Energy Efficiency, GHG Emissions, Industrial  -  August 15, 2022

Sumitomo Mitsui Collaborates on Decarbonizing Platform 

Sumitomo Mitsui Banking Corporation, Persefoni AI, and IBM Japan announced that they have entered into a strategic collaboration that will enable customers to analyze and support their global carbon footprint management.

The collaboration will provide Persefoni's Climate Management and Accounting Platform, IBM Japan's systems integration experience and SMBC's leadership position to high-profile companies throughout Japan, according to a statement.

Since April, some Tokyo Stock Exchange-listed companies have been required to disclose information substantially in line with the Task Force on Climate-Related Financial Information Disclosure (TCFD).

The TCFD requires the calculation of direct GHG emissions from the combustion of fuel by the business itself as defined in Scope 1, indirect emissions from the use of energy supplied by other companies as defined in Scope 2 and the fifteen upstream and downstream supply chain categories defined as Scope 3 requires a large amount of data collection, sophisticated calculations and formulas.