Carbon Services
Carbon services involve overall strategies in managing, measuring and analyzing the carbon footprint of a company or product throughout its lifecycle, from raw materials to disposal. This includes assessing emissions associated with energy use, transportation, production, and waste management.
This can help companies understand their environmental impact and identify opportunities to reduce greenhouse gas emissions and mitigate climate change risks. It can also help companies to comply with carbon regulations and reporting requirements, and to demonstrate their commitment to sustainability and responsible business practices.
It is increasingly important as more investors and customers prioritize climate change and sustainability in their decision-making processes. Companies that effectively measure and manage their carbon footprint can gain a competitive advantage by reducing costs, enhancing reputation, and meeting stakeholder expectations and priorities.
The Process
The first step in carbon profiling is to define the boundaries and scope of the project, including the system boundaries (what is included and excluded from the analysis), the data sources, and the time period covered.
The next step is to collect data on energy use, transportation, production, and waste management from relevant sources, such as energy bills, invoices, or production logs. The data collected should be accurate, complete, and reliable, and cover the entire lifecycle of the product or operation being analyzed.
Once the data is collected, it is used to calculate the carbon footprint of the product or operation, using standard carbon emission factors or bespoke calculations. This involves converting the data into CO2 equivalents, based on the global warming potential of each greenhouse gas.
After the carbon footprint is calculated, it is analyzed to identify the main sources of emissions and the hotspots in the lifecycle of the product or operation. This analysis can help identify opportunities for emissions reduction, such as improving energy efficiency, switching to renewable energy sources, or reducing waste.
Finally, the results of the carbon profiling are reported to stakeholders, such as investors, customers, or regulators, using standardized or bespoke reporting frameworks. The report should be transparent, accurate, and verifiable, and should include the methodology, assumptions, and limitations of the analysis.
Scope of Services
Carbon Accounting
It is the process of measuring and reporting scope 1,2,3 greenhouse gas emissions associated with the activities of an organization, product, or service. It helps companies understand their environmental impact, manage risks, and comply with reporting requirements and regulations related to emissions.
Decarbonisation Potential
Decarbonization potential is basically how much a company, sector, or economy can cut down on its greenhouse gas emissions and move towards a low-carbon or net-zero future. It is imperative for addressing the climate crisis and demands bold and innovative measures, such as widespread adoption of renewable energy and deployment of carbon capture technologies, to achieve a sustainable future.
Climate Risk Management
Climate risk management is all about figuring out the risks and opportunities that come with climate change and then dealing with them in the best way possible. By doing this, companies can show they’re committed to being sustainable and doing their part to fight climate change.
Ready to embark on your ESG Journey!
Enterprise Grant Available for Singapore Companies
The Enterprise Sustainability Programme (ESP) supports Singapore companies, especially our SMEs, to build capabilities and capture new opportunities. The funding level is up to 70% of total ESG consultancy and training fees.
Useful Resources
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