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StepChange is a climate-tech SaaS platform that assists companies in measuring, mitigating, and reporting their carbon emissions and climate risks. Founded in 2022 by Ankit Jain and Dr. Sidhant Pai, the platform offers a comprehensive suite of tools designed to support enterprises and financial institutions in their sustainability efforts. citeturn0search7
Key Solutions Offered by StepChange:
- ESG Management Software:
- Operational Sustainability: Calculates environmental impacts, including Scope 1, 2, and 3 carbon emissions, using advanced methods compliant with global standards.
- Science-Based Target Setting: Assists companies in setting sustainability targets aligned with frameworks like the Science Based Targets initiative (SBTi).
- Performance Tracking: Enables benchmarking of metrics, progress tracking, and performance improvement.
- Financed Emissions & Portfolio Risk Management:
- Emissions Calculation: Utilizes proprietary approaches to calculate financed emissions across various asset classes and sectors, adhering to frameworks such as the Greenhouse Gas (GHG) Protocol and the Partnership for Carbon Accounting Financials (PCAF).
- Sustainable Investment: Provides insights for informed decision-making to enhance portfolio performance.
- Climate Risk Assessment: Evaluates and manages both transition and physical climate risks within investment portfolios.
- NetZero Navigator:
- A suite of tools featuring modules like Financed Emissions, Climate Risk, and ESG Scorecard, empowering financial institutions to navigate the transition to a net-zero economy with confidence. citeturn0search3
StepChange’s solutions are built on credible, peer-reviewed science and international standards, ensuring that companies can make informed decisions to decarbonize their operations and effectively manage climate-related risks. citeturn0search2
Yes! StepChange has expanded its offerings to provide a comprehensive suite of products that help businesses reduce carbon emissions, manage ESG compliance, and track supply chain-related carbon footprints.
🔹 Key Solutions by StepChange
1️⃣ Carbon Reduction & ESG Compliance
✅ Carbon Accounting & Reduction – Tracks Scope 1, 2, and 3 emissions, helping companies measure, report, and cut down their carbon footprint.
✅ ESG Compliance Management – Ensures businesses stay aligned with global sustainability frameworks like TCFD, CDP, SBTi, and PCAF.
✅ Sustainable Supply Chain Solutions – Monitors the carbon footprint of entire supply chains, enabling businesses to work with low-emission suppliers.
2️⃣ Financial Sector Solutions
StepChange has dedicated tools for banks, private equity firms, and other financial institutions to assess and manage the climate impact of their investments and loans.
✅ Financed Emissions Tracking – Helps financial firms measure and report emissions linked to their lending and investment portfolios.
✅ Climate Risk Modelling – Evaluates physical and transition risks associated with investments, ensuring better risk management.
✅ Net-Zero Roadmap for Investors – Offers insights to align financial portfolios with net-zero goals.
By combining data-driven insights, automation, and science-based methodologies, StepChange is making it easier for businesses and financial institutions to decarbonize operations and make climate-conscious decisions.
Would you like more details on any specific solution? 🚀
COMPANY PROFILE
Here’s a company profile for StepChange based on the latest available information:
StepChange: Company Profile
📌 Company Name: StepChange
📅 Founded: 2022
🌍 Headquarters: India
🏢 Industry: Climate Tech, ESG Compliance, Sustainability
📖 About StepChange
StepChange is a climate-tech SaaS platform that helps companies and financial institutions measure, manage, and reduce carbon emissions while ensuring compliance with ESG (Environmental, Social, and Governance) regulations. The company provides tools for businesses to track their carbon footprint, model climate risks, and align with global sustainability goals.
🔹 Key Offerings
1️⃣ Carbon Accounting & ESG Compliance
- Tracks Scope 1, 2, and 3 emissions to help businesses decarbonize.
- Ensures compliance with frameworks like SBTi, TCFD, CDP, and PCAF.
- Helps companies manage ESG reporting effectively.
2️⃣ Supply Chain Carbon Tracking
- Monitors carbon emissions across the entire supply chain.
- Helps businesses engage suppliers in sustainability efforts.
3️⃣ Financial Sector Solutions
- Enables banks, private equity firms, and investors to track financed emissions.
- Provides climate risk assessment tools to manage physical and transition risks.
- Supports financial institutions in aligning with net-zero commitments.
🌍 Mission & Vision
Mission: To empower businesses and financial institutions with science-based, data-driven solutions to decarbonize and mitigate climate risks.
Vision: A world where companies and investors can seamlessly transition to a low-carbon, sustainable future.
🚀 Why StepChange?
✔ Science-backed methodology for accurate carbon tracking.
✔ Automation & AI-driven insights for faster decision-making.
✔ Compliance-ready solutions that align with international sustainability standards.
