As the upcoming global climate change summit, COP 28, approaches in Dubai on November 30, Dmitry Aksenov is feeling apprehensive. Having been invited to collaborate with world leaders, officials, and businesses at the conference, he acknowledges the substantial amount of work that lies ahead. Despite the complexities involved, Aksenov views this as an opportunity to engage in crucial dialogues.
Aksenov, the co-founder of Net0 alongside his spouse Sofia Fominova, established the company 18 months ago. He expresses confidence in their ability to make a significant contribution to addressing the pressing issue at hand. He emphasizes, “Our primary objective is to tackle the most significant challenge currently faced by the world.” Aksenov believes that leveraging the most effective systems in place can yield substantial impacts.
The focal technology in this endeavor is artificial intelligence (AI). Through Net0’s AI engine, organizations can now accurately assess their carbon emissions, enabling them to subsequently reduce emissions in a cost-effective manner.
Aksenov’s credibility is underscored by his past achievements. He was previously recognized in Forbes’ 2016 list of top young businessmen and entrepreneurs to watch. During his tenure at DigitalGenius, an early adopter of AI solutions, the company generated over $25 million under his leadership.
Net0 is addressing a critical issue often overlooked by businesses— the imprecise estimation of carbon emissions beyond electricity consumption. Aksenov notes, “While organizations may have accurate data on electricity usage, other emission sources are often approximated.” This lack of detailed information hinders their emission reduction efforts and poses potential regulatory challenges.
To combat this issue, Net0’s solution focuses on precise emission measurement. By utilizing AI to gather data from all operational systems and vendors, including the supply chain, the platform offers real-time monitoring of pollution levels. Through comprehensive data integration on a single interface, organizations can continuously track their carbon emissions performance.
Moreover, the platform conducts numerous simulations to evaluate the financial and emission reduction impacts of various strategies. This assists organizations in identifying opportunities for emission reduction that align with financial objectives.
Aksenov emphasizes the dual benefit of Net0’s solution for both environmental and financial teams within organizations. By identifying environmentally friendly solutions with positive financial implications, the platform aims to drive sustainable changes over time, adapting to evolving technologies.
Net0’s technology not only aids in precise emission measurement and reduction but also provides organizations with the necessary data for transparent reporting. This transparency caters to the increasing demands for economic performance clarity from stakeholders such as customers, employees, investors, and regulators.
The company has garnered significant interest, with over 200 organizations, including government clients like Monaco, adopting Net0’s technologies since its launch in February 2022. Despite being self-funded, Net0 has already achieved profitability and plans to expand its operations to New York, complementing its existing presence in London, Monaco, and Dubai.
