What is carbon accounting?
We define carbon accounting as the process of measuring a company’s direct and indirect greenhouse gas emissions and removals, calculated as carbon dioxide equivalents (CO2e).
But it’s more than a carbon footprinting exercise; it’s the process of continuously scrutinising your emissions and embedding carbon into your company’s decisions.
Why does carbon accounting matter?
It’s fast becoming a requirement
Investors need, regulations dictate, and stakeholders enquire about a company’s carbon footprint. The world in 2021 is climate-conscious, and understanding your company’s environmental responsibility is just part of doing business today.
It’s the great equaliser
When aligned with global frameworks, carbon accounting provides consistency, comparability, and transparency—making it easier to benchmark companies and industries against global climate goals and put a financial price on carbon.
It’s great for business
Carbon accounting enables climate action, equating to a host of business benefits, from financial cost efficiencies, increased brand value to attracting and retaining the best talent.
Our carbon accounting approach
Maximising the benefits of carbon accounting as a tool for climate action demands repeatability.
That’s why Emitwise breaks the process into three steps.
Your corporate carbon footprint baseline
To globally recognised standards, frameworks and regulations
Your emissions through data-driven targets and strategies
Some things to note about our approach…
We are on a mission to future-proof your company for the net-zero carbon world we’re accelerating towards.
Scopes of work
Typically, companies account for the emissions that they release directly through their activities (scope 1) and their indirect emissions from purchased electricity use (scope 2). So everything from gas boilers and fleet vehicles to emissions from electricity generation.
Emitwise expands the focus to scope 3, indirect emissions from your value chain, covering everything from raw material acquisition to the treatment of sold products after use. Accounting for up to 90% of a company’s emissions, scope 3 is too big to ignore. We make it easy to integrate upstream and downstream carbon data into one centralised view.
Just like financial accounting, carbon accounting aligns with calculation methodologies that standardise the accounting process.
Our core carbon accounting process aligns with two internationally established methodologies, ISO 14064 and The Greenhouse Gas Protocol Corporate Standard. Both encourage an assessment of scopes 1, 2 and 3 alongside which our platform enables you to do.
Tool for change
Carbon accounting has been perceived as a tick box exercise fulfilling
regulatory demands, But here’s what we are doing to change that:
|The Problem||Our Solutions|
|Complex data collection that’s resource and time-intensive, therefore only done once a year.||We take the hassle out of collecting emissions data by automating continuous flows from your data systems and those of your suppliers and external sources, giving you the time back to reduce emissions, not locate them.|
|Data gaps, opaque calculation methodologies and antiquated emission factor databases undermine the perceived accuracy and actionability of results.||Designed by carbon accountants and built by technology wizards, our platform complies with global accounting methodologies, pulls emission factors from our up-to-date proprietary database and utilises machine learning to fill in data gaps intelligently. Accuracy and actionability concerns are a thing of the past.|
|Difficulty spotting, tackling and tracking action on carbon hotspots to share progress and increase buy-in from stakeholders to sustainability.||Our platform centralises your entire value chain’s carbon data, meaning every team and supplier is working from the same source of truth, enabling congruent climate action. What’s more, our dashboards allow you to quickly identify carbon hotspots, set targets to reduce them and track your sustainability progress easily and clearly.|
Our three-step approach
Establish the baseline to set your emission reduction agenda from, continuously measuring your progress towards net-zero.
Go above and beyond compliance, share your net-zero journey with stakeholders and regulators the easier way.
The ultimate goal. Let’s understand how you can accelerate your company’s roadmap to carbon reduction.