Klappir is expanding to new markets with financing from Nefco

Increased sustainability awareness is a social and economic imperative. Companies will need to respond to existing environmental rules and regulations, anticipate the legislative agenda and be prepared to comply, quickly and efficiently. Therefore, there will be a growing demand for efficient software solutions to improve the speed and accuracy of decisions related to sustainability accounting, analytical processing and environmental predictions.

Klappir’s sustainability software solutions help businesses, municipalities, and governments to measure and report their sustainability performance and reduce their footprint.

Nefco, the Nordic Green Bank, has signed a convertible loan agreement with Klappir. Currently, Klappir’s software has already more than 6,000 users in Iceland and Denmark. Financing from Nefco will be used to scale up operations in Europe and North America.

“Comprehensive cooperation, data management and sharing are the key to a more sustainable future. We provide the technologies and experience with high quality along with a proven track record that supports these crucial elements of sustainability improvements. Monitoring and interconnecting activities in a global sustainability accounting system like Klappir will be an indispensable element of organizations’ competitive, legal, and regulatory strategies, as well as for governments at every level” says Jon Agust Thorsteinsson, CEO of Klappir. “Nefco’s green financing gives Klappir the opportunity to continue working towards a greener and more sustainable future, and to grow and advance in international markets,” says Thorsteinsson.

As it is a software solution, the environmental impact is indirect. However, by making comprehensive data monitoring and analysis easier, the solution encourages companies and other organizations to adopt sustainable practices and integrate sustainability information into their reporting cycle, in line with the Sustainable Development Goals. A certification agency has assessed Klappir´s activities as eligible and aligned with the relevant criteria of the EU Taxonomy.

“This is a good example that ICT systems can also be regarded as green solutions that contribute to the transition. We are well aware that the EU Taxonomy and the new corporate sustainability reporting directive, among other reporting standards, may create challenges for many companies to meet the requirements. This type of solution has the potential to succeed, and we are happy to help Klappir on its way to global markets,“ commented Thor Thorsteinsson, Vice President Green Transition for Nordic SMEs at Nefco.

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