Carbon Emissions Insights Tool Will Guide Businesses Toward Net Zero
- Normative releases data showing how polluting businesses measure up
- Startup sets new standard in carbon accounting, automates emission calculations and guides companies to net zero
Stockholm, Normative, the world’s first carbon accounting engine, has unveiled an emissions insights tool that will help guide SMEs committed to net zero.
Companies generate the vast majority of global carbon emissions but have struggled to properly track and reduce their greenhouse gas emissions. The IPCC’s recent report outlined how rapidly the world is heating up due to human activity and the role our carbon dioxide emissions are playing in that rise.
With grant funding from Google.org and technical support from a team Google.org Fellows, Normative has developed the Industry CO₂ Insights tool available through the UN-backed SME Climate Hub.
Normative sets a new standard in scientific accuracy for emissions accountancy, powered by its market-leading emissions database. The company, headquartered in Stockholm, has hundreds of customers, and partners with leading climate change organisations including the UN to deliver actionable sustainability intelligence.
Normative is the software provider for the SME Climate Hub, through which thousands of companies globally have already committed to net zero. The SME Climate Hub’s library of resources provides small and medium sized businesses with a one-stop-shop to make a climate commitment and access best-in-class tools and resources to mitigate their environmental impact and build resilient businesses for the future.
Now, SMEs committed to reaching net zero before 2050 can access the new tool to work out what their sector’s average emissions are. The tool indicates in which areas of their business they may need to take action to reduce emissions and gives them insight into the estimated average greenhouse gas emissions produced by similar companies in the same sector, and country.
Industry CO₂ Insights displays average emissions for companies in a wide variety of industry sectors. The data reveals that, globally, SMEs are heavily dependent on fossil fuel energy for their operations. It shows that a swift and universal transition to renewable energy is the single best step companies can take, potentially reducing their overall emissions by up to 50%.
Kristian Rönn, Normative co-founder and CEO said: “Energy, chemicals manufacturing, heavy industry and machinery manufacturing are some of the worst emitting industries. The closer an organization is to raw material extraction and processing, or the higher your energy requirements are, the higher emitting your sector.
“A reduction in direct emissions resulting from fossil fuel combustion in the energy, chemicals and heavy industry sectors will bring down scope 2 and 3 emissions across the whole economy. System-wide change is required, all organisations must take ownership of their indirect emissions in Scope 2 and 3 as this is the only way that the carbon lock-in can be overcome.”
Normative aims to standardize the otherwise inconsistent, expensive, and people-intensive process of carbon accounting. The release of the insights tool is the first step in releasing a free accounting software that automates emission calculations and provides insights and guidance to companies on how to reach net zero.
Kristian Rönn, who is speaking at COP26 in Glasgow, said business leaders have to grasp the historic opportunity now to measure and take action to reduce their carbon footprint.
“If we want to slow down global warming fast enough to keep the world safe, we must start comparing apples to apples so that investors, employees, consumers, and regulators can keep companies accountable for their true emissions,” he said.
“These insights allow SMEs to compare themselves against their sectors and to begin the journey to net zero. We are excited to be able to put our unique database to good use, and there is much more to come,” he added. “We are in a climate emergency and we must all take action, real action.”
A survey of 194 SMEs committed to the SME Climate Hub found that 96% wanted to reduce their emissions because “it is the right thing to do.” But 9 out of 10 SMEs who said emissions reduction was a “very high priority” don’t measure their emissions or have an emissions reduction plan.
Normative is the emissions accounting provider for the SME Climate Hub, a part of the United Nations Race to Zero campaign, which aims to drive change to a decarbonized economy. Normative is rolling out a free starter plan in collaboration with Google.org to provide businesses of all sizes with access to accurate carbon accounting tools.
“With Google.org grant funding and six months of pro bono technical support from Google.org Fellows, we are making a substantial investment in the technologies that will be crucial to tackling climate problems,” says Jen Carter, Head of Technology & Volunteering at Google.org. “The Normative’s Industry CO₂ Insights is doing just that.”
Commit to net zero and access your industry CO2 insights here.
Normative is the world’s first carbon accounting engine, helping businesses calculate their entire climate footprint and reduce their greenhouse gas emissions. Co-founded in 2014 by Kristian Rönn to accelerate the transition to Net Zero, Normative sets a new standard in scientific accuracy for emissions accounting, powered by its market-leading emissions database. The company, headquartered in Stockholm, has hundreds of customers, and partners with leading climate change organisations including the UN, to deliver actionable sustainability intelligence. Normative is also the foundational software provider for the UN’s SME Climate Hub through which thousands of small businesses have committed to net zero.