Solactive, a provider of financial indices headquartered in Frankfurt, has invested in local climate change start-up right.based on science.
The investment offers Solactive a minority stake in the climate change firm. Financial details about the transaction were not revealed.
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The start-up has the ability to measure how much a company contributes to global warming using the XDC (X-Degree Compatibility) model.
Commenting on the alliance, right. based on science CEO Hannah Helmke said: “With its minority stake, Solactive is a partner that has excited us through its incredible agility, the team’s fresh, entrepreneurial, and tech-focused mindset and its profound financial expertise.
“We believe that together we can take the XDC Model to the next level and make it a valuable instrument for everyone looking for an open-source standard for climate impact measurement.”
Through the fresh infusion, right.based on science plans to speed up the development of its software.
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By GlobalDataSolactive CEO Steffen Scheuble said: “A coherent and stress-tested model to precisely compute a company’s ecological footprint is a precious asset and of significant importance for our society.
“When we first heard of right. based on science, we were fascinated immediately by their model’s outstanding degree of sophistication and its simple and straightforward output.”
