Carbon accounting software providers Greenly and Normative have agreed to merge, creating an integrated enterprise platform to manage corporate carbon accounting, life-cycle assessments, and supply chain emissions tracking.
The transaction unites two of the industry’s largest emissions databases under a single system of record, incorporating a combined library of more than 5 million emission factors. The group aims to expand its combined software Annual Recurring Revenue (ARR) from €30 million to €50 million within three years.
The merger combines Stockholm-based Normative’s scientific methodology and European enterprise client base—which includes Nordea, Flying Tiger, Vodafone, Typeform, and Hitachi—with Greenly’s AI-native automation, international presence, and product suite. The combined entity will remain founder-led, backed by existing investors from both firms, including Blume Equity, Horizons Ventures, ETF Partners, 2150, EIP, XAnge, and 7Ridge.
Key platform features and operational integrations include:
- Regulatory compliance integration: Support for multi-framework disclosures, including the Corporate Sustainability Due Diligence Directive (CSRD), IFRS Foundation standards, SEC climate rules, and Science Based Targets initiative (SBTi) criteria, alongside product regulations such as CBAM and the Digital Product Passport.
- AI agent development: Integration of Normative’s methodological datasets into Greenly’s specialized AI agents, including The Architect for multi-entity data quality checks, The Scope 3 Scout for supplier coverage, The Environmental Engineer for product life-cycle analysis, and The Strategist for board-level decarbonisation planning.
- Risk engine & utility management: Expansion of the platform’s ESG suite to include a climate-risk engine that models physical climate hazards and extreme weather costs across assets, alongside integrated utility management modules for real-time energy procurement and expenditure tracking.
- Partner network delivery: Platform delivery supported by implementation partners via Greenly Pro, including Schneider Electric Advisory Services, McKinsey, Quantis, Wavestone, and Dekra.
Sebastien Blanc, Chief Executive Officer of Normative, stated: “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.”
Alexis Normand, Chief Executive Officer and Co-Founder of Greenly, added: “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. By bringing Greenly and Normative together, we are laying the first foundations of that infrastructure.”
