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Konfidens

Getting sustainability in place early

 

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Case Study

The mental health care solution provider decreases its ecological footprint and introduces ESG measures to showcase their commitment to positive change.

This case study serves as an inspiration for other startups aiming to navigate the complexities of ESG and carbon accounting, illustrating that through informed decision-making and collaborative efforts, businesses can significantly contribute to global sustainability efforts.

 

The Story

As part of their pre-seed funding round, Konfidens AS, steered by Aleksander Erichsen, embarked on a mission to integrate effective carbon accounting, offsetting projects and ESG clauses into their operations. The challenges were:

  • Integration of Carbon Accounting: Konfidens sought to incorporate carbon accounting into their business operations in a cost-effective and manageable manner.

  • Selection of Offsetting Projects and Tools: Identifying reliable and impactful carbon offset projects and tools for accurate carbon footprint calculation posed a significant challenge.

  • Adapting ESG Strategies: Adapting corporate policies to include flexible, yet impactful, ESG clauses without compromising on the potential for future adjustments.


Founded in 2020, Konfidens offers a complete SAAS solution for mental healthcare professionals. It equips them with a user-friendly platform packed with all the essential tools they need to run a highly efficient therapy practice.

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The Goal

Measure and reduce carbon emissions and get a handle on Konfidens' environmental impact.

 

We are now measuring our environmental impact thanks to Johannes, and we are off-setting the emissions we have based on actual numbers from our accounting system. This gives much more clarity into our operations and footprint. Also, getting a system in place from an early stage, when our internal processes are still in the making and the numbers and operation is still not overly complex, makes it much easier to internalise ESG reporting as a core activity for the company as we're growing.

Aleksander Erichsen

CEO, Konfidens

 

The Solution

  • Carbon Footprint Calculation: Konfidens' use of the SME Climate Hub's calculator demonstrated the importance of accessible tools for assessing carbon emissions, highlighting a crucial step in identifying the scale of carbon reduction required. Although fully-fledged SaaS options were evaluated, they may offer increased value during a more advanced phase of company growth.

  • Evaluation of Offset Projects: Fiegenbaum Solutions emphasized the importance of choosing carbon offset projects carefully. With a focus on projects verified by reputable organizations, they considered various options, including those supported by Konfidens' previously used tool, which does not require a license fee, offering a straightforward entry point into carbon offsetting.

  • Setting up ESG Policy: The consultation on an ESG clause led to a balanced and adaptable approach. These clauses not only reflect a commitment to sustainable and ethical operations but also align with the growing expectations of investors, customers, and regulatory bodies.

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The Results

  • Informed Selection of Offset Projects: The collaborative evaluation process enabled both companies to make informed decisions regarding carbon offset projects, ensuring alignment with their sustainability goals.

  • Enhanced ESG Framework: The revised ESG clause, promoting flexibility in project selection, laid the groundwork for a dynamic approach to carbon offsetting within their corporate strategies.

  • Knowledge Sharing and Empowerment: Sharing resources and insights, including footprint calculators and information on verified offset projects, empowered both entities to pursue their carbon neutrality objectives more effectively.

Solutions used

Corporate Carbon Footprint

With the help of the simple to use SME Climate Hub's calculator, an online tool designed to help businesses estimate their carbon emissions based on operational data, Konfidens was able to establish a baseline understanding of Konfidens AS's carbon footprint, providing a quantitative foundation for subsequent reduction and offsetting decisions.

Carbon Credits

The consultation underscored the importance of selecting carbon offset projects that are verified by reputable organizations, goind beyond the off-the-shelf labels such as the Gold Standard and Verra. This criterion was crucial to ensure that Konfidens' investments would contribute to legitimate and impactful environmental initiatives. Konfidens was happy to make a deliberate move towards credible offset solutions.

ESG clause

Konfidens was happy to include an ESG (Environmental, Social, Governance) clause, to reflect a strategic approach to decision-making on these terms.
For startups, including an ESG clause in their term sheets is not just about adhering to current trends; it's a strategic move that can influence their financial health, market position, and resilience against future challenges. As the business landscape evolves, startups that integrate ESG principles from their inception position themselves for sustainable growth and success.

Get in touch

Let's talk about your sustainability roadmap!