Commercial, Energy Efficiency, GHG Emissions - October 6, 2023
Economist Impact, Infosys Launch Scope 3 Emissions Navigator
Infosys, a global digital services and consulting company, and Economist Impact, an arm of The Economist Group that works with organizations globally, announced the launch of the Value Chain Navigator (VCN) to help businesses manage their Scope 3 emissions.
The VCN is an open digital platform that helps businesses understand the complex nature of their Scope 3 emissions through interactive tracking, tools and tailored recommendations. The tool will be featured on The Sustainability Project, the award-winning content and community platform created by Economist Impact and built by Infosys to advance sustainable solutions and drive world-changing impact through a new business-to-business model.
Up to 95% of a business's carbon footprint consists of Scope 3 emissions, but only a quarter of businesses account for them in their net zero plans.
Companies can use the platform to explore Scope 3 emissions data across seven different business activity levers as defined by the Science Based Targets Initiative (SBTi), including supplier engagement, product and service design, and investment strategy.
They can also find out how companies globally are tackling Scope 3 emissions through a global survey of 1,250 companies and receive personalized recommendations for reducing Scope 3 emissions through a self-assessment tool that asks about business specific challenges and opportunities.
According to the VCN survey, only 53% of companies are currently collecting and monitoring their Scope 3 emissions data.
Tech innovations can help businesses monitor, manage and reduce emissions in their upstream and downstream value chains. The research showed that companies are least likely to focus on engaging suppliers but most likely to engage with customers to reduce their Scope 3 emissions.
“The Value Chain Navigator will be pivotal in driving collaborative action at scale to tackle Scope 3 emissions, supporting businesses along their value chains to reduce their carbon footprint,” Ashiss Kumar Dash, EVP & Global Head - Services, Utilities, Resources and Energy at Infosys, said in a statement. “With this solution, we further strengthen the tools delivered through The Sustainability Project to empower stakeholders to navigate a changing landscape through data and insights and chart their course for a better future.”
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