Newcastle based Sage to support SMEs’ net zero journey via new acquisition

Sage, a specialist in accounting, financial, HR and payroll technology for SMEs, has announced its acquisition of Spherics, a carbon accounting solution to help businesses easily understand and reduce their environmental impact.

The acquisition reinforces Sage’s commitment to sustainability, in line with its purpose of “knocking down barriers so everyone can thrive”. 

Sage has pledged to fight climate change and help protect the planet, by halving its own emissions by 2030 and becoming net zero by 2040, by supporting SMEs to get to net zero, and by advocating for policy and regulatory frameworks to support the transition to a low carbon economy. 

Bristol headquartered Spherics automates the process of calculating emissions by ingesting data from a customer’s accounting software and matching transactions to emission factors to create an initial estimate of their carbon footprint.

The software then guides the customer to refine this estimate by submitting further data for a more accurate calculation, supporting SMEs on their journey to net zero. 

Spherics also helps SMEs apply carbon emission factors to procurement categories (such as delivery, accommodation, electricity and travel) to estimate the associated carbon footprint of a transaction.

This approach supports customers with spend-based analysis and aligns with the Greenhouse Gas Protocol, the globally agreed standard for measuring carbon emissions. 

Amaya Souarez, EVP Cloud Operations, Sage, commented: “We know that SMEs care about the impact they have on the environment, and our research shows that they want to work with suppliers and partners that can help them understand and address it.”

“The acquisition of Spherics represents an important milestone in our sustainability strategy. By combining Spherics’ innovative software with Sage’s digital network, we are connecting businesses with their customer and supplier emissions data, enabling easy and collaborative climate action across value chains which helps to reduce carbon.”  

George Sandilands, CEO & co-founder, Spherics, added: “Our vision and mission align very much with Sage’s core values, and we are excited to embark on this new journey to help SMBs knock down barriers to a more sustainable future. Global emissions are still rising fast, and we need immediate and meaningful climate action across the world.

“Together with Sage we can help make a global impact on greenhouse gas emissions by supporting SMBs on their journey to net zero.”

By Matthew Neville – Correspondent, Bdaily

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