Normative, a 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 Fellows, Normative has developed the Industry CO₂ Insights tool available through the UN-backed SME Climate Hub.
Normative sets a standard in scientific accuracy for emissions accountancy.
The company has hundreds of customers and partners with leading climate change organizations including the UN to deliver actionable sustainability intelligence.
Normative leads charge of net-zero
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.
Small and Medium Enterprises that are committed to reaching net-zero before 2050 can now 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 shows emissions for companies in a variety of industry sectors. The data reveals that 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%.
Normative’s position on green energy
Kristian Rönn, Normative’s Co-Founder and Chief Executive Officer offered insights.
“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 indirect emissions resulting from fossil fuel combustion in the energy, chemicals and heavy industry sectors will bring down scope 2 and 3 emissions in the economy.”
“System-wide change is required, all organizations 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.”
It will standardize the inconsistent, expensive and people-intensive carbon accounting.
The release of the tool is the first step in releasing a free accounting software to automate emission calculations, give insights and guidance to companies on reaching net zero.
Kristian Rönn, who spoke at COP26 in Glasgow, said that 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, we must start comparing apples to apples so that investors, employees, consumers and regulators can keep companies accountable.”
“The insights allow SMEs to compare against their sectors and 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. We are in a climate emergency and we must all take action, real action.”
Despite urges to commit, SMEs not fully cooperative
A survey of 194 SMEs committed to the SME Climate Hub found that 96% want to reduce their emissions because it is the right thing to do, but 9 out of 10 who said emissions reduction is 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.
Jen Carter, the Head of Technology & Volunteering at Google.org. is buoyant.
“With grant funding and pro bono technical support from Google.org Fellows, we are making a substantial investment in the technologies that are crucial to tackling climate issues.”
“The Normative’s Industry CO₂ Insights is doing just that.”
Normative is the world’s first carbon accounting engine, helping businesses calculate their entire climate footprint and reduce their greenhouse gas emissions.
Co-founded by Kristian Rönn to accelerate the transition to Net Zero, Normative sets a standard in scientific accuracy for emissions accounting with its leading emissions database.
The company, headquartered in Stockholm, has hundreds of customers and partners with climate change organizations like 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.