Concept: Luxembourg’s carbon emissions accounting and verification platform startup SustainCERT has rolled out a new emission tracking software that allows businesses to measure improvements in carbon emissions. The software measures each aspect of carbon emissions from a specific business and helps to achieve net-zero emissions for businesses. It enables quantification and comparison of data fields to transform the carbon emissions of a specific company into a numerical value comparable with other similar corporations. software is specifically focused on scope 3 emissions that occur in an organization’s supply chain and are difficult to measure.
Nature of Disruption: SustainCERT’s software enables organizations to track, account, and report verified emission reductions in their supply chains to help meet their net-zero targets. Leveraging the new software, the organizations can quantify and verify climate impacts from interventions that reduce and remove emissions in their corporate value chain. Once the impact has been verified, the software generates a unit that can be exchanged among value chain actors. This can help organizations to meet their net-zero targets while generating a potential new revenue stream linked to climate action. The startup claims that the new software can mitigate greenwashing risks by verified accounting and reporting of scope 3 claims. The guidelines present in the new software are developed in collaboration with Science-Based Targets and various organizations including WWF, WRI, and CDP. The guidelines in the software are developed in line with best-practice accounting and reporting frameworks including Greenhouse Gas (GHG) Protocol. The alpha version of the new platform is currently tested by General Mills, the Australian Meat and Livestock Association (MLA), and Rabobank.
Outlook: At present, there is a lack of scalable solutions to measure climate impact across the supply chains of the organizations. The organizations are looking for solutions that can quantity and verify the carbon emission reductions. The new software enables the organizations to verify carbon emissions reductions particularly focused on scope 3 emissions. It enables organizations to achieve their target of net-zero emissions. In October 2021, the startup completed a $10M capital raise led by Innovacom and participation from Microsoft Climate Innovation Fund. It aims to use the funding to invest in developing new technologies with major enhancements expected to the digital monitoring, reporting, and verification (MRV) application to unlock near real-time issuance of carbon offsets.
This article was originally published in Verdict.co.uk