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November 26, 2019

Is Your Organization Prepared for a Carbon-Neutral Economy?

A green bush with CO2 cut into the leaves.In a recent blog post from Verdantix "Plan For Your Next Generation GHG Emissions Management System In 2020," Verdantix explores how the landscape around greenhouse gas (GHG) is shifting. Ten or 15 years ago, companies collected GHG data for relatively straightforward sustainability disclosures. Now companies face an economic imperative to learn how to operate profitably in an economy where investors expect organizations to prepare for a carbon-neutral economy.

 

We are thankful that Verdantix is thinking and talking with global organizations about the future of EHS information management systems. As a leader in the Verdantix Green Quadrant, we would like to add some our views on the market, market drivers, customer needs, and future of EHS information management systems that include greenhouse gas monitoring.

 

Verdantix notes that many early systems created to collect emissions data “were not built to handle the far more complex task of reducing emissions or providing insight into how emissions could be reduced. New platforms need analytics and potentially engineering controls to cut GHG emissions similar to air emissions.”

 

At Enviance, when we began building our leading EHS software, we had the foresight to launch as a true cloud-based, SaaS solution with a sustainable and configurable foundation that has positioned us to handle both technology changes and market changes. As Verdantix notes, “very few firms have the ability to produce accurate worldwide emissions data within 90 days,” and we are happy to say that Enviance customers are among those organizations that have reliable emissions data anytime they need it. Our customers use Enviance to gather insights that prepare them for analyzing trends and acting on them in real time.

 

We see a growing trend toward using environmental data as a competitive differentiator. In a recent NAEM survey, 65 percent of respondents indicated that they have adopted a science-based carbon reduction target or plan to do so. As a result of expanded consumer and shareholder awareness, we are seeing a shift in how organizations handle and store environmental data.

 

Gone are the days when manual processes and spreadsheets with aggregations divorced from source data were adequate. As companies grapple with meeting shareholder and consumer demands for improved sustainability and environmental performance as we work toward a carbon-neutral economy, the value of environmental data has skyrocketed, and it must be treated as securely and responsibly as financial and accounting data is.

 

How Cloud-Based Software Supports a Carbon-Neutral Economy

Because Enviance has always been in the cloud, our system was designed with a laser focus on safe and secure bidirectional cloud integration that keeps data management costs low and ensures reliable, high-quality data. Our customers use our robust APIs to transfer data into Enviance where the software completes complex computations in order to support the required outputs, including performance dashboards that provide a regular view into environmental performance and regulatory reports that help organizations meet their compliance obligations.

 

GHG Data Flow

 

We see our role as the environmental accounting system to process measures and modeled emissions information that always come from multiple systems. EHS software must follow the evolving compliance and GHG protocol accounting and reporting principals of relevance, completeness, consistency, transparency, and accuracy.   

 

When it comes to air programs and GHG in particular, the Enviance Management System is designed to manage information from both direct emissions measurements and modeled emissions to meet emissions reporting needs. The foundational premise of our software is that information from equipment, plant operations, materials use, and energy consumption would be needed to support compliance, operational performance, and stakeholder reporting. This includes the support needed to adapt to future requirements we cannot yet see, given needs and relevant questions are expected to change over time. 

 

Our vision for the future is to adapt to the changing input and outputs required by our customers who need to use emissions data to meet regulatory reporting needs. Our customers also use that same data to provide management with the necessary data to support strategy, business growth questions, performance, sustainability, and assure the information processed with our application is easily traceable and accessible to address current and future stakeholder questions. Data transparency will play a critical role.

 

We are proud to assist our customers in unlocking information previously trapped in source systems, performing robust calculations, generating reports with ease, and monitoring trends with real-time analytics. Find out why we were named a leader in the September 2019 EHS Software Benchmark: Environmental Compliance by Verdantix. Let us know if you would like to learn more about how Enviance can help you support your goals around reducing carbon emissions, and we can set up a free demo

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