Everyone is Making Net-Zero Pledges. SustainCERT's New Software Will Verify Their Progress
LUXEMBOURG, Nov. 17, 2021
SustainCERT S.A. ("SustainCERT"), the leading digital platform for verification of carbon emissions reductions and an official certification body for Gold Standard for the Global Goals, announces today the launch of the alpha version of a Scope 3 software for credible net-zero claims from emission reduction interventions in corporate supply chains.
As more companies set net-zero emissions targets, increased scrutiny on their transition plans has exposed significant gaps in credibility around how to measure and report on progress. Measurement and verification will be the decisive factors in distinguishing pledges from consequential action.
The lack of scalable solutions to measure climate impact across supply chains has left companies looking to the tech industry for solutions. They need to understand the intricacies associated with their indirect (Scope 3) emissions, and find ways to prove progress from investments in greening their supply chains. This will be key to credible net-zero claims.
SustainCERT, the leading platform for verification of carbon emission reductions and removals, is introducing a new product that lets companies track, account, and report verified emission reductions in their supply chains to help meet their net-zero targets. The technology measures and verifies progress towards net-zero efforts, while generating a potential new revenue stream for taking climate action.
SustainCERT has begun testing the alpha version of its software with partners including General Mills, the Australian Meat and Livestock Association (MLA) and Rabobank. The new product will be presented later today at the Value Change Initiative Online Summit.
Using SustainCERT's proprietary software, companies can quantify and verify climate impacts from interventions that reduce and remove emissions in their corporate value chain. Once verified, the software generates a unit that can then be exchanged among value chain actors and used for reporting against Scope 3 targets, introducing a new way to incentivise climate action.
"Corporates are aiming to do more than just account and report emission data," said Marion Verles, CEO of SustainCERT. "Their challenge now is how to drive collective action in their supply chains to achieve their net-zero ambitions."
With verified accounting and reporting of Scope 3 claims, the new software mitigates greenwashing risks, helps solve the double-counting dilemma, and presents a solution to the big question: how do we get corporations to act now?
Facilitated by SustainCERT and Gold Standard, the Value Change Initiative, which officially launches today, works closely with Science Based Targets and various organisations including WWF, WRI, and CDP, to develop standards for credible Scope 3 accounting. The guidelines developed through this initiative are foundational to SustainCERT's software algorithm.