The Traction Five: ESG – Scope 3 Emissions Accountability
While strides are being made globally in carbon emissions accounting and offset, Scope 3 emissions reduction – involving the indirect emissions from upstream and downstream suppliers/partners – remains elusive. Given that it can account for over 90% of an organization’s carbon footprint, however, it is paramount to track. Traction has identified key startups that are focusing on this area to help companies measure, manage, and report on Scope 3 emissions, as well as innovatively promote carbon offset when significant reduction is not possible.
At the core of what we do is help our clients accelerate digital transformation projects and their corporate development, whether that’s through our SaaS application or research services that evaluate what we call “enterprise-ready” emerging technologies. Discovering technologies that solve our clients’ most challenging needs, we come across many early-stage companies that surprise and delight us. Here are a few who have developed game-changing technologies in the area of Scope 3 Emissions Accountability that we think are worth sharing and keeping an eye on:
This week’s Traction Five:
1 Sweep: Using the Sweep platform, organizations can accurately and seamlessly track their global emissions including Scope 3. Their network approach to carbon management empowers every carbon-emitting individual – including suppliers and business partners – to share their data and visualize how their activities are making a difference. Sweep offers finance offset capabilities so companies can offset emissions when they cannot mitigate. Recently, Sweep also partnered with Stripe to develop an app that allows users to understand the carbon footprint and environmental impact of their sales.
2 Emitwise: Emitwise goes beyond typical carbon platforms and expands the focus to scope 3, indirect emissions from the value chain, covering everything from raw material acquisition to the treatment of sold products after use. Emitwise makes it easy to integrate upstream and downstream carbon data into one centralized view and automates continuous flows from your data systems and those of your suppliers and external sources.
3 Planetly: Planetly is a platform that allows a company to easily measure, manage, and report on emissions, including for Scope 3. The software allows users to understand value chain emissions, including setting supplier standards, then scoring and benchmarking them to enable better value chain decisions moving forward. Recently, Planetly was acquired by OneTrust and can be utilized independently or part of OneTrust’s larger sustainability platform.
4 ClimateTrade: ClimateTrade connects climate mitigation project developers directly with companies looking to offset their carbon footprint which helps to achieve sustainability goals by offsetting CO2 emissions and financing climate change projects. Users can access a marketplace where they can directly offset their carbon footprint by selecting the most suitable carbon credits. It uses blockchain technology to guarantee that carbon credits are cancelled in the corresponding registry, and to ensure that the money committed from the sale goes directly to the source of the project.
5 Watershed: Watershed allows companies to measure their carbon footprint, reduce emissions, fund carbon removal, and perform investor-grade reporting on progress, including for their supply chain. Companies can set supplier and value chain goals, then measure and benchmark suppliers through a central dashboard. Watershed also offers an offset marketplace to enable access to frontier carbon removal technologies, helping to build the market for cutting-edge solutions while permanently removing carbon. All of these offset projects are vetted by Watershed sustainability experts.
We built Traction Technology to meet the needs of the most demanding customers, empowering individuals and teams to accelerate and help automate the discovery and evaluation of emerging technologies. Traction Technology speeds up the time to innovation at large enterprises, saving valuable time and money by accelerating revenue-producing digital transformation projects and reducing the strain on internal resources, while significantly mitigating the risk inherent in working with early-stage technologies.
Let us share some case studies and see if there is a fit based on your needs.
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