Revolutionizing Sustainability Solutions: A Closer Look at KarbonWise’s Unique Approach
CXOToday has engaged in an exclusive interview with Arjun Vijayaragavan, Founder of KarbonWise.
- Can you share the inspiration behind founding Karbonwise and how the journey has been so far?
The inspiration behind founding KarbonWise was a culmination of experiences gained over a decade of closely working with clients on their sustainability journey as a consultant. Throughout this time, it became evident that there was a critical need for a technology platform that could accelerate data aggregation, analysis, and insight generation to aid enterprises in their sustainability efforts. The idea of KarbonWise as a co-pilot, providing invaluable support to businesses on their sustainability journey, began to take shape. With a clear vision and understanding of the market’s needs, I decided to take the leap and founded KarbonWise in 2023.
Since its inception, KarbonWise has made significant strides, expanding into four markets – the UK, India, UAE, and Saudi Arabia. Currently, we are actively engaged with more than ten clients, with a robust pipeline that promises further growth. The journey so far has been both exciting and challenging, but we are driven by our commitment to making a meaningful impact on sustainability and look forward to continued growth and success.
- What sets Karbonwise apart from other sustainability platforms, particularly in terms of its approach and solutions?
What sets Karbonwise apart from other sustainability platforms is our unique approach and tailored solutions. We don’t believe we are a SaaS business – we are an OaaS (‘Outcome as a Service’) business – Our method involves deep collaboration with clients, from structuring their data to generating insights and action plans. We prioritize customer success, with technology acting as an enabler. In essence, we see ourselves as co-pilots, providing both technology and expertise to guide organizations on their sustainability journey.
Moreover, we also offer sector-specific solutions tailored for industries like construction, pharma, and chemicals (instead of being broad based). This sector-focused approach allows us to address industry-specific challenges effectively. Additionally, our strong emphasis on Scope 3 and supply chain emissions sets us apart. We recognize that measuring emissions in these areas is crucial for most enterprises, and we offer specialized solutions to help them tackle these challenges head-on.
- Which industries play the major role in the carbon emissions of India.? Could you elaborate on Karbonwise’s plans for India and its role in contributing to the country’s net zero target by 2070?
The big emitters in India are the Power sector (30-35%) – this includes coal, oil & gas generation. Then come the big industrial emitters – (25-30%) – these are the Iron&Steel producers, Cement manufacturers, Mining & Refining operations among others. Agriculture is ~20%, Transport ~10%, Buildings, Water & waste management another ~10%
KarbonWise recognizes the importance of addressing emissions across various sectors to contribute to India’s net zero target by 2070. To achieve this goal, KarbonWise aims to provide comprehensive support to enterprises. By offering the most current and accurate climate data, the right tools for carbon and ESG metric management, and decision support tools to identify reduction opportunities, KarbonWise empowers businesses to make informed decisions in their sustainability efforts. Additionally, workflows for automating dashboards and sustainability reporting streamline the process, ensuring compliance with global ESG standards.
Through these initiatives, KarbonWise seeks to assist industries in understanding their carbon footprint, developing effective strategies for reduction, and implementing sustainable practices. By collaborating with enterprises and providing tailored solutions, KarbonWise aims to play a pivotal role in driving India towards its net zero target by 2070.
- Could you shed some light on Karbonwise’s market expansion plans and strategies for future growth?
In terms of investment, our focus is both on the driving growth and enhancing our product. We continue to scale up our inbound and outbound sales efforts. On the product side, we are focussed on two specific areas at the moment – to expand our ESG reporting capabilities to ensure comprehensive coverage of various guidelines. Additionally, we’re dedicated to expanding our Generative AI-based intelligence layer, to provide more intelligent and proactive insights to our clients
- How does Karbonwise ensure that its solutions are accessible and beneficial for businesses of all sizes, including smaller enterprises?
Our primary focus sectors are mid-market and above, and our operating model combines technology but also deep expertise to ensure the impact and outcomes are delivered. However, given our simple interface and highly modular platform we are able to serve smaller enterprises where the impact can be meaningful (though this is not our immediate priority)
- What do you see as the future of sustainability in the corporate world, and how do you envision Karbonwise evolving to meet those challenges and opportunities?
As sustainability becomes increasingly central to corporate agendas, I see a future where businesses prioritize environmental and social responsibility as integral components of their operations. This shift will be driven by various factors, including regulatory pressures, consumer demand for ethical products and practices, and the need to mitigate climate change and other global challenges. We also think Sustainability leaders will ‘play offense’ by offering low carbon solutions, and not just ‘play defense’ and focus on compliance
We believe KarbonWise has the right blend of technology and expertise to help enterprises on this journey. We will continue to evolve this by adding more intelligence leveraging Gen AI advancements to truly evolve into a full-fledged ‘Sustainability Co-pilot’
- How does Karbonwise keep up with the latest developments and innovations in the sustainability field to continuously improve its offerings and stay ahead of the curve?
We maintain close collaboration with key policymakers and reporting bodies, ensuring compliance with global ESG standards. This proactive approach allows us to anticipate and adapt to forthcoming guideline changes, keeping our solutions up-to-date and aligned with regulatory requirements. Additionally, our team includes deep experts who have been working in the sustainability space for over a decade, providing us with valuable insights and pattern recognition to interpret policies and translate them into actionable strategies.
