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March 15, 2024
SINAI
SINAI, a trailblazing enterprise software company that equips carbon-heavy industries with the tools to turn net zero ambitions into actionable decarbonization strategies, has successfully collaborated with Grupo Boticário, one of the largest manufacturers of cosmetics and personal care products in Brazil, to improve accounting of its scope 3 emissions and lay the groundwork for more cost-effective and science-based action on carbon. This successful collaboration has been followed by the announcement of a strategic investment in SINAI by Positive Ventures, a values-aligned investor based in São Paulo, and SINAI’s first investor in Brazil. The momentum has laid the groundwork for SINAI’s further expansion in Brazil in 2024.
SINAI’s collaboration with Grupo Boticário is a testament to forward-thinking climate tech and exemplifies an actionable path towards improving corporate sustainability. Before the digitization of its inventory, Grupo Boticário accounted for four scope 3 categories (indirect emissions from its value chain), which represented 67% of its total emissions. With SINAI's expertise, the company conducted a thorough assessment of its emissions, particularly in scope 3, which often goes under reported. This deep dive into its environmental impact revealed that over 97% of Grupo Boticário's emissions fell within scope 3 categories, far exceeding the threshold set by the Science Based Targets initiative (SBTi, an organization guiding companies in setting science-based emissions reduction targets) that necessitates a dedicated reduction plan.
In the quest for a comprehensive GHG inventory (a detailed record of a company's greenhouse gas emissions), Grupo Boticário leveraged SINAI's software to not only identify and calculate emissions across its operation but also unify various departmental efforts for a cohesive strategy. This collaborative approach resulted in a verified inventory that now serves as the bedrock for Grupo Boticário's ambitious decarbonization targets.
To support Grupo Boticário's decarbonization journey, SINAI developed an improvement plan for scope 3, transitioning from expense-based methodologies to mass data calculations. The improved scope 3 inventory, a direct result of SINAI's digital tools, marked a significant leap from accounting for 67% to 97% of the company's total emissions.
With the data collected, in the coming years, Grupo Boticário will be able to reduce emissions in its value chain effectively. Grupo Boticário’s partnership with SINAI is slated to continue shaping the company's decarbonization strategy, utilizing the platform's scenario analysis to prioritize cost-effective and science-based actions. This collaborative venture underscores Grupo Boticário's position as a sustainability leader and illustrates the transformative power of technology in addressing climate change.
In a world where extreme climate events are becoming the norm, the race towards decarbonization is not just urgent – it's a necessity for survival. Stepping up to this challenge, Positive Ventures, an early-stage impact investing venture capital firm, has also announced a strategic investment in SINAI, marking the company’s first investment from Brazil. With the investment, SINAI plans to expand its presence in the country in 2024.
"SINAI’s vision is to accelerate the work needed to be done by all organizations towards a low-carbon planet through the power of technology,” said Maria Fujihara, Founder and CEO of SINAI Technologies. “We’re excited to build on our momentum in Brazil through our collaboration with Grupo Boticário to help take action on carbon globally, and through Positive Ventures’ support grounded in our shared values to provide even more companies with an optimal solution pathway for their decarbonization journey.”
"Decarbonization is no longer a distant goal; it’s a present-day imperative, especially when considering the Time Value of Carbon,” said Murilo Menezes, Positive Ventures’ Managing Partner. “This concept underscores that avoiding carbon emissions today is far more impactful than waiting until we approach the deadlines set by the Paris Accord. Our investment in SINAI is rooted in our belief that technologies can be crucial levers to accelerate the adoption of tools that can truly make a difference in tackling hard problems, and SINAI’s innovative platform exemplifies this kind of entrepreneurial resolve and technological prowess.”
Amidst an ever-strengthening global commitment to sustainability, the Net Zero Tracker indicates a remarkable trend: 90% of the world's GDP is now aiming for carbon neutrality by 2050. This statistic underscores the widespread acknowledgment that achieving net zero is critical to our collective future. As this movement gains traction, it spotlights the urgent need for innovative solutions that can drive real change in carbon-intensive industries.
This year’s United Nations Climate Summit (COP28) is focused on climate-related health risks. Brazil's President Lula made important contributions in demanding that the 1.5°C temperature increase limit be respected, and in emphasizing the need to address the climate crisis and inequality. As the world warms, the burden of tropical diseases will worsen along with other climate-driven health threats, including malnutrition, malaria, diarrhea and heat stress. More than 120 countries, including Brazil, signed the COP28 declaration acknowledging their responsibility to keep people safe from the negative impacts of climate change on health.
About SINAI
SINAI Technologies Inc. is a Decarbonization Intelligence platform built to help organizations to build decarbonization strategies. Its decarbonization platform enables more intelligent carbon emission measurement, reporting, mitigation and scenario analysis for organizations using science-based methodologies. To learn more, visit: www.sinaitechnologies.com or follow us on Twitter @SINAICarbonTech or LinkedIn @SINAI Technologies Inc.
About Positive Ventures
Positive Ventures is pure-play impact investing venture capital with offices in São Paulo and San Francisco galvanizing support for solving some of Latin America's most vexing social and climate challenges with an entrepreneurial and technology-first approach. Since its founding in 2015, Positive Ventures has played a pioneering role in the development of impact investing across the Global South.
About Grupo Boticário
Grupo Boticário is a global company and one of the largest manufacturers of cosmetics and personal care products in Brazil. They are present in over 50 countries with more than 9 different brands. In 2022, they were recognized by the Dow Jones Sustainability Index as the 6th most sustainable cosmetics company in the world. Grupo Boticário has sustainability at its core and is increasingly aligning its business strategy with the climate agenda. Grupo Boticário has reported its greenhouse gas (GHG) emissions since 2008 and has disclosed climate agenda information to the Carbon Disclosure Project (CDP) since 2022.
