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CarbonChain unveils new emissions reporting solution for mandatory and voluntary disclosure, advancing its specialist carbon accounting platform for commodity supply chains.
LONDON, April 10, 2024 /PRNewswire/ -- CarbonChain – an AI-empowered carbon accounting platform that provides companies with end-to-end visibility into supply chain emissions – announces the launch of CarbonChain Comply, a major platform update that takes carbon reporting to the next level of speed and ease.
CarbonChain Comply offers a comprehensive solution for businesses within metals and energy supply chains who are grappling with monumental regulatory shifts on carbon emissions and rising stakeholder demand for transparent and accurate disclosure.
The new one-stop shop for carbon reporting empowers sustainability leaders, compliance managers and procurement directors to streamline and satisfy every key disclosure request, no matter the format or framework.
Adam Hearne, CEO and Co-founder of CarbonChain, said:
"Manufacturers and traders are overwhelmed by the complex landscape of carbon reporting, and the inconsistencies across frameworks and requirements. The industries that face some of the biggest challenges from carbon disclosure don't have enough clarity on how and what to report.
We're changing that today. With CarbonChain Comply, our customers will know exactly what's expected of them — and be able to do it with confidence."
CarbonChain Comply is part of the London-headquartered company's Spring 2024 Product Release and includes three major updates:
Carbon Reporting Hub:
With a new centralized hub, CarbonChain users can auto-generate gold-standard product carbon footprints and corporate emissions reports aligned with the Greenhouse Gas Protocol. This includes Scope 1-3 corporate carbon footprints using a methodology independently validated by SGS. The new streamlined solution enables companies to report with ease and confidence for regulations like EU CSRD and UK SECR as well as voluntary frameworks like CDP.
CBAM Compliance:
CarbonChain Comply introduces tailored features for importers of aluminum, steel, iron, and fertilizers who are impacted by the European Union Carbon Border Adjustment Mechanism (EU CBAM), including customs declaration validation and automated XML file generation.
Supplier Engagement Module:
CarbonChain users can now easily exchange data with suppliers to support product lifecycle and Scope 3 emissions calculations, crucial for CBAM compliance and broader sustainability reporting.
CarbonChain's new reporting features are powered by its robust carbon accounting platform. Unlike 'one size fits all' solutions, CarbonChain is purpose-built for energy and metals supply chains, and generates a complete picture of emissions from the transaction level using activity-based emission factors.
Notes for Editors:
About CarbonChain
CarbonChain empowers companies to make climate-conscious decisions to accelerate action toward a net-zero economy. Its AI-empowered carbon accounting platform automates emissions tracking with accurate, asset-level data for carbon-intensive supply chains. CarbonChain uses a validated and verified methodology, is a CDP-accredited solutions provider and a proud member of ResponsibleSteel, Aluminium Stewardship Initiative, Minor Metals Trade Association and the Aluminium Federation. In 2023, CarbonChain raised $10M to support its ongoing expansion of carbon footprint technology, with a primary focus on scope 3 and supply chain emissions. www.carbonchain.com
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