Pioneering Feature Provides Accurate Efficient Supplier Carbon Emissions Risk Identification to Prioritize Decarbonization Engagement Initiatives
EcoVadis, the leading provider of business sustainability ratings, today announces the addition of Carbon Heatmap into its Carbon Action Module solution, which provides a simple entry point into a supplier decarbonization journey. Unveiled at the EcoVadis Sustain 2023 conference, Carbon Heatmap is ideal for companies who want an intelligent carbon emissions risk mapping tool to quickly and easily identify carbon hotspots across their trading partners.
Identifying carbon hotspots is a necessary first step into a supply chain decarbonization journey as noted by key industry frameworks such as the WBCSD PACT initiative, and World Resources Institute's Greenhouse Gas Protocol. But research shows companies are struggling to accelerate progress towards emission-reductions goals due to lack of supply chain visibility. Using best-in-class carbon hotspot mapping analysis, Carbon Heatmap provides a comprehensive carbon emissions risk calculation across a company's value chain and prioritizes "hot spots" for decarbonization in a matter of hours to days. With Carbon Heatmap, companies can identify the highest potential areas for GHG performance improvement and develop actionable carbon emissions reductions strategies.
"Given the urgency of the climate crisis, companies are seeking to reduce their carbon emissions and create a more sustainable business model that impacts not just their bottom line, but also benefits both the planet and society," said Julia Salant, general solutions manager, carbon at EcoVadis. "Carbon Heatmap is a game-changer to help organizations work towards their sustainability goals. Companies can now take a more strategic and data-driven approach to make the most significant impact in reducing emissions and driving supply chain decarbonization."
Carbon Heatmap is a cost-effective solution for companies that want to make progress on their sustainability efforts without committing significant resources upfront. The solution combines EcoVadis' unique repository of GHG emissions data based on 14,000-plus reporting organizations across the world. It also pulls from robust public databases along with an organization's specific spend and criticality data. The methodology is continuously updated based on the latest industry research, standards and literature review.
Benefits and key features of Carbon Heatmap include:
- Profile an unlimited number of suppliers, including by spend and criticality data.
- Carbon emissions risk calculation on a scale of 1-6 for each supplier to uncover the level of their risk and the potential to reduce those emissions.
- Mapping of overall carbon emissionsrisk by country, industry, emissions source and more.
- Customized recommendations that allow organizations to request action towards decarbonization and carbon emissions risk mitigation.
- Reduced investment of time and money required for a full scope 3 mapping conducted by consultants or carbon accounting companies.
A current challenge identified to carbon hotspot mapping has been obtaining reliable matching of spend categories to supplier activity, which can lead to inconsistent results. EcoVadis' matching capabilities rely on three-years of IQ Plus technology with 1 million-plus companies mapped. This provides a foundation for companies across all phases of their supply chain decarbonization journey to take immediate action and engage their risky suppliers:
- Just getting started: Sustainability and procurement teams identify that suppliers are going to play an important role in meeting their organization's decarbonization goals, but they don't yet understand the full extent of their scope 3 emissions.
- Already on the journey: Companies who have started to engage their suppliers and measure their scope 3 emissions, but they need to scale and automate their programs.
- Leader: Organizations who have best-in-class sustainability and procurement collaboration in place but want to amplify the effectiveness and scalability of their supplier decarbonization programs.
For more information about how organizations can use Carbon Heatmap to prioritize suppliers for engagement on decarbonization, please visit www.ecovadis.com/solutions/carbon.
About EcoVadis
EcoVadis is a purpose-driven company whose mission is to provide the world's most trusted business sustainability ratings. Businesses of all sizes rely on EcoVadis' expert intelligence and evidence-based ratings to monitor and improve the sustainability performance of their business and trading partners. Its actionable scorecards, benchmarks, carbon action tools, and insights guide an improvement journey for environmental, social and ethical practices across 200 industry categories and 175 countries. Industry leaders such as Johnson Johnson, L'Oréal, Unilever, LVMH, Bridgestone, BASF and JPMorgan are among the 100,000 businesses that collaborate with EcoVadis to drive resilience, sustainable growth and positive impact worldwide. Learn more on ecovadis.com, Twitter or LinkedIn.
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