• Greenly and Normative are merging to create a larger climate software platform spanning carbon accounting, Scope 3, life-cycle assessment and regulatory reporting.
• The combined platform will draw on more than 5 million emission factors, bringing together two major carbon emissions datasets under one system.
• The companies aim to grow combined software annual recurring revenue from approximately $34.8 million to $58.1 million within three years.

Greenly and Normative are merging as consolidation accelerates across the global carbon accounting software market.

The combination brings together two established climate technology providers and their emissions datasets. The companies say the resulting platform will give businesses a more detailed view of Scope 3 supply-chain emissions. It will also support increasingly complex regulatory requirements.

The combined group plans to grow software annual recurring revenue from approximately $34.8 million to $58.1 million within three years.

Building a single climate data platform

Corporate carbon management has become increasingly fragmented. Many companies use separate systems for emissions measurement, supplier engagement, life-cycle assessments and regulatory disclosures.

Greenly and Normative want to bring those functions into one platform.

The combined offering will cover corporate carbon accounting, supplier engagement, product footprints, life-cycle assessment, energy management and multi-framework ESG reporting. It will support requirements including the Corporate Sustainability Reporting Directive, IFRS standards, US SEC requirements and the Science Based Targets initiative.

Normative’s scientific methodology will also feed into Greenly’s AI-based platform. Together, their databases contain more than 5 million emission factors.

That scale could become increasingly important as companies move beyond annual emissions inventories. Businesses face growing demand for continuous data across suppliers, products and operations.

European sustainability reporting requirements remain one driver. California’s SB 253 and SB 261 climate disclosure laws are also increasing pressure on large companies operating in the US.

Product-focused measures add another layer. These include the EU Carbon Border Adjustment Mechanism and Digital Product Passport requirements.

Normative adds enterprise and scientific capabilities

Stockholm-based Normative brings a 170-person workforce across Stockholm and London. It also has established relationships with major European companies.

Its customers include Nordea, Flying Tiger, Vodafone, Typeform and Hitachi. The company has focused heavily on audit-ready emissions data and compliance with demanding sustainability reporting frameworks.

Normative has raised more than $46 million to date from investors including Blume Equity, Horizons Ventures, ETF Partners and 2150.

Those investors will now join Greenly’s existing backers, which include EIP, XAnge and 7Ridge. The combined business will remain founder-led.

Sebastien Blanc, CEO of Normative, said: “Achieving real change in how companies deal with climate risks will require more than scientific credibility, trusted data and commitment to customers. It will require platforms that have the breadth and depth of features and services to handle all of their clients’ needs in 1 place, across multiple regions, methodologies, requirements or needs, without sacrificing the quality of the work. Greenly and Normative’s team share the same mission, culture and goals and, together, we can turn methodological rigour into real climate and economic impact at scale.”

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Carbon accounting moves toward shared infrastructure

The merger reflects a wider shift in climate technology. Carbon data is moving from a specialist sustainability function toward infrastructure used for procurement, finance, product strategy and regulatory compliance.

Alexis Normand, CEO and co-founder of Greenly, said: “When we look back from 2050 at what made global decarbonization possible at scale, I believe we will see the emergence of a common language and source of truth for carbon as a defining moment — much as double-entry bookkeeping helped unleash modern finance during the Renaissance. We will not reach Net Zero through thousands of disconnected spreadsheets, surveys, methodologies and competing ledgers. Before companies can decarbonize at scale, they need a shared infrastructure for understanding where emissions come from, and whether they are actually falling. That is bigger than a competition between software companies. Someone has to do the hard work of building the carbon infrastructure of the twenty-first century: a trusted system capable of measuring emissions consistently across companies, products and supply chains, and ultimately of turning carbon reduction into something as measurable and accountable as financial performance. By bringing Greenly and Normative together, we are laying the first foundations of that infrastructure. Our ambition is not simply to build a larger company, but to help create the accounting system for the decarbonized economy.”

Existing Greenly customer contracts will remain unchanged as integration begins.

For executives and investors, the bigger question is whether consolidation can improve consistency across corporate carbon data. As disclosure regimes expand, companies increasingly need emissions information that can withstand regulatory, financial and procurement scrutiny across multiple jurisdictions.

Greenly and Normative are betting that scale, stronger methodology and a larger emissions dataset will give them an advantage as that market matures.