Adtech innovator goes carbon neutral ahead of schedule

Advertising company LoopMe has innovated to become carbon neutral seven years ahead of its initial target date.

 

The company, which uses artificial intelligence to improve brand advertising performance, has reached net zero for Scope 1, Scope 2, and Scope 3 emissions. Working with third parties to independently measure carbon impact, LoopMe has reduced gross emissions for every 1,000 impressions an ad receives by 87% compared to 2021.

 

In order to achieve this goal, it conducted a variety of internal carbon footprint reduction efforts, including maximizing cloud efficiencies through migration of data centers to renewable-powered sites such as those run by Google Cloud; reducing electricity consumption; establishing environmentally-geared HR policies; and investing in high-quality carbon removal projects.

 

“We are extremely proud to announce that LoopMe is among the first wave of adtech companies to have dramatically reduced all gross emissions, thereby achieving our goal to become a carbon neutral company,” said Stephen Upstone, CEO and founder of LoopMe. “Reaching carbon neutrality is a critical first step in giving back to the ecosystem we serve, and now our business sustainability efforts can empower our customers and partners to further reduce their carbon footprint.”

 

In partnership with sustainability consultancy Ainsty Risk, LoopMe achieved its target seven years ahead of schedule. The original goal was to reduce Scope 1, 2, and 3 emissions by 100% by 2030, from a 2021 base year, holding LoopMe to a 1.5c degree standard. LoopMe accomplished this feat in April 2023, by taking steps across different elements of the business concurrently, including migrating from hardware servers to Google Cloud, which is powered by renewable energy and provides a carbon dashboard to enable users to report on CO2 costs and more; making all office infrastructure cloud-enabled to reduce electricity consumption; consolidating the company’s office footprint, and instituting changes to travel policies and remote-work policies to incentivize green commuting; offsetting their residual emissions by supporting community-based carbon avoidance projects.

 

“We are proud to work with LoopMe on their migration to Google Cloud, the industry’s cleanest cloud,” said Adrian Poole, Director, UKI Digital Natives at Google Cloud. “This collaboration will help LoopMe build a better, more environmentally-friendly ecosystem and supply chain for all of their clients and partners.”

 

LoopMe is also in discussions with all major accredited third-party verifiers of greenhouse gas inventories to corroborate the GHG inventory under SBTi standard so that the verified LoopMe GHG inventory could be publicly reported and shared directly with key stakeholders. Furthermore, LoopMe has been ramping up its development efforts to produce tools that enable carbon reduction by leveraging its AI capabilities.

 

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Book of the Month*

The Serendipity Mindset: The Art and Science of Creating Good Luck

By Dr Christian Busch
Serendipity is an aptitude for making desirable discoveries by accident. To other people it looks like “good luck”, but it is more the ability to recognise and seize an opportunity, rather than have good fortune thrust upon one. Finding a wallet stuffed with money on the conference room floor is good luck, whereas holding it up and asking if anyone has lost their wallet might be the beginning of a valuable friendship – that would be serendipity.

Chance encounters, or strokes of fortune, feature in countless stories of business success. This book looks beneath the surface, reveals and teaches the mindset that can transform pure chance into opportunity. The author is director of the Global Economy Program at New York University’s Center for Global Affairs, and a lecturer at the London School of Economics.

Serendipity is an aptitude for making desirable discoveries by accident. To other people it looks like “good luck”, but it is more the ability to recognise and seize an opportunity, rather than have good fortune thrust upon one. Finding a wallet stuffed with money on the conference room floor is good luck, whereas holding it up and asking if anyone has lost their wallet might be the beginning of a valuable friendship – that would be serendipity.

The author says “This is a book about the interactions of coincidence, human ambition and imagination”. In the above example: finding the wallet is the coincidence; ambition is the desire to make something of the discovery; add imagination and you open up a whole menu of possibilities: from spending spree to earning a reputation for honesty – or even making a wealthy friend.

Business is typically forged on human ambition and imagination, but early success often feeds an appetite for control – and “control freaks” can be blind to the opportunities thrown up by the unexpected. They only see chance events as distractions. If plans go awry, they may blame the failure on “bad luck” rather than admit their own inflexible attitude.

The author himself admits to being “a German who is used to planning” and prone to feel anxious when something unexpected happens. That makes him an ideal teacher, because he has worked hard to discover and analyse the mindset that enables one to “connect the dots” and cultivate serendipity. He presents a goldmine of examples from science, business and life where an apparent mishap or failure lead to a breakthrough.

Indeed, studies suggest that around 50% of major scientific breakthroughs emerge as the result of accidents or coincidences. A well-known example is Alexander Fleming’s discovery of penicillin, launching the whole field of antibiotics. Other examples include X-rays, nylon, microwave ovens, rubber, Velcro, Viagra and Post-it Notes – where would we be without these!

The book goes beyond the ability to recognise and respond to opportunities in chaos, but the subtitle – The Art and Science of Creating Good Luck – is actually a bit misleading. True, he does show ways to develop better fortune, but it would be better to call it “inviting” or “encouraging” good luck. For example, he suggests better ways to start a conversation with a stranger – ways that will make it more likely to lead to chance connections or shared interests.

The publishers may have chosen the word “creating” to make the book appeal to the human desire to control – for control freaks are exactly the readership that would benefit the most from this book’s wisdom and practical advice.

For the rest of us, it offers a great way to rediscover the sense of play that is so important in life – and too often lost in business.

 

“Following the success of The Serendipity Mindset hardback, a paperback edition has also now been launched under the title “Connect the Dots”.

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