✔ Industry-wide applications, from corporations to financial institutions.
📢 Website & Contact
🔗 Website: StepChange.earth
📩 Contact Email: (Check website for official contact details)
Would you like me to tailor this profile for a specific purpose (e.g., investor pitch, business partnership, or job applicants)? 😊
FOUNDERS
StepChange was co-founded by Ankit Jain and Dr. Sidhant Pai, both alumni of the Massachusetts Institute of Technology (MIT). citeturn0search9
Ankit Jain serves as the Co-Founder and CEO of StepChange. He holds a bachelor’s degree in Computer Science from IIT Bombay and an MBA from MIT Sloan. Prior to StepChange, Ankit was a business head and board member at Ola Electric Mobility, a leading electric vehicle company in India. citeturn0search9
Dr. Sidhant Pai is the Co-Founder and Chief Science Officer (CSO) at StepChange. He earned his PhD in Atmospheric Chemistry and Compositional Modeling, as well as an SB in Environmental Engineering from MIT. Dr. Pai has over a decade of experience working at the intersection of science, technology, and environmental solutions, including roles as a postdoctoral scientist at the Columbia Climate School and as a founding director at the Indian non-profit Social Seva. citeturn0search9
Together, Ankit and Sidhant lead StepChange in providing integrated solutions for large enterprises and financial institutions to track, improve, and report on various ESG performance indicators, with a strong emphasis on carbon accounting and climate risk management. citeturn0search9
StepChange has been actively working across multiple industries to help businesses with ESG compliance and supply chain carbon tracking. According to Ankit Jain, the company has collaborated with various sectors, including:
✅ Automotive – Helping car manufacturers and suppliers track carbon emissions across the value chain.
✅ Real Estate – Assisting real estate firms in measuring building emissions and achieving sustainability goals.
✅ Agriculture – Supporting agribusinesses in tracking farm-to-market emissions and promoting sustainable farming practices.
✅ FMCG (Fast-Moving Consumer Goods) – Helping brands reduce emissions in product sourcing, manufacturing, and logistics.
✅ Electronics Manufacturing – Enabling tech and electronics companies to monitor supply chain sustainability and ESG compliance.
By offering automated tracking, data-driven insights, and ESG reporting tools, StepChange is empowering these industries to transition toward sustainable and climate-conscious operations. Would you like a deeper dive into how StepChange works with a specific sector? 🚀
For large services companies, decarbonization efforts primarily focus on real estate assets, as these businesses often have large office spaces, data centers, and operational facilities that contribute significantly to their carbon footprint.
COMMERCIALSAATION JOURNEY
StepChange’s Commercialization Journey 🚀
StepChange has rapidly evolved from a climate tech startup into a leading provider of carbon tracking, ESG compliance, and sustainability solutions for enterprises and financial institutions. Here’s a look at its commercialization journey:
🔹 Early Days & Market Positioning (Founding – Initial Growth)
✅ Identified a Market Gap – Recognized that businesses struggle with measuring Scope 3 emissions and complying with ESG regulations.
✅ Built a Science-Backed Platform – Developed data-driven tools for accurate carbon accounting, ESG reporting, and climate risk assessment.
✅ Targeted High-Impact Sectors – Focused on industries with significant carbon footprints, including automotive, real estate, FMCG, finance, and manufacturing.
🔹 Scaling Up: Industry Adoption & Financial Backing
✅ Secured $5M in Funding – Raised capital from investors like BEENEXT, Global Founders Capital, Flourish Ventures, and others.
✅ Partnered with Large Enterprises – Expanded adoption among corporates, banks, and PE investors to integrate carbon accounting into their operations.
✅ Measured 600M Tons of CO₂e – Established credibility by tracking emissions 20% higher than the UK’s total carbon footprint.
🔹 Current Commercialization Strategy & Expansion
✅ Deep Focus on Financial Institutions – Helping banks & private equity firms integrate sustainability into lending & investment decisions.
✅ Advanced Scope 3 Tracking – Positioned as a leader in supply chain emissions reporting, addressing a critical pain point for enterprises.
✅ Regulatory Compliance Tools – Helping businesses comply with TCFD, PCAF, EU SFDR, and other ESG reporting frameworks.
✅ Geographical Expansion – Scaling operations beyond India to key global markets in Europe, the US, and Southeast Asia.
CUSTOMERS INCLUDES
StepChange, formerly known as the Consumer Credit Counselling Service, is a UK-based debt charity that provides free debt advice and support to individuals facing financial challenges. citeturn0search12 The organization serves individuals across the United Kingdom, offering services such as debt advice, money management assistance, and support through its telephone helpline and online tools. citeturn0search1 In 2022, over 500,000 people contacted the charity for help. citeturn0search12
StepChange collaborates with various companies, including banks and other creditors, to assist their customers who are dealing with debt problems. These partnerships enable creditors to refer their customers to StepChange for specialized debt advice and support. citeturn0search0 However, specific details about these partner organizations are not publicly disclosed.
