Calculating carbon emissions is no longer just an altruistic measure. Companies who do not measure and report on their emissions risk regulatory infractions, the loss of large channel partners and the loss of customers.
Outlined below are some examples that CarbonGraph customers have been communicating as the reasons why they are measuring their product carbon footprints:
In some countries and regions, companies are required by law to report on their carbon emissions and set targets for reducing them. Calculating the carbon footprint of their products helps companies comply with these regulations and avoid potential penalties.
50%+ of the fortune 500 have pledged to net neutrality by 2050. To reach net zero, all suppliers of a company must also be net zero. Large corporations such as Walmart, Unilever and Aramark are already beginning to require that their channel partners disclose their emissions. This means that even companies that haven’t pledged net zero will be required to start tracking and reducing emissions, or risk losing key channel partners.
Consumers are becoming increasingly concerned about the environmental impact of the products they buy, and are demanding more environmentally-friendly options. Companies that calculate their product carbon footprints and take steps to reduce emissions can respond to this demand and differentiate themselves from their competitors.
Calculating the carbon footprint of products helps companies understand the environmental impact of their supply chain and identify opportunities for reducing emissions in the supply chain. This can lead to better collaboration with suppliers and a more sustainable supply chain.
Calculating the carbon footprint of their products provides companies with valuable insights into the environmental impact of their operations. This information can help companies identify opportunities for improving their processes, reducing waste, and increasing efficiency, which can lead to cost savings and increased competitiveness.
Calculating the carbon footprint of their products helps companies understand their impact on the environment and identify areas where they can reduce emissions. By taking responsibility for their emissions, companies can demonstrate their commitment to sustainability and the environment, which can increase their reputation and credibility with customers and stakeholders.
Ultimately, companies calculate their product carbon footprints to meet their environmental responsibilities, comply with regulations, improve operations, better understand their supply chain, and respond to customer demand. By taking these steps, companies can demonstrate their commitment to sustainability and help create a more sustainable future for all.