News in the spotlight: Zevero Raises USD 7m to expand carbon accounting platform
Zevero, a carbon management platform, secured USD 7 million in new investment on March 24, 2026, bringing total funding to USD 14 million from investors including Spiral Capital, Gazelle Capital, and Deep 30. The round follows 400% year-on-year ARR growth and a doubled customer base, bolstered by the recent acquisition of sustainability advisory firm Inhabit to enhance emissions reduction capabilities.
Products and Services
Bregal Sphere announces strategic partnership with Imperative
Bregal Sphere, part of Bregal Investments, announced a strategic partnership with Imperative, providing financing to scale its global ecosystem restoration projects. As a natural capital investor, Bregal Sphere targets large-scale carbon removal initiatives delivering environmental impact and financial returns through partnerships with top developers. Imperative develops and operates restoration projects using infrastructure expertise and technology. Its flagship, Beka Emva, restores South Africa’s degraded subtropical thicket biome with Portulacaria afra (spekboom), targeting high-integrity carbon sequestration. The firm also advances a pipeline of reforestation and mangrove projects across Africa, Asia, and Latin America. The deal grants Bregal Sphere right of first refusal on up to USD 500mn for Imperative’s future projects, with an initial commitment planned for the first half of 2026. This elevates Imperative’s total project funding framework to USD 1.25bn, enabling rapid pipeline execution.
Regulations, Law and Frameworks
ISSB Proposes SASB Updates for Agriculture and Power Sectors
The International Sustainability Standards Board (ISSB) released an Exposure Draft proposing amendments to three SASB Standards—Agricultural Products, Meat, Poultry & Dairy, and Electric Utilities & Power Generators—along with updates to the Industry-based Guidance on Implementing IFRS S2 Climate-related Disclosures. These changes complete enhancements for all 12 priority SASB Standards. Objectives include aligning terminology with ISSB Standards like IFRS S1 and S2, boosting international applicability and investor decision-usefulness, ensuring interoperability with frameworks such as GRI and ESRS, and synchronizing climate content across SASB and IFRS S2 guidance. Amendments refine metrics for industry-specific disclosures, emphasizing financial materiality for investors. Feedback is open via online survey until July 24, 2026 (120 days); prior input on the first nine standards need not be repeated unless relevant here. ISSB Vice-Chair Sue Lloyd emphasized SASB’s critical role in delivering decision-useful, globally relevant data.
EFRAG reaches out to large companies on voluntary sustainability reporting
EFRAG is inviting EU companies outside CSRD scope—non-SMEs with under 1,000 employees or EUR 450m turnover—plus auditors, associations, lenders, investors, and sustainability data users to join engagement activities on the upcoming Voluntary Standard (VS). Activities include webinars, surveys, events, and interviews to assess practical application and Europe’s evolving reporting landscape. The VS, expected as a Delegated Act later in 2026, extends the SME-focused VSME endorsed by the European Commission in July 2025. Omnibus I narrowed mandatory ESRS adoption, leaving these firms free for voluntary reporting based on simplified ESRS principles. EFRAG aims to mirror its SME dialogue, gathering implementation insights to refine VS usability. Participants must email VRcontactlist@efrag.org by April 20, 2026.
ESG- and Green Bond Issuances
EBRD backs NLB Skopje with EUR 30m green loan
EBRD is providing NLB Skopje with a EUR 30m loan under the Western Balkans Green Outcomes-Linked Debt Financing Framework (WB GOLD), marking North Macedonia’s first such facility. The funding targets SMEs and mid-caps, channeling capital into sustainable assets like energy-efficient machinery and renewable energy systems to enhance competitiveness while delivering environmental gains. WB GOLD introduces outcome-based incentives to drive green lending growth in the region. It aligns with EBRD’s dual goals: private-sector-led economic expansion and a faster shift to resilient, low-carbon economies through improved green finance standards. Proceeds support general SME financing needs alongside verifiable sustainability upgrades, creating measurable impacts on energy use and resource efficiency. The initiative addresses financing gaps for smaller firms facing EU-aligned transition pressures. NLB Skopje will on-lend to eligible borrowers, with performance bonuses tied to green loan volumes and quality. This structures risk-adjusted returns for the bank while scaling sustainable investments.
ESG Data and Analytics
Watershed announces AI reporting for ESG data
Watershed has updated its platform to handle any ESG metric and generate any ESG report using AI-accelerated drafting and advisory features. The expansion aims to free sustainability teams from manual reporting tasks amid proliferating regulations like EU CSRD, California SB 253/261, Australian ASRS, and UK SRS, plus growing client data requests. The tools enable “measure once, report everywhere,” cutting errors from last-minute changes. Customers report gains like ingesting 1,300 PDF utility bills in two days (90% time savings) and completing SB 261 reports in two days versus a month. AI transparency ensures explainable outputs grounded in ESG data. Rolling out to early access now with broader availability soon, the features prepare teams for regulatory flux, acquisitions, and new data needs. Watershed positions this as essential modernization for resource-strapped teams facing constant change.
Zevero Raises USD 7m to expand carbon accounting platform
Zevero, a carbon management platform, secured USD 7 million in new investment on March 24, 2026, bringing total funding to USD 14 million from investors including Spiral Capital, Gazelle Capital, and Deep 30. The round follows 400% year-on-year ARR growth and a doubled customer base, bolstered by the recent acquisition of sustainability advisory firm Inhabit to enhance emissions reduction capabilities. The platform employs AI to automate Scope 1, 2, and 3 emissions data collection and calculation, creating reusable datasets for ESG disclosures, product design, and sourcing. Embedded climate experts analyze hotspots, set targets, and craft decarbonization strategies, enabling business-wide action beyond mere reporting. Funding arrives amid stricter climate disclosure standards, such as UK SRS and Japan’s SSBJ, which elevate emissions reporting to financial reporting rigor. Zevero serves clients like Asahi Group, Tokyo Metropolitan Government, and waterdrop across manufacturing, FMCG, and consumer sectors.