🔹 The Road Ahead 🌍
📌 New Product Innovations – Expanding AI-driven insights for automated carbon tracking and risk modeling.
📌 Wider Industry Adoption – Targeting more sectors & companies struggling with ESG compliance.
📌 Net-Zero Roadmaps – Helping enterprises & financial institutions build long-term decarbonization strategies.
Would you like insights into StepChange’s specific revenue model or customer case studies? 🚀
🔹 How StepChange Helps Services Companies Decarbonize Real Estate Assets
✅ Energy Efficiency & Carbon Tracking
- Measures Scope 1 & 2 emissions from office buildings, HVAC systems, and energy consumption.
- Provides data-driven insights on reducing electricity use and transitioning to renewable energy sources.
✅ Green Building Standards & Compliance
- Helps companies align with LEED, BREEAM, and other sustainable building certifications.
- Tracks and reports on ESG metrics related to real estate sustainability.
✅ Operational Sustainability
- Identifies ways to reduce emissions from commuting, business travel, and office utilities.
- Implements AI-driven recommendations for lowering carbon footprints across office operations.
✅ Supply Chain & Vendor ESG Compliance
- Encourages green procurement by ensuring that vendors and facility management services follow sustainability guidelines.
- Tracks indirect emissions (Scope 3) from building maintenance, IT infrastructure, and logistics.
🏢 Why Real Estate Decarbonization Matters for Service Companies?
🔹 Reduces long-term operational costs through energy efficiency.
🔹 Improves ESG scores and compliance with sustainability regulations.
🔹 Enhances corporate reputation by showcasing environmental responsibility.
🔹 Prepares for net-zero commitments and upcoming carbon disclosure requirements.
Would you like a case study or real-world example of how a company is doing this with StepChange? 🚀
INVESTOR INCLUDES
StepChange, a corporate sustainability platform, has secured a total of $5 million in funding across two seed rounds, attracting investment from a diverse group of 14 investors. citeturn0search1
Key Investors:
- BEENEXT: A Singapore-based venture capital firm that led StepChange’s seed round in May 2023. citeturn0search3
- Global Founders Capital: A global venture capital firm that co-led the May 2023 seed round. citeturn0search3
- Flourish Ventures: A venture firm based in Redwood City, USA, which invested in StepChange’s seed round in December 2023. citeturn0search1
- Genesia Ventures: A Tokyo-based venture capital firm participating in the May 2023 seed round. citeturn0search3
- Whiteboard Capital: An early-stage venture capital firm that invested in the May 2023 seed round. citeturn0search3
- Saison Capital: A Singapore-based venture capital firm involved in the May 2023 seed round. citeturn0search3
- Seedstars: A global investment firm that participated in the May 2023 seed round. citeturn0search3
- Antler: A global early-stage venture capital firm investing in the May 2023 seed round. citeturn0search3
- Speciale Invest: An India-based venture capital firm that took part in the May 2023 seed round. citeturn0search3
- Ritual Capital: An investor in StepChange, as noted in funding records. citeturn0search6
- Maninder Gulati: An angel investor associated with StepChange. citeturn0search1
StepChange plays a crucial role in helping financial institutions increase their share of green lending, addressing the portfolio sustainability aspect of banking and investment operations.
🔹 How StepChange Supports Green Lending
✅ Financed Emissions Tracking
- Enables banks and financial institutions to measure the carbon footprint of their loan and investment portfolios (Scope 3, Category 15 emissions).
- Helps financial firms assess and report on financed emissions under frameworks like PCAF (Partnership for Carbon Accounting Financials).
✅ Sustainability-Linked Lending
- Provides data-driven insights to encourage green financing and sustainability-linked loans.
- Helps banks identify low-carbon and eco-friendly projects for preferential lending.
✅ Climate Risk Modelling for Investments
- Assists private equity firms, venture capitalists, and asset managers in assessing climate-related financial risks.
- Uses transition risk and physical risk modeling to evaluate the resilience of investment portfolios.
✅ Regulatory & ESG Compliance
- Ensures alignment with net-zero commitments, sustainable finance taxonomies, and climate disclosure frameworks (TCFD, EU SFDR, etc.).
- Helps financial firms comply with green banking regulations set by central banks and global financial authorities.
By empowering financial institutions with real-time sustainability data, StepChange helps banks and investors make informed, climate-conscious lending decisions—driving the shift toward a greener financial ecosystem.
