C3, HSBC Launch Net Zero Catalyst Program For The MENAT

C3 – Companies Creating Change, in collaboration with HSBC, has launched the C3 Net Zero Catalyst Program, aimed at developing scaleups focused on sustainability in the Middle East, North Africa, and Turkey (MENAT) region.

The program will facilitate progress toward a net-zero future by offering participating startups customized growth support, access to influential industry networks, and mentorship to help scale their businesses. 

The program builds on C3’s five-year partnership with HSBC, which has already assisted over 140 socially and environmentally focused regional ventures, including notable alumni such as Desert Control, Hydro Wind, and ONE MOTO. 

The Climate Policy Initiative (CPI) estimates that the MENAT region will have a US$200 billion climate finance gap by 2031, showing a need for more investment in climate adaptation and mitigation. This gap indicates a difference between what the region needs for climate-related investments and the funding currently available. 

In a statement, Sabrin Rahman, managing director - head of sustainability, HSBC Middle East and Turkey, said: “Working with clients and stakeholders to help catalyze the new economy is one of the core areas that play to our strengths as an organization. We’re excited by the potential of this catalyst program to bring attention to some compelling, scalable technology ideas, and businesses.”

Kevin Holliday, managing director of C3, added, "The Net Zero Catalyst Program is designed to empower scaleups to advance their sustainability efforts. In collaboration with HSBC, our long-standing partner who shares our strategic vision, we are equipping innovators with the tools, expertise, and networks needed to scale their businesses, and amplify their impact on sustainability within their industries."

C3’s Net Zero Catalyst Program is doubling down on later-stage startups in the MENAT region. These companies, already equipped with proven business models and established customer bases, are seen as key players in creating substantial and measurable impact in areas like emissions reduction, resource efficiency, and climate resilience. 

In an interview with Inc. Arabia, Holliday said, "The program prioritizes later-stage startups because they are uniquely positioned to drive immediate, measurable progress toward sustainability goals. With proven business models, established customer bases, and scalable solutions, these companies are ready for rapid growth and large-scale implementation." 

He added, "Later-stage startups play a critical role in bridging the $200 billion climate finance gap in MENAT, as reported by the Climate Policy Initiative (CPI) in its Global Landscape of Climate Finance 2023 report, by attracting investment into scalable, high-impact solutions. As they grow, these companies demonstrate the financial viability of climate-focused businesses, paving the way for increased capital flow toward sustainable initiatives. Moreover, they deliver practical technologies and business models that address the region’s urgent needs, including renewable energy, sustainable agriculture, and water conservation."

The program, said Holliday, will therefore help startups contribute to closing the region's climate finance gap. "Through the tailored support of the Net Zero Catalyst Program, these scaleups can streamline operations, build strategic partnerships, and align with global ESG standards," he explained. "This support not only increases their appeal to investors, but also ensures that their growth actively contributes to closing the climate finance gap while advancing a resilient, low-carbon economy in MENAT."

Applications for the C3 Net Zero Catalyst Program are currently open and will close on December 15. Interested parties can find more information and apply at this link.