A 2021 survey by BCG of 1,290 organizations worldwide finds, 85% of organizations are concerned about reducing their greenhouse gas emissions. To reduce the negative impact of their operations on the environment, 96% of them had set some targets for reducing emissions. However, only 11% of them have been able to reduce their emissions in line with their goals over the past five years.
Under the enhanced transparency framework (ETF), established within the Paris agreement, an international treaty on climate change, starting 2024, countries will report transparently on actions taken and progress in climate change mitigation, adaptation measures and support provided or received. As a result, businesses must comply with expectations to track their carbon footprint more comprehensively and take concrete steps to mitigate it.
A company’s carbon footprint is the amount of GHG emissions that are released into the environment as a result of its operations. Carbon footprints for businesses are typically divided into three Scopes:
• Scope 1 covers direct emissions from business.
• Scope 2 entails indirect emissions such as electricity. These are emissions produced off-site from energy used on-site.
• Scope 3 emissions include those from other parts of the value chain.
The Greenhouse Gas Protocol establishes comprehensive global standardized frameworks to measure and manage emissions across a company’s operations and value chains. The need of the hour is a tool that can provide an accurate picture of the actual processes, activities, and resources that directly contribute to the organization’s carbon emissions. Knowing the positive or negative impact can help manage emissions intelligently through quantitative measurement parameters. After all, you can manage only what you can measure!
Measuring your carbon footprint is critical to identify carbon reduction opportunities and create a robust sustainability strategy. C-ZERO, an AI-powered application developed by Areteans, not only helps measure your company’s carbon emissions, but also provides a guided journey from monitoring to management.
It identifies end-to-end emissions produced from various journeys of the business and steers you through the capture process to monitor emissions at every stage, recommend & automate improvement initiatives, and ultimately reduce emissions.
Powered by Pega’s BPM Workflow, dynamic case management and Next-Best Action capabilities, the real value of C-ZERO lies in its power to capture emissions data from actual processes. Gathering data from specific emission points, it creates a guided path to reduce emissions.
The C-ZERO applications identify the end-to-end emissions produced from a particular journey, guiding you through the capture process to reduce emission actions using the power of dynamic case management.
Jatin Patel, Senior Vice President and Regional Head of Europe at Areteans, believes that one of the critical first steps towards carbon neutrality is accurately measuring climate impact and monitoring it regularly. “With technologies like AI and tools like C-ZERO, organizations can adopt a scientific approach to turn their climate ambitions into concrete action,” he says.
The application provides the following for you to set your carbon neutral goals:
CZERO helps with strategies to reduce carbon footprints by providing:
Given its distinct capabilities to drive a guided journey, C-ZERO has been recognized as a product that can accelerate progress towards reducing the environmental impact of organizations. It has been conferred with THE SEAL (Sustainability, Environmental Achievement & Leadership) SUSTAINABLE PRODUCT AWARD for 2022 in recognition of a product that is most innovative and impactful to ensure a sustainable future.
Companies are accelerating their climate change mandates because such action presents significant benefits. From cost savings, resilience to financial and reputation risk, talent attraction and retention to customer loyalty, transitioning to a low-carbon economy is a responsible business opportunity. But companies continue to set broad emission reduction targets that are usually arbitrary and typically conservative. A multi-pronged approach that works at a granular level is critical to realize carbon reduction targets and transition to net zero. An AI-based solution that can adapt to changing business needs and regulations, provide accurate monitoring capabilities, and drive a guided journey can put such an approach to action most optimally. Combining the power of AI and dynamic case management capabilities of Pega, C-ZERO can identify the end-to-end emissions produced from a particular journey. It can set carbon-neutrality targets and monitor carbon emissions using fully automated data feeds. Additionally, it suggests proactive methods to reduce emissions.
To know more about how C-ZERO automates carbon capture and allows you to focus on taking meaningful actions guided through a model, get in touch with us at: [email protected]. We can enable you to incorporate sustainability in your business processes, comply with the increasing regulatory demands and help you reduce your carbon footprint.