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Victor Pérez Prieto and Jeeeun Choe, both former MSc Climate Change Finance and Investment students, formed the ‘Carbon Pricing Team’ alongside Ngaya Munuo (University of Cape Town) and Manolis Kotzampasakis (University of Groningen). They were invited to develop innovative digital solutions for solving complex social and economic challenges. The ‘Legal Tech in Carbon Pricing’ category was sponsored by Nemak, a multinational automotive supplier with facilities in 15 countries.

The team pitched a prototype that enables companies to identify their exposure to the increasing number of carbon pricing regulations and disclose it in line with updated certified standards. The prototype was further designed to allow the users to implement an Internal Carbon Price (ICP) by providing them with multiple methodologies (derived from common practice and previous use cases) and allowing them to adopt the most optimal option. The intention is that this prototype service can help companies manage their climate-related risks and decarbonise their operations and supply chains efficiently.

As part of the qualification round, the team worked up an initial plan around their solutions that they submitted to Baker McKenzie and Nemak. They then progressed to a ‘bootcamp’ phase of the competition where they were invited to elaborate on their concept, before making a final presentation to a judging panel.

Victor said: "We feel very proud of this achievement, as it reflects the effort that we put during the six months of the competition. Being the winning team opens new doors that we are excited to explore.

"Regarding the competition prize, our plan is to reinvest it into the implementation and growth of our solution. We would also like to thank Nemak, Baker McKenzie and Ekipa for their support during the whole competition. There is no doubt that these organisations care about sustainability and back young professionals in the search for innovative solutions."