PCF Data Exchange Uses the PACT Pathfinder Framework Which Provides a Global Standard for GHG Reporting Requirements
PARIS, FRANCE and NEW YORK, NY / ACCESSWIRE / October 5, 2023 / EcoVadis, the leading provider of business sustainability ratings, today announces the addition of a new feature, the EcoVadis Product Carbon Footprint (PCF) Data Exchange, into its Carbon Action Module (CAM) to unlock PCF tracking across its network of suppliers, of which 40,000 are engaged in carbon action. PCF Data Exchange overcomes a key barrier to carbon reduction strategies - reporting GHG emissions for the actual products and services purchased across the supply chain - and helps change the way organizations engage on a decarbonization journey with their trading partners.
Most suppliers who begin to measure carbon emissions start by reporting their overall carbon footprint. However, they often serve multiple customers with a wide range of products and services. This creates a challenge for buyers: they lack precise enough data to know which portion of the supplier's emissions relate to their specific purchases. PCF solves this by specifying more precisely the greenhouse gas emissions generated by a product over the different stages of its life cycle. EcoVadis' PCF solution follows the global standard for product-level emissions accounting and exchange as defined by the Partnership for Carbon Transparency (PACT).
The partnership enables organizations to shift from industry averages to precise, actual emissions data tied to their product mix. A giant leap forward in Scope-3 accuracy, PCF enables precise year-over-year emissions tracking, empowering organizations to identify practical and specific reduction steps at the product-level.
As a PACT Collaborator, the EcoVadis PCF Data Exchange solution uses the PACT Pathfinder Framework and the globally recognized standards it is built upon. EcoVadis brings the benefits of this collaboration to customers, enabling greater emissions transparency and an easy exchange of reliable product carbon-footprint information across organizations, supply chain tiers, industries, and stakeholders.
"As the climate crisis worsens, more organizations are recognizing their role in mitigating its effects by engaging suppliers to measure and cut emissions to meet decarbonization targets and to align with industry and global goals," said Julia Salant, general manager, carbon solution at EcoVadis. "Product carbon footprint data is the holy grail of carbon reporting. It's the next step for organizations to accelerate their carbon maturity journey through precise measurement and management of emissions, helping organizations make a positive impact on the planet."
PCF Data Exchange is part of the EcoVadis Carbon Action Module, a solution designed to build supplier carbon maturity, a prerequisite to start reporting on PCF. CAM scorecards and tools measure, benchmark, and help suppliers build knowledge and management capacity, from "Beginner" and "Intermediate" all the way up to the "Advanced" or "Leader" levels needed to start reporting PCF. It also encourages suppliers to adopt best practices such as life-cycle assessments (LCA), setting science-based targets, public reporting through CDP, and more.
Core benefits of EcoVadis' CAM solution with PCF Data Exchange allow organizations to:
- Request and collect PCF data from suppliers and work collaboratively to identify specific reduction opportunities and actions.
- Build supplier capability with a dedicated EcoVadis Academy course on PCF fundamentals.
- Compare PCF data across their supplier network using globally recognized standards.
Suppliers can:
- Enhance understanding of PCF with a dedicated EcoVadis Academy course.
- Report and share PCF data securely through the EcoVadis network, in line with global standards.
- Gain insights to identify and guide emissions reductions at the most impactful points in the product or service life cycles.
For more information about how Carbon Action Module with Product Carbon Footprint Data Exchange can unlock a new level of Scope-3 decarbonization, please visit www.ecovadis.com/solutions/carbon, or contact EcoVadis.
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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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