Israeli companies and global giants join forces to “reach net zero carbon”
The mission was announced by The Movement by Good Company together with AB InBev, Continental, Ashtrom, Bridges Israel, SAP, KPMG, BCLP, and LeumiTech.
A group of Israeli companies led by The Movement by Good Company has joined forces with the mission to seek startups that are working towards achieving net zero carbon emissions. The Movement will select 10 startups who will have the opportunity to participate in Reaching Net Zero (RNZ) Action Day which will be held in December, hosted by SAP Labs in Raanana.
Companies taking part in the challenge include AB InBev, Continental, Ashtrom, Bridges Israel, SAP, KPMG, BCLP, and LeumiTech. The three primary areas that the Movement and its partners have identified as interests are Carbon Reduction, Circular Economy, and Energy. All partners would like to explore and collaborate with startups that operate in those areas and solve major problems.
The Mission’s partners are leading global corporations in their fields, such as Anheuser-Busch InBev, is the world’s largest brewer by both volume and revenue, operating more than 600 beer brands in 150 countries. its leading brands include Budweiser, Corona, Stella Artois, Beck’s, Hoegaarden, Leff, Franziskaner, and more.
AB InBev focuses its sustainability efforts in four key areas across its supply chain where it can leverage its scale and expertise to drive the most impact from ‘seed to sip’: sustainable agriculture, water stewardship, renewable electricity and carbon reduction, and circular packaging. In 2018, AB InBev set aggressive goals against these four key pillars. Since then, we have invested millions of dollars in innovative sustainability initiatives, and it is ahead of schedule including achieving its goal of brewing our products with 100% renewable electricity.
Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Continental has set itself ambitious goals for achieving carbon neutrality: By 2040, all of Continental’s production processes are to be made carbon-neutral. The aim is to continue reducing emissions of climate-damaging carbon dioxide so that as little as possible must be compensated for. In the long term, complete carbon neutrality across the entire value chain is to be achieved in close collaboration with suppliers and customers – and by 2050 at the latest. And Ashtrom renewable energy, the renewable energy arm of the Ashtrom Group, which views the energy field as one of the Group’s principal growth engines in the coming years.
The Movement’s partners identified three primary areas in which it holds shared interests. The selected focus areas of the Reaching Net Zero Mission are: Carbon Reduction, Circular Economy and Energy. All partners would like to explore and collaborate with startups that operate in those areas and solve major problems.
Early to Advanced stages startups (whether based in Israel or elsewhere) who are aiming to help companies reach net zero emissions are invited to submit their world-changing ideas.
The Mission’s top 10 selected companies will have the opportunity to participate in a Reaching Net Zero (RNZ) Action Day that will be held in Mid December, hosted by SAP Labs in Raanana.
During this day the startups will present their companies and pitch to a wide crowd of executives from multinational corporations, investors and industry experts. The founders of the companies will then participate in several roundtable discussions, each under a specific topic.
Until today, Good Company’s Movement ran and executed five different missions focused on different topics such as Agriculture, Supply Chains and Mobility together with global corporations and VCs from Israel and abroad. To date, Good Company and other VCs made five investments in the final companies participating in the missions. In addition participating corporations made dozens of commercial engagements with the participating companies.
“One of the world’s biggest challenges ever is reaching net-zero, but it’s also the largest ever opportunity for innovation,” explained Ido Fishler, Managing Partner, Good Company. “We believe in humanity’s ability to work together, facing a crisis and achieving the unimaginable. We are excited to work alongside great partners and seek our next investment opportunity. We plan to work tirelessly to assist our portfolio companies scale, and create solutions that will reshape the course of history.”
Transitioning to a net-zero world is seen by many as one of the greatest challenges. Around the world, governments, businesses, and institutions have pledged to achieve the goal, with a total of 70 countries and 1,400 publicly declaring their intentions.
“As investors, we have the obligation to direct resources to finance technological solutions that will support dealing with one of the most significant and challenging crises of humanity today”, added Gal Hayut, Managing Partner, Bridges Israel. “As an Impact VC, we are looking for those technologies that will make a profound and significant change and help entire industries and sectors meet their ambitious and necessary emission reduction goals. We are proud to join the Mission’s partners in this initiative, which was built to give climate entrepreneurs exposure to potential investors and partners with the aim of growing the companies, commercializing their technology, and contributing to the resolution of the climate crisis.”
Good Company is a mission-driven VC that invests in Israeli companies that are “solving the world’s biggest problems”. It focuses on Climatetech and Socialtech, Future of Energy, Agriculture, the Future of Work and Education, Circular Economy, Energy, and Digital Health. To date, Good Company’s Movement has executed five different missions that focus on topics such as agriculture, supply chains, and mobility.