What:

Momentum is a venture capital fund based in Bergen, Norway that invests in innovative and ambitious companies in the seed and growth stages. Momentum has sustainability at the heart of their business and only invests in companies that contribute to the green shift of the economy. They invest in verticals such as ocean industries, property tech, sustainable food production and the electrification of society. Following regulations in the Sustainable Finance Reporting Directive (SFDR), Momentum needed a solution that could help them efficiently score their fund’s portfolio companies according to the EU taxonomy.

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How:

Using Celsia’s EU taxonomy assessment module, Momentum’s portfolio companies assess themselves and provide the data needed to determine their EU taxonomy alignment score. Momentum gets the portfolio company performance aggregated in its fund overview, where it may track progress and preliminary results from its portfolio companies.

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Impact:

• Minimized administrative burden of sustainability reporting for itself and its portfolio companies
• Ensured SFDR-compliant sustainability reporting
• Enabled EU taxonomy performance to be included in investment screening and due diligence process
• Made sustainability more tangible for portfolio companies and helped make them identify and plan resolutions to issues

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