Would you like specific case studies on how banks are implementing this? 🚀
StepChange’s Leadership in Scope 3 Emissions Tracking
StepChange takes pride in its expertise in Scope 3 emissions, which typically make up the largest share of a company’s carbon footprint. According to Ankit Jain, the platform has already measured 600 million tons of CO2e (carbon dioxide equivalent)—a staggering figure that’s 20% higher than the total CO2e emissions of the UK.
🔹 Why Scope 3 Emissions Matter?
🔸 Scope 1 – Direct emissions from owned operations (e.g., company vehicles, manufacturing plants).
🔸 Scope 2 – Indirect emissions from purchased electricity, heating, and cooling.
🔸 Scope 3 – Indirect emissions from a company’s entire value chain, including:
- Upstream emissions (e.g., supply chain, raw material extraction, business travel).
- Downstream emissions (e.g., product use, disposal, financed emissions).
🔹 How StepChange Helps Companies Track & Reduce Scope 3 Emissions?
✅ Comprehensive Supply Chain Carbon Tracking – Monitors emissions from suppliers, logistics, and procurement.
✅ Financed Emissions Management – Enables banks and investors to track emissions tied to loans and investments.
✅ Product Lifecycle Emissions – Helps brands assess end-to-end carbon impact of products.
✅ AI-Driven Recommendations – Provides data-backed strategies for reducing Scope 3 emissions.
By focusing on deep, science-based methodologies, StepChange empowers businesses to accurately measure, report, and take action on Scope 3 emissions—helping them achieve net-zero goals faster.
Would you like insights on a specific industry’s Scope 3 challenges? 🚀
StepChange’s Leadership in Scope 3 Emissions Tracking
StepChange takes pride in its expertise in Scope 3 emissions, which typically make up the largest share of a company’s carbon footprint. According to Ankit Jain, the platform has already measured 600 million tons of CO2e (carbon dioxide equivalent)—a staggering figure that’s 20% higher than the total CO2e emissions of the UK.
🔹 Why Scope 3 Emissions Matter?
🔸 Scope 1 – Direct emissions from owned operations (e.g., company vehicles, manufacturing plants).
🔸 Scope 2 – Indirect emissions from purchased electricity, heating, and cooling.
🔸 Scope 3 – Indirect emissions from a company’s entire value chain, including:
- Upstream emissions (e.g., supply chain, raw material extraction, business travel).
- Downstream emissions (e.g., product use, disposal, financed emissions).
🔹 How StepChange Helps Companies Track & Reduce Scope 3 Emissions?
✅ Comprehensive Supply Chain Carbon Tracking – Monitors emissions from suppliers, logistics, and procurement.
✅ Financed Emissions Management – Enables banks and investors to track emissions tied to loans and investments.
✅ Product Lifecycle Emissions – Helps brands assess end-to-end carbon impact of products.
✅ AI-Driven Recommendations – Provides data-backed strategies for reducing Scope 3 emissions.
By focusing on deep, science-based methodologies, StepChange empowers businesses to accurately measure, report, and take action on Scope 3 emissions—helping them achieve net-zero goals faster.
Would you like insights on a specific industry’s Scope 3 challenges? 🚀
Also read: Updapt is changing the ESG game for enterprises
Updapt is an ESG (Environmental, Social, and Governance) technology company offering comprehensive SaaS solutions to assist enterprises and investment funds in managing their sustainability initiatives. citeturn0search2 The platform enables organizations to digitize the entire ESG data lifecycle, ensuring alignment with global sustainability standards such as GRI, SASB, CSRD, ESRS, BRSR, TCFD, CDP, and DJSI. citeturn0search9
Key Features of Updapt’s Platform:
- ESG Data Management: Streamlines the collection, tracking, and analysis of ESG metrics across multiple sites and business units. citeturn0search1
- Carbon Footprint Accounting: Calculates greenhouse gas emissions, including Scope 1, 2, and 3 emissions, facilitating organizations in their decarbonization efforts. citeturn0search5
- ESG Reporting and Analytics: Offers in-depth analytics and reporting tools to monitor sustainability performance and comply with regulatory requirements. citeturn0search1
- Enterprise Risk Management: Identifies, manages, and monitors risks associated with ESG factors, enhancing overall enterprise risk management. citeturn0search1
Established in 2019, Updapt has grown to a team of over 45 employees, serving medium to large-sized private and publicly listed clients across various industries and geographies. citeturn0search6 The company’s digital solutions empower businesses in their decarbonization journey and enhance sustainability performance through various ESG modules, including self-assessment, data management, reporting, supply chain management, net-zero initiatives, and risk management. citeturn0search4
By providing these tools, Updapt is effectively changing the ESG landscape for enterprises, enabling them to integrate sustainability into their core operations and decision-making processes.
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