Best Carbon Accounting Software (2024) for carbon accounting fit

The push towards reaching net-zero emissions is more important than it has ever been in spite of the rapid evolution of the global economy in the present day. Relying entirely on manual carbon accounting procedures is simply not a viable option for firms that are engaged in the pursuit of maintaining a competitive advantage in this environment. Companies are finding themselves driven to use digital carbon accounting systems in order to assure precision and trustworthiness in measuring and presenting their sustainability performance data. This is because sustainability is becoming a key priority in the midst of expanding threats and possibilities.

Even while the significance of collecting, measuring, tracking, and reporting emissions is becoming more widely acknowledged on a global scale, a significant number of firms have not yet taken advantage of the strategic advantages that may be gained by utilising an effective carbon accounting and decarbonisation platform.

By adopting digital solutions that are specifically designed to meet the requirements of carbon accounting, businesses have the power to streamline their sustainability efforts, pave the road towards a more environmentally friendly future, and maintain their competitiveness in the current market.

What is carbon accounting software?

Carbon accounting software is made to help businesses keep track of and measure their carbon pollution. Companies can correctly track their emissions data and gather the information they need to start planning ways to reduce or get rid of their carbon emissions if they use the right accounting software. is another word for decarbonisation. To give carbon accounting software some background, we need to make a distinction between a carbon accounting solution and an ESG (Environmental, Social, and Governance) solution.

Best Carbon Accounting Software Comparison Table

Carbon tracking has been hard to understand and take a lot of time. Still, reporting carbon has become harder and more time-consuming over time because of the amount of detail, data collection, and different types of emissions that need to be taken into account. It used to be enough to have Scope 1 and 2 pollution. Those are now the stakes. Full, 15-category scope The new standard is to figure out pollution three times.

Best Carbon Accounting Software

Carbon accounting is the practice of calculating and assessing a business‘s GHG emissions, whether they are direct, purchased, or indirect. Similar to financial accounting, but with an emphasis on greenhouse gas emissions and their origins (both direct and indirect) rather than on monetary value, this method seeks to quantify the impact on global warming.

Persefoni

For businesses that wish to monitor, comprehend, and discuss their effect on the environment, Persefoni stands out as a reliable associate. Their software streamlines carbon accounting and sustainability reporting to satisfy both internal objectives and external mandates.

The ease of use is the feature that I appreciate most about Persefoni. Thanks to its user-friendly design, even complex data is easily navigable. Plus, it integrates seamlessly with other banking systems, making the transition to greener practices a breeze.

Microsoft Sustainability Cloud

The Microsoft Sustainability Cloud, on the other hand, relies on Microsoft’s wide range of skills to provide a strong set of tools in the cloud. In addition to carbon tracking, it looks at important issues like how much water is used, how waste is handled, and how sustainable the supply chain is.

What makes it unique is how well it works with other Microsoft products. This creates a unified environment for sustainability management that makes teams more productive and helps them work together better.

Sphera

Sphera, which manages data on environmental, social, and governance (ESG) issues, becomes the best choice for companies that do business all over the world. Its complete platform not only makes carbon accounting easier, but it also helps meet the standards of a wide range of sustainability frameworks. Sphera is known for having advanced features and being able to grow, which makes it a great choice for businesses that need to deal with complicated regulations while also trying to be as environmentally friendly as possible.

Normative

The way Normative presents itself is as a carbon tracking engine. It’s new cloud-based software that can help businesses of all sizes standardise and automate their carbon accounting processes by giving them useful information like GHG and environmental hotspot research. Since it’s still pretty new, it might not have all the features that carbon tracking software that has been around longer can offer. Similarly, some users say that pages take a long time to load.

Greenly

Greenly, on the other hand, stands out as an easy-to-use choice that can help businesses of all sizes with their carbon accounting. Its automation features make it easier to get data from many sources, giving you real-time information about carbon footprints without having to enter it by hand. What interests me most about Greenly is how it focuses on making sustainability management more accessible and affordable, so that a wider range of businesses can take part in real environmental care.

Benefits of Using Carbon Accounting Software

Carbon accounting software helps organizations control greenhouse gas (GHG) emissions and improve sustainability:

1. Carbon accounting software automates the collection, calculation, and reporting of GHG emissions data from multiple sources inside an organization. By using complex algorithms and emission factors, the software accurately measures and tracks emissions, reducing manual calculation errors.
2. Comprehensive Data Management: Carbon accounting software centralises emissions data from energy usage, transportation, waste generation, and supply chain activities. The software gives companies a complete picture of their carbon footprint by tracking emissions across categories.
3. Carbon accounting software allows organizations to track their environmental performance in real time by monitoring emissions data. The software offers customizable data and dashboards on emissions trends, patterns, and hotspots to aid decision-making and emission reduction.
4. Carbon accounting software helps organizations meet GHG emissions reporting and disclosure standards. The software automates emissions inventories and compliance reporting for regulatory bodies, ensuring emission reduction targets and criteria are met.
5. Carbon accounting software streamlines the carbon accounting process and automates human operations, saving time and resources for emissions reporting and management. By reducing manual data input, spreadsheet computations, and repetitive administrative procedures, organizations can save money, boost efficiency, and boost productivity.
6. Scenario Analysis and Forecasting: Carbon accounting software lets companies evaluate emission reduction plans and activities. Organizations can assess emission reduction initiatives’ cost-effectiveness, identify areas for improvement, and set realistic targets by modelling different scenarios and interventions.
7. Carbon accounting software enables transparent and accountable carbon data reporting to investors, consumers, employees, and communities, demonstrating sustainable success. Standards-compliant reports and disclosures are generated by the program for international reporting frameworks including the Greenhouse Gas Protocol and CDP.
8. Continuous Improvement: Carbon accounting software helps organizations improve environmental performance by revealing emissions trends, standards, and best practices. Organizations can target actions, track progress, and reduce GHG emissions by analysing emissions data and identifying areas for improvement.

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