Climate & Biodiversity Data Provider Iceberg Data Lab Raises $10 Million to Fund Expansion – ESG Today
Climate & Biodiversity Data Provider Iceberg Data Lab Raises $10 Million to Fund Expansion ESG Today
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Iceberg Data Lab Raises $10 Million in Series A Funding
Paris-based environmental data provider, Iceberg Data Lab (IDL), has announced the successful first close of its Series A funding round, raising $10 million. The funds will be used to support the company’s expansion and strengthen its product offerings.
Providing Data Solutions for Sustainable Finance
Founded in 2019, IDL offers data solutions for financial institutions to measure and monitor environmental metrics. By utilizing AI and big data, the company enables institutions to analyze the carbon and biodiversity footprints of their portfolio companies, allowing them to assess the impact of their investments. Currently, IDL’s platform is utilized by over 50 major financial institutions globally, including HSBC, BNP Paribas, and Euronext.
Meeting the Growing Demand for Environmental Data
IDL’s latest funding comes at a time when financial institutions are increasingly seeking accessible, reliable, and high-quality environmental data. This demand is driven by a surge in environmental regulations, such as the EU’s CSRD and Deforestation Regulation (EUDR), as well as the recently published recommendations of the Taskforce on Nature-related Financial Disclosures (TNFD).
Global Expansion and Product Development
The raised capital will be used to expand IDL’s global presence, with a particular focus on strategic markets like the UK. Additionally, the company plans to further develop its product pipeline and invest in cutting-edge technologies to enhance its client solutions offering.
CEO’s Vision for the Future
“We are so proud to have achieved the first close of our second funding round at Iceberg Data Lab, which strengthens our position as an emerging leader in the global ESG data market. In this next stage of growth, we will aim to help our clients accelerate their transition journeys to align with global environmental goals, and mitigate the negative impacts of climate change, protect natural habitats, and curb biodiversity loss.” – Matthieu Maurin, CEO and Co-Founder of IDL
Investors and Final Funding Target
The Series A funding round was led by venture capital investor Beringea, with additional funding from French VC fund MAIF Avenir and AXA Investment Managers, as well as other existing investors. IDL aims to achieve a final close of $11 million for its Series A.
Enabling Compliance and Driving Impact at Scale
“Financial institutions are having to adapt rapidly to a complex and evolving environmental regulation, driven by global consensus on the need to tackle the climate crisis and biodiversity loss. Iceberg Data Lab is unique in partnering granular environmental data with comprehensive, AI-enabled solutions in a scalable way. This enables asset managers, asset owners, and banks to comply with regulation, streamline reporting, launch new products including biodiversity-focused ETFs, and ultimately drive impact at scale.” – Piotr Bukanski, Investment Manager at Beringea UK
SDGs, Targets, and Indicators
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 13: Climate Action
- SDG 14: Life Below Water
- SDG 15: Life on Land
The article discusses the need for financial institutions to measure and monitor environmental metrics, such as carbon and biodiversity footprints, to analyze the impact of their investments. This aligns with the goals of SDG 13, which focuses on taking urgent action to combat climate change and its impacts. Additionally, the mention of biodiversity-focused ETFs and the Taskforce on Nature-related Financial Disclosures (TNFD) indicates a connection to SDG 14 (Life Below Water) and SDG 15 (Life on Land), which aim to protect and restore ecosystems and biodiversity.
2. What specific targets under those SDGs can be identified based on the article’s content?
- Target 13.2: Integrate climate change measures into national policies, strategies, and planning.
- Target 14.2: Sustainably manage and protect marine and coastal ecosystems.
- Target 15.9: By 2020, integrate ecosystem and biodiversity values into national and local planning, development processes, poverty reduction strategies, and accounts.
The article highlights the need for financial institutions to measure environmental metrics and analyze the impact of investments. This aligns with the targets under SDG 13, SDG 14, and SDG 15, which emphasize the integration of climate change measures, sustainable management of marine and coastal ecosystems, and the integration of ecosystem and biodiversity values into planning and development processes.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- Carbon footprint
- Biodiversity footprint
- Environmental data quality and accessibility
The article mentions that Iceberg Data Lab provides data solutions for financial institutions to measure and monitor environmental metrics, such as carbon and biodiversity footprints. These metrics can be used as indicators to measure progress towards the identified targets. Additionally, the article highlights the need for more accessible, reliable, and higher quality environmental data, indicating that environmental data quality and accessibility can also be used as indicators.
SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 13: Climate Action | Target 13.2: Integrate climate change measures into national policies, strategies, and planning. | – Carbon footprint – Environmental data quality and accessibility |
| SDG 14: Life Below Water | Target 14.2: Sustainably manage and protect marine and coastal ecosystems. | – Biodiversity footprint – Environmental data quality and accessibility |
| SDG 15: Life on Land | Target 15.9: By 2020, integrate ecosystem and biodiversity values into national and local planning, development processes, poverty reduction strategies, and accounts. | – Biodiversity footprint – Environmental data quality and accessibility |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: esgtoday.com
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