Software technology has proven to be a powerful enabler and we at ClimateMiles started to look at it through that lens. We proposed a multiplier solution to WRI-India and they took to the idea and were excited to see its potential. So we built a software called Futureproof, commissioned by WRI we built it in record time.
The Fuftureproof Software
The software, built by Climate Miles, has a user-friendly interface, is accompanied by basic training manual, and is equipped to hold, aggregate and analyse Scope 1 and Scope 2 data from all the vendors of a reporting company.
However, by itself, a software falls short of achieving the goal of facilitating the inventorying of Scope 3 emissions by companies: while it does act as a receptacle and aggregator of emissions data and an analytical engine, it is still upto the vendor company to enter their data into the software. As mentioned above, the larger vendor companies still cannot be bothered to do this extra task, and the smaller companies are now even more suspicious of giving up data to a cloud-based application. Expectedly, Futureproof had few takers in the first year of its release.
The Climate Miles Facilitated Model for Scope 3 Assessment Services: The Indusind Bank Ltd. (IBL) Case Study
Like many progressive and responsible companies, IBL has been doing its Scope 1 and Scope 2 emissions inventory, but had made only limited headway in estimating emissions along its value chain. When presented with the offer of the Climate Miles Facilitated Model for Scope 3 Assessment Services, IBL decided to do a pilot project with a single vendor.
This vendor, a large manufacturer of electronic hardware and software services, is the manufacturer of roughly 80% assets bought by IBL in the category “Electronic Hardware”. This vendor does make detailed disclosures of its emissions profile in the public domain, but data extraction is complicated by the fact that differentiation is not made between the various Divisions of the vendor company.
Climate Miles used benchmarking and modeling methods to estimate the vendor’s emissions that should be attributed to IBL. The entire process was designed in consultation with IGHGP and complete transparency was maintained with IBL.
At the end of the pilot phase, IBL, satisfied both with the quality of its interaction with the Climate Miles research team, and the value of the service provided, decided to scale up the project to include 100% of its vendors.
IBL’s vendor profile includes large, small and medium-sized vendors. For large vendors of the type encountered in the pilot project, most of the data is expected to be based on secondary research and analysis. From the several medium and small-sized vendors, primary data will be collected within a defined time-frame, and the gaps will be filled up through benchmarking methods.
Data gathered from the project will be entered into Futureproof and will be available to the other IGHG member companies.
While this is a positive beginning, the true power of the shared-value approach is yet to be manifested. This will happen only when other IGHGP member companies, and indeed any other company, sign up for the Facilitated Model for Scope 3 Assessment Services, thereby bringing the emissions data of more vendors, small and large, onto a common platform, ready to be accessed by all, dramatically reducing the cost and effort of Scope 3 inventory.
or a demo of Futureproof click on the link below: