14th November 2024: Olive Gaea, a leading climate-tech startup, has officially expanded its operations into India, marking a significant milestone in its mission to accelerate the decarbonization efforts of businesses across the globe. This launch comes as the global climate summit COP29 dominates headlines, highlighting the critical need for comprehensive climate action solutions worldwide. The company, backed by Cornerstone Ventures, a venture capital firm specializing in business-to-business (B2B) enterprise technology investments, provides a cutting-edge AI-powered platform for carbon accounting, decarbonization, and ESG risk management and reporting.

With growing regulatory pressures and heightened awareness around sustainability, Olive Gaea is set to address the increasing demand for reliable and scalable climate action tools in India. The company’s flagship product, Zero by Olive Gaea, leverages artificial intelligence to simplify the process of measuring, reducing, offsetting, and reporting carbon emissions in line with global standards. The platform is designed to help businesses navigate their journey towards Net Zero by automating complex carbon management tasks and providing actionable insights.

Vivek Tripathi, Co-founder and CEO of Olive Gaea commented, “India’s ambitious climate targets, including a 45% reduction in emissions intensity by 2030 and a commitment to reach net zero by 2070, make it a critical market for Olive Gaea. The rising demand for sustainable practices within India’s corporate sector is necessary and urgent. With the launch of our AI-powered Zero platform, we aim to support Indian enterprises in aligning with these goals by facilitating precise carbon tracking and robust emissions management. By equipping businesses to meet international climate standards, we’re enabling them to position themselves as leaders in the global transition to a low-carbon economy.”

Olive Gaea’s expansion into India follows its successful track record in the UAE and Saudi Arabia, where it has assisted businesses in various sectors, including construction, banking, manufacturing, and logistics, in managing their carbon footprints. As part of its offerings, Olive Gaea’s platform adheres to global frameworks such as the Greenhouse Gas (GHG) Protocol, the Science Based Targets Initiative (SBTi), Partnership for Carbon Accounting Financials (PCAF), and the Task Force on Climate-related Financial Disclosures (TCFD), among others. The platform also enables businesses to track and manage additional environmental, social, and governance (ESG) topics, reporting them transparently and compliantly.

The company provides other innovative solutions like the API for Carbon Neutral Deliveries and Products, which allows e-commerce and logistics companies to offer carbon-neutral options to their customers by calculating and offsetting emissions associated with last-mile deliveries or their products.

Olive Gaea’s entry into India comes when companies increasingly prioritize sustainability, with a growing recognition of the financial and reputational benefits of adopting decarbonization strategies. According to a recent global survey, 81% of executives believe that sustainability investments contribute to revenue growth, and 91% report that such efforts help reduce business risks.