North East financial tech group Sage has acquired a Bristol carbon accounting company in an undisclosed deal.
The Cobalt based business has swooped for Spherics in a deal which it says reinforces its commitment to sustainability. Spherics helps businesses understand and reduce their environmental impact, through a solution that automates the process of calculating emissions, taking data from its accounting software and creating initial estimates of their carbon footprint.
The software helps customers to refine estimates by submitting further data for a more accurate calculation, helping SME clients on their way to net zero. Amaya Souarez, EVP cloud operations, Sage, said: “We know that SMBs care about the impact they have on the environment, and our research shows that they want to work with suppliers and partners that can help them understand and address it.
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“The acquisition of Spherics represents an important milestone in our sustainability strategy. By combining Spherics’ innovative software with Sage’s digital network, we are connecting businesses with their customer and supplier emissions data, enabling easy and collaborative climate action across value chains which helps to reduce carbon.”
Spherics will continue to be available as a market solution integrating with Sage and other accounting software providers in the UK.
George Sandilands, CEO and co-founder of Spherics said: “Our vision and mission align very much with Sage’s core values, and we are excited to embark on this new journey to help SMBs knock down barriers to a more sustainable future. Global emissions are still rising fast, and we need immediate and meaningful climate action across the world.
“Together with Sage we can help make a global impact on greenhouse gas emissions by supporting SMBs on their journey to net zero.”
Mickey North Rizza, group vice president, enterprise software, IDC (International Data Corporation), added: “A company’s ability to integrate sustainability metrics into its growth strategy and to demonstrate its sustainability credentials transparently is becoming a strong differentiator globally.
“We see companies moving towards more integrated, outcome-driven ways of incorporating sustainability into every step of the business life cycle, and our studies show that organisations are investing in many application areas directly related to sustainability and ESG initiatives.”
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