Putting together a band of interested firms is only the first step. Next, the investors plan to develop a methodology to reduce their emissions and  reach net-zero  and best practices to encourage their portfolio companies to do the same. VCA members have been consulting with Project Frame, an initiative of the nonprofit Prime Coalition, to develop a structured way for VCs to think about and quantify their emissions — and how to reduce them over time. That includes the role that carbon offsets — which have a spotty record — will play in ensuring their portfolios reach net-zero.

https://www.bloomberg.com/news/articles/2023-04-25/venture-capital-focuses-on-climate-change-with-new-net-zero-alliance