Sievo CO2 analytics enables organizations to gain visibility into their scope 3 emissions across their full supply base
Helsinki 28.10.2021 Sievo, the global leading procurement analytics company, launches CO2 analytics to bring visibility into the emissions of the supply chain. The new solution will revolutionize how procurement can measure, report, and understand their carbon emissions from a holistic overview across the enterprise down to a single category.
The drivers for understanding, reporting, and reducing CO2 emissions have never been stronger with growing concerns from investors, regulations, and massive global shifts in public opinion. According to various studies, approximately 80% of emissions come from the supply chain, setting procurement up in the driver’s seat to impact emissions. Launched today, Sievo CO2 analytics provides organizations with visibility to scope 3 emissions to start reducing emissions.
The new solution, wherein data is automatically updated each month, enables reporting overall emissions, identifying emission hotspots, following emission reduction targets, and reducing emissions with data-based decision-making. Moreover, Sievo’s analytics allows for presenting all procurement data in one place, resulting in a supercharging of cross-functional collaboration – an aspect much needed in many organizations to act on emission reductions.
“Procurement’s role in driving down carbon emissions is known, but many still struggle with manual processes in data matching, are stuck on a yearly reporting cycle, and have a clear lack of engagement. Sievo’s new CO2 analytics will answer to these calls”. Heta Ruikka, VP Product at Sievo states.
Sievo expects the new solution to drive sales especially in Europe, where carbon reporting is required from many perspectives. The new solution was piloted with four customers, and further product development begins immediately.
The calculations in the background are performed according to the greenhouse gas (GHG) protocol, allowing organizations to utilize the insights in reporting to parties like CDP and the Science Based Targets initiative. For the calculations, globally established databases such as Ecoinvent and Exiobase are used as a baseline to add other data on top including supplier specific information.
“Seeing the demand for this kind of a product from our customers has been eye-opening and encouraging”, said Ruikka. “After all, the first step to reducing emissions is to understand them.”
To find more information about CO2 analytics, contact us at sievo.com.