The London-based global carbon ratings agency BeZero Carbon today announced a €31 million Series C investment round to expand its ratings coverage for new markets and continue investing in AI techniques.
The round is led by GenZero, a decarbonisation-focused global investment firm headquartered in Singapore, with additional investment from Japan Airlines and Translink Innovation Fund. Existing investors EDF Pulse Ventures, Hitachi Ventures, Illuminate Financial, Intercontinental Exchange (ICE), Molten Ventures, Qima, and Quantum Innovation Fund also committed fresh capital.
Tommy Ricketts, CEO and co-founder of BeZero Carbon, said: “Securing a Series C in the current climate is a huge vote of confidence in our brilliant team and independent carbon ratings. We wouldn’t be where we are today without the support of our fantastic customers who now more than ever rely on our ratings. The funds will allow us to sustain our pace of innovation and expand our ratings coverage to compliance carbon markets, such as Article 6 and CORSIA, and the voluntary carbon market.”
Co-founded in 2020 by Sebastien Cross and Tommy Ricketts, BeZero Carbon is a carbon ratings agency with subsidiaries in New York and Singapore. Its ratings and risk products aim to equip world-leading organisations with the knowledge, tools and confidence to make better climate decisions.
BeZero has customers in over 30 countries across six continents, with ratings available on more than 40 platforms including Bloomberg. The BeZero Carbon Markets platform, which enables users to access ratings, data, and scientific analysis for over 480 carbon credit projects, has more than 100 corporate subscribers globally, including UBS, Sumitomo, Emirates NDB, Equinor, Woodside Energy, and ERM
According to BeZero, when they first launched its ratings platform in 2022 there was no correlation between the climate impact of a carbon project and the price of a carbon credit. Now, in 2025, every incremental BeZero Carbon Rating notch on BeZero’s 8-point rating scale commands an average 40% price premium.
Sebastien Cross, Chief Innovation Officer and co-founder of BeZero Carbon, said: “We are immensely grateful to our investors, clients, and partners who have joined us on our journey to date. Our ratings are quickly becoming a key part of global carbon market infrastructure and their use continues to grow as market participants seek solutions to bolster integrity. I’m extremely proud of the role they are playing in shaping the market as it matures. Singapore is a world leader in innovating and nurturing carbon markets. I’m excited to be based here over the next few months to cement our presence here and in the broader region.”
BeZero will be investing the new funds in expanding its ratings coverage for new markets, which together will help channel finance into the climate projects necessary for a sustainable future.
In addition, BeZero will continue investing in automation, including the application of AI techniques, and its team of climate and data scientists to deliver ratings, data, and risk analytics at scale.
Frederick Teo, CEO of GenZero, commented: “Carbon ratings play a pivotal role in ensuring integrity and transparency in carbon markets by providing independent, standardised assessments of quality. By leveraging data, internal scientific expertise and methodological insights to analyse carbon projects, BeZero’s work will foster greater confidence in carbon markets, and catalyse more capital and demand. We welcome BeZero’s presence in Singapore as we develop a global carbon ecosystem here and are excited to work together to build the critical infrastructure required for carbon markets to have impact at scale.”
Takao Suzuki, Executive Officer, Senior Vice President – Innovation at Japan Airlines, added: “We are actively implementing a range of emission reduction strategies, including upgrading to fuel-efficient aircraft, utilising Sustainable Aviation Fuel (SAF), participating in carbon credit trading, and adopting innovative technologies that contribute to society-wide CO2 reduction. We believe BeZero’s carbon ratings enhance the transparency and reliability of the carbon market, attracting greater capital and broader participation while playing a pivotal role in the CORSIA market. Through our collaboration with BeZero, we aim to foster the development of a robust carbon ecosystem and accelerate our progress toward achieving net-zero CO2 emissions.”
Read the orginal article: https://www.eu-startups.com/2025/01/bezero-carbon-raises-e31-million-to-enable-carbon-markets-through-ratings/
