coverage to include domestic and sovereign compliance markets, alongside global initiatives like CORSIA. These areas are critical for organisations navigating mandatory emissions targets, especially those in heavily regulated industries such as aviation and energy.
Automation is another major focus for the company. By investing in Artificial Intelligence, BeZero plans to scale its data and analytics capabilities, making its platform more efficient and accessible for users. Tommy and his team of climate and data scientists will drive these advancements, ensuring the technology continues to serve as a trusted resource for carbon market participants.
Chief Innovation Officer and Co-Founder of BeZero Carbon, Sebastien Cross, highlights how trust is central to BeZero’s mission.
“Our ratings are quickly becoming a key part of global carbon market infrastructure. Their use continues to grow as market participants seek solutions to bolster integrity,” he says.
For procurement professionals, these developments mean access to even more granular insights and higher-quality data, making it easier to compare credits and integrate them into broader sustainability strategies.
Singapore as a carbon hub
Part of BeZero’s growth strategy involves strengthening its presence in Singapore, a recognised global hub for carbon market innovation. Sebastien has temporarily relocated to Singapore to lead the company’s regional expansion efforts.
“Singapore is a world leader in innovating and nurturing carbon markets,” Sebastien notes.
“I’m excited to cement our presence here and in the broader region.”
Frederick Teo, CEO of GenZero, believes BeZero’s expansion into Singapore will reinforce confidence and transparency in the global carbon ecosystem.
“By leveraging data, internal scientific expertise and methodological insights, BeZero’s work will catalyse more capital and demand,” says Frederick.
Opportunities for procurement and beyond
BeZero’s success comes at a time when organisations are under pressure to meet ambitious net zero targets. Carbon markets, valued at US$100bn, could support 17 million jobs globally while channelling US$700bn annually into climate action.
For procurement teams, BeZero’s tools can provide a way to navigate this complex landscape, ensuring offsets are credible, impactful and aligned with organisational goals.
The funding also underscores the UK’s position as a leader in green technology. BeZero’s headquarters in London, along with its operations in New York and Singapore, reflect its global focus and ambition.
Baroness Gustafsson OBE, the UK’s Minister for Investment, calls the investment a “huge vote of confidence” in the country’s burgeoning climate tech sector.
The aviation industry’s involvement in the funding round highlights another key area of opportunity. Japan Airlines, a participant, sees BeZero as a pivotal player in advancing carbon market transparency and reliability.
“Through our collaboration, we aim to foster the development of a robust carbon ecosystem and accelerate progress towards achieving net zero CO2 emissions,” says Takao Suzuki, Executive Officer at the airline.
BeZero Carbon’s innovative approach and rapid expansion are transforming the carbon markets and providing procurement professionals with a powerful tool to achieve sustainability goals.
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