Tell us about Emitwise
Emitwise is a carbon accounting platform supporting companies with complex operations and supply chains to account for and lower their emissions. Using machine learning technology, we automate the resource-intensive carbon management process while helping companies increase the granularity of their carbon accounts with primary emissions data from their supply chain.
We believe businesses should account for carbon with the same rigour as financial management to empower realistic decarbonisation decision-making.
What do you think makes Emitwise unique?
Supply chain management is an area that still lacks comprehensive understanding, and we are uniquely positioned in the market to address this fundamental need.
The urgency of the climate crisis means sustainability regulations and guidelines are only becoming more stringent. Many of the initiatives and targets that were once considered a ‘nice to have’ are now imperative, which requires the ability to access carbon data and information to understand the real impact a business has on the environment.
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How has Emitwise evolved over the last couple of years?
Emitwise was co-founded in 2019, and over the past five years, our product has experienced significant scaling. The last few years have seen our in-house carbon accounting experts training our machine learning platform to classify and best select emission factors to lower calculation uncertainty.
In June 2023, we also launched Procurewise, an innovative supply chain emissions management platform designed to empower the world’s largest companies to reduce their carbon footprint in partnership with their key suppliers.
While addressing scope 3 emissions is not currently mandatory in all markets globally, businesses should prioritise this category due to its significant contribution – often 11 times or more – to their overall carbon footprints. Regulation such as the Corporate Sustainability Reporting Directive (CSRD) will also make scope 3 reporting mandatory soon, which should increase pressure on businesses to take proactive steps in the now.
What can we hope to see Emitwise in the future?
The journey to net zero emissions requires ongoing innovation and we acknowledge the work that still needs to be done.
Emitwise will continue to grow and work with more businesses that share our commitment to addressing climate change. For us, part of this journey includes advocating for mandatory scope 3 reporting; increasing awareness of its importance and engaging with key stakeholders in the climate change conversation will be vital to making an impact.
We are encouraged by industry frameworks such as the CSRD and bodies like the International Sustainability Standards Board (ISSB), which aim to streamline and simplify the carbon management process.
