Climate Vault + Genpact: Supercharging progress in carbon reduction and removal

Reduce. Remove. Reinvent.

Climate Vault stands out as a business with a bold and inspiring vision. It aims to successfully eliminate 10 million metric tons of carbon emissions from the atmosphere by the end of 2025. That's the equivalent of taking more than two million cars off the road for an entire year.

As the world's leading integrated market-based solution, Climate Vault enables organizations to not only reduce carbon but also remove it from the atmosphere – all in the fastest, easiest, and most credible way. That's why Fast Company named it a World Changing Ideas finalist.

It is an exciting proposition – a high-growth, high-speed start-up with a vision that resonates with businesses and consumers worldwide: the ability to mitigate your environmental impact instantly. However, due to manual internal processes, Climate Vault was not achieving this ambition as quickly as it could.

That's when Genpact came on board. By implementing data automation and advanced digital technologies, Genpact helped Climate Vault to expand its offering, boost visibility, and bring its solution to more people.

This is the story of how we worked together with a shared purpose and how the results are set to have a transformative impact on climate change.

Climate change is fundamentally the greatest challenge of our time. At its core, it's a data issue. Turning granular emissions data from manufacturing, shipping, operations, and other practices into insights, action, and outcomes will create the profound impact our planet needs. Climate Vault understood this well. It knew businesses and consumers alike were crying out for better ways to reduce their environmental impact. Yet it just didn't have a large enough team or the necessary technology to provide its solutions as quickly and effortlessly as it knew was possible.

The main challenges were a lack of visibility of data and an inability to access real-time information. The Climate Vault team had to offer quotes, take orders, and update its emission allowance inventory in Excel spreadsheets. This process was time-consuming and open to errors, which created pricing risk because the cost of emission allowances fluctuates. It also took focus away from higher-value tasks such as venting projects or speaking to new customers. And, without a succinct digital paper trail, auditing and reporting were labor-intensive.

In addition, clients were keen to bring Climate Vault's solution into their systems and offer it to their own employees and customers. This was another key goal for Climate Vault: providing the ability to calculate and reduce the environmental impact of purchases at the checkout stage when shopping online. It's a simple nudge to change consumer behavior and protect the planet. But this needed to be done in a way that wouldn't slow down the transaction.

The upshot of these issues? Limited operational capacity, user experiences left lacking, and an inability for Climate Vault to expand its client base.

Together, we set about turning manual tasks to digital. The initial stage of our work involved discussions with the CTO and product owners, and it culminated in a collaborative strategy and design-thinking workshop in Boston. At every step, Genpact ensured Climate Vault teams had clear and in-depth knowledge of all aspects of the project, from code to designs. That way, they could take ownership of the technology moving forward.

Automating pricing and inventory management

By strengthening the company's data foundations and automating data processing and consumption, we enabled Climate Vault to better manage emission allowances. To calculate the right prices, we improved how the company receives and manages data. This includes information on the production of goods and services, SKUs, shipping details, daily pricing, and available allowances in Climate Vault's inventory.

This work eliminates price risk and allows Climate Vault to provide real-time carbon pricing to clients.

This partnership has given Climate Vault the confidence to expand its abilities and become a more data-driven organization. Where once it was constrained by manual processes and a lack of visibility, it now has instant access to the information it needs, and core tasks have been automated. Digital technology has removed roadblocks and boosted Climate Vault in a number of areas:

Scale

Not only has enhanced integration and automation increased the number of transactions and clients Climate Vault can handle, but the ability to place smaller transactions and aggregate large amounts of data quickly is opening up new markets.

For end consumers, reducing the environmental impact of an online purchase can now be quoted in exacting detail, based on data relating to product specifications, shipping methods and volumes, locations, and other factors. All at speed, all with minimal effort.

Real-world potential for change

Climate Vault's solution can now be used to:

• Enable employers to connect carbon reduction and removal to employees' benefits so each member of staff can reduce their personal carbon footprint
• Allow SaaS providers (such as billing software, accounting software) to integrate carbon reduction options into their products
• Help loyalty programs and members (such as frequent fliers) to easily donate and apply unused points to carbon reductions and removal
• Connect a carbon emission calculator and purchase option into mobile apps – for instance, allowing consumers to reduce the impact of their journeys on ride-hailing apps

With Genpact's help, Climate Vault has accelerated change and reached major milestones much faster than expected. It is now in the position to hit targets that would otherwise have been five years away. This has also enabled staff to turn their focus onto other growth areas and speed those projects up too.

Long-term vision

Towards a carbon-neutral world

Climate Vault's goals have always been laudable. Together, we have accelerated the journey toward success and energized the people involved. Now, Climate Vault is ideally placed for the future. It is in the rare position of being perfectly aligned with the motivations of both its clients and their customers. There is rapidly growing demand from investors, employees, and consumers for organizations to take swift carbon action. Climate Vault can help them do just that.

What once seemed an ambitious vision is now a concrete plan, backed by effective technology and the knowledge required to make the most of it, enabling individuals and businesses to take advantage of game-changing reduction and removal solutions with minimal effort.

Together, Climate Vault and Genpact are driving businesses forward and creating a world worth inheriting.