Global carbon ratings agency BeZero Carbon has announced the successful closure of a $32 million Series C investment round aimed at expanding its role in the growing carbon markets. The round is led by GenZero, a decarbonisation-focused investment firm founded by Temasek and based in Singapore, with additional investments from Japan Airlines, the Translink Innovation Fund, and a range of existing backers.
These include EDF Pulse Ventures, Hitachi Ventures, Illuminate Financial, Intercontinental Exchange (ICE), Molten Ventures, Qima, and the Quantum Innovation Fund.
The investment boosts BeZero’s leadership in providing independent, risk-based ratings that ensure transparency and quality in the carbon market. Launched in 2022, BeZero Carbon’s platform has bridged the gap between carbon project impacts and carbon credit prices.
As of 2025, each incremental improvement on BeZero’s 8-point rating scale can command a price premium of up to 40%. This shift highlights the increasing demand for reliable carbon credit ratings as companies and governments strive to meet decarbonisation goals.
BeZero Carbon has gained traction in 30 countries, with its ratings available on 40+ platforms, including Bloomberg. The company now serves 100+ corporate clients, including UBS, Sumitomo, Emirates NBD, Equinor, Woodside Energy, and ERM. The platform offers in-depth ratings, data, and scientific analysis for over 480 carbon credit projects.
The Growing Carbon Market Opportunity
The global carbon market will reach $100 billion, creating millions of jobs and driving funding for climate action. BeZero Carbon is seizing this growth, as companies, countries, and global organizations look to carbon markets to achieve net-zero goals. Schemes like CORSIA and Article 6 of the Paris Agreement are driving demand for high-quality carbon credits and ratings.
Also read: BeZero Carbon Partners with Climate Impact X
Investment in Innovation and Automation
Tommy Ricketts, CEO and Co-founder of BeZero Carbon, said, “Securing a Series C in the current climate is a huge vote of confidence in our brilliant team and independent carbon ratings. We wouldn’t be where we are today without the support of our fantastic customers who now more than ever rely on our ratings.”
He added, “The funds will allow us to sustain our pace of innovation and expand our ratings coverage to compliance carbon markets, such as Article 6 and CORSIA, and the voluntary carbon market.”
BeZero will use the funds to broaden its ratings coverage, focusing on compliance markets, and enhance AI-driven automation. The company aims to scale ratings, data, and risk analytics by tapping into its growing team of climate experts.