Organizations worldwide are facing increasing pressure to capture, analyze, and report their carbon data in a quantified, metrics-driven way. As regulatory requirements are tightening, there is a need for technology that supports these processes, especially as it relates to environmental issues such as greenhouse gas emissions and energy consumption.
The recent SEC proposed rule that would require public companies to include certain climate-related information is being seen as a game-changer in ESG reporting. It also stands to accelerate boards of directors and the C-suite to hone their products, processes and business models to meet this new era of transparency and disclosure.
The call to focus on climate change and track greenhouse gas emissions has never been louder. However, rules, guidelines, standards and regulations are constantly changing, including the potential new SEC reporting requirements, and companies still have siloed or missing data, making carbon accounting a daunting task — especially for Scope 3 emissions.