Business sustainability ratings firm EcoVadis has launched a feature called the EcoVadis Product Carbon Footprint (PCF) Data Exchange.
The recent addition targets a crucial obstacle hindering corporate carbon reduction initiatives. Though suppliers frequently present their overall carbon emissions, purchasers often lack accurate data to pinpoint emissions specifically tied to their acquisitions.
EcoVadis stands as a key player in offering business sustainability ratings. The platform has set industry standards and provides tools that promote sustainable business practices and transparency.
The EcoVadis Product Carbon Footprint (PCF) Data Exchange is a novel feature that facilitates exact tracking of product-level greenhouse gas emissions. Built on the Partnership for Carbon Transparency’s (PACT) standards-based Pathfinder Framework, it empowers companies to oversee carbon footprint metrics throughout the EcoVadis supplier network.
Within EcoVadis’ vast network are 40,000 suppliers actively participating in carbon mitigation activities. This latest enhancement solidifies the firm’s commitment to refining carbon action tools and methods.
Utilising this innovative tool, entities can not only request carbon footprint details from suppliers but also engage in cooperative efforts to pinpoint emissions reduction possibilities. Moreover, the solution offers a specialised EcoVadis course, equipping suppliers with PCF proficiencies, and facilitates PCF data comparisons in line with global standards across the supplier network.
EcoVadis General Manager of Carbon Solution, Julia Salant, said, “Product carbon footprint data is the holy grail of carbon reporting. It’s the next step for organisations to accelerate their carbon maturity journey through precise measurement and management of emissions, helping organisations make a positive impact on the planet.”
Source: EcoVadis unveils carbon action module enhancement for emissions tracking – FinTech Global
About the Authors
Associate Director, Investment Banking
Prachurjya has over 16 years of experience in investment banking with Acuity Knowledge Partners. At Acuity, he has led sector and product-specialist pilot teams across Capital Markets, ESG, Debt Advisory, Loan Syndications, Metals & Mining and Real Estate. He has been actively involved in setting up and on-boarding new ESG Advisory, ESG DCM and Sustainable Finance teams for various bulge bracket investment banks. Within DCM and Rating Advisory, he has been instrumental in helping the clients achieve over 30% in annual savings on both regular and adhoc tasks through standardization of the outputs and deployment of our proprietary BEAT tools.
Delivery Manager, Investment Banking
Puja has 7 years of extensive experience in ESG, Climate Change & Sustainability and she is supervising the ESG team at Acuity. She also has diverse experience in conducting ESIA, EHS compliance audits, ESG Risks and Controls, EHS & ESG Due Diligence assessments. Prior to joining Acuity, she was working with companies like KPMG Global Services, EY India and ERM India. She has expertise in provisioning extensive research requirements for clients through preparation of Peer Benchmarking, Target Compilation, Sustainability report, Sustainable Finance Updates and Sectoral ESG Thematic Detailing Engagement.
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