RELEASE (1st December 2023) Dubai, UAE – Amid the dynamic discussions and initiatives at COP28, Olive Gaea, a pioneering force in climate-tech, has successfully unveiled its revolutionary ‘Zero’ Carbon Management and Accounting Platform. The platform, officially launched at the Alif Pavilion on December 6, marks a pivotal moment for Olive Gaea, underlining the crucial role of startups in addressing global emissions challenges.
As Jessica Scopacasa, Co-Founder & CMO of Olive Gaea, emphasised during a roundtable discussion, “beyond regulatory frameworks, it’s vital for climate-tech startups to grow and scale by establishing partnerships with larger enterprises, enabling them to scale and become more attractive to investors. The UAE, particularly in the seed space, provides an excellent platform for startups. However, further regulatory updates on carbon footprint disclosure/management and collaboration with larger organisations are key to scale and commercial success.”
Vivek Tripathi, Founder and CEO of Olive Gaea shared his visionary insights during a distinguished panel discussion, “Pioneering Climate Tech: Investing, Scaling, and Growing Net Zero Solutions,” organised by PwC and Microsoft. Vivek underscored the profound impact of artificial intelligence and data science in tackling the multifaceted challenges of climate change. He eloquently stated, “From machine learning to predictive data models, we are witnessing a technological revolution in climate solutions. AI is poised to play a pivotal role, with expectations to map and reduce 10% of global emissions, equivalent to an impressive 5.5 billion tons of greenhouse gases.” Speaking specifically about Olive Gaea’s innovative ‘Zero’ platform, Vivek emphasised how the company leverages big data analytics and AI to scientifically map carbon emissions, project future emissions, and optimise decarbonization strategies for its clients. As COP28 unfolds, Vivek’s expectations extend beyond the global stock-take and loss and damage funds; he envisions “for us, the expectation from COP28 is to have an engagement mechanism for MSMEs, that contribute to ~50% of total business emissions globally, to participate in this call for action in the form of emissions regulations.” This aligns seamlessly with Olive Gaea’s mission—to empower businesses on their journey to Net Zero targets, addressing global climate imperatives through technological innovation and inclusive engagement.
The global perspective on climate tech investments was discussed in a panel moderated by Stephen Anderson. Jon Blackman, specialising in energy and sustainability, highlighted the evolving landscape, stating, “Climate tech investment has been a wavering graph, but it’s maturing and attracting more opportunities. In the Middle East, projects like Future 50 are propelling innovation, with Saudi Arabia emerging as a significant investor in climate tech in 2023.”
Olive Gaea is proud to be one of the startups in the Future 50 report, which focuses on finding innovators building technology that reduces emissions and accelerates decarbonization in the Middle East. The report reveals some key challenges faced by startups, including funding limitations and the need for experienced talent.
During the roundtable sessions, participants delved into critical questions such as leveraging large-scale investment in sustainability to position the Middle East as a global leader in climate tech, encouraging local investment from Middle East investors, and building an ecosystem for local climate tech hubs. The discussions highlighted the interconnected challenges of food, energy, and water and stressed the importance of regulatory intervention and advocacy to create a level playing field and raise awareness. The emphasis on translating abstract concepts into a shared vision resonated across all sessions.
The successful launch of ‘Zero’ at COP28 cements Olive Gaea’s commitment to providing businesses with the tools needed for effective carbon accounting, decarbonization, and Net Zero goals. The platform, designed with on-the-ground experience and regional challenges in mind, embodies the spirit of innovation crucial for addressing the global climate crisis.
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About Olive Gaea
Olive Gaea is a leading Dubai-based Sustainability as a Service (SaaS) platform for carbon accounting, decarbonization, and Net Zero. Beyond bespoke consulting services spanning from GHG emissions’ accounting and reduction strategies to carbon offsetting and life cycle analysis, Olive Gaea provides cutting edge technology solutions to enable real and science-based climate action. Olive Gaea’s Carbon Management and Accounting Platform (CMAP) “Zero” alleviates all the challenges that businesses face, helping them to measure, reduce, offset, and report carbon footprint. Through technology and AI, Zero simplifies and streamlines data collection and analysis, carbon management, emissions projection, decarbonisation pathway mapping, carbon offsetting, and reporting as per global standards and framework. Olive Gaea also provides Carbon Neutral APIs solutions enabling e-commerce and logistics companies to offer carbon-neutral delivery options to their customers.
