Northzone Ventures Sustainability Profile
Northzone Ventures, often referred to simply as Northzone, is a prominent venture capital firm headquartered in Norway. Established in 1996, Northzone has made significant strides in the technology and digital sectors, focusing on early-stage investments across Europe and the United States. With a strong emphasis on innovative startups, Northzone has backed notable companies in various industries, including fintech, e-commerce, and software. Their unique approach combines deep industry expertise with a commitment to nurturing entrepreneurial talent, setting them apart in the competitive venture capital landscape. Over the years, Northzone has achieved a remarkable market position, recognised for its successful portfolio and strategic partnerships. The firm continues to play a pivotal role in shaping the future of technology-driven businesses, making it a key player in the venture capital arena.
DitchCarbon Score
How does Northzone Ventures's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Funds, trusts, and financial vehicles industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Northzone Ventures's score of 44 is higher than 72% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Northzone Ventures's reported carbon emissions
In 2023, Northzone Ventures reported total carbon emissions of approximately 154.0 million kg CO2e. This figure includes Scope 1 emissions of about 334,000 kg CO2e, Scope 2 emissions of approximately 55,000 kg CO2e, and a significant contribution from Scope 3 emissions, which totalled around 153.6 million kg CO2e. Comparatively, in 2022, the total emissions were about 205.4 million kg CO2e, with Scope 1 at approximately 172,000 kg CO2e, Scope 2 at around 46,000 kg CO2e, and Scope 3 emissions reaching about 205.2 million kg CO2e. This indicates a reduction in total emissions of about 51.4 million kg CO2e from 2022 to 2023. Northzone Ventures has committed to significant climate initiatives, including financing five projects under the climate mandate through Norfund, which are expected to avoid approximately 8.5 million tonnes CO2e emissions annually once operational. This commitment aligns with their near-term net-zero target across all scopes, aiming for substantial emissions reductions by 2026. The emissions data reported is not cascaded from any parent organization, indicating that Northzone Ventures independently tracks and reports its carbon footprint.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 260,000 | 000,000 | 000,000 |
| Scope 2 | 48,000 | 00,000 | 00,000 |
| Scope 3 | 188,077,000 | 000,000,000 | 000,000,000 |
How Carbon Intensive is Northzone Ventures's Industry?
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Northzone Ventures's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Northzone Ventures has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
