Sustaincert Launches Innovative Solution for Accurate Verification, Tracking and Co-claiming of GHG Scope 3 Emission Reductions

LUXEMBOURG, May 31, 2023 /PRNewswire/ -- SustainCERT, a global leader in climate impact verification, has launched a pioneering platform that will accurately verify and track the decarbonization impact of Scope 3 (value chain) projects.

A world first, this platform of software and services combines climate and environmental accounting expertise with industry leading technology to accurately verify, track and co-claim emission reductions and removals from a value chain project (also known as 'an intervention'). This concept will allow companies to co-invest in reductions and removals in their supply chains, share costs of decarbonization and scale action faster.

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This solution will help companies tackle the largest source of their carbon footprint - value chain or Scope 3 Greenhouse Gas (GHG) emissions. These account for 75% of a company's carbon footprint on average (rising to as much as 99% for some sectors). The lack of clear guidance and rules around claiming, the complexities of many supply chains and the challenge of collecting on-the-ground data are some of the issues preventing the acceleration of value chain decarbonization to date.

The platform provides companies with the ability to account and claim GHG impact from interventions in their value chain. It also enables the transfer of GHG impacts – verified by SustainCERT's auditors – between supply chain partners and other eligible entities. This allows 'co-claiming' of shared Scope 3 intervention outcomes, which when verified can be used to show progress towards reporting a company's Science-Based Target Initiative commitments.

To provide transparency, information on the intervention is available on a public database that provides details on validated and verified projects as well as information on impacts that have been claimed from those projects.

Marion Verles, CEO of SustainCERT said:

"We need significant progress in Scope 3 action to address emissions to reduce global warming as called for in the Paris Agreement. Substantial scaling of market and policy mechanisms that incentivize decarbonization – and collaboration between market players - is key. The regulations to drive Scope 3 action are increasing – but we need scalable action now."

"We have been committed to bringing credibility to climate action since 2018, and we are excited to offer corporations the ability to be recognized for their co-investments in the same value chain decarbonization program, while maintaining environmental integrity and ensuring the intervention impact reporting is accurate, credible, and representative of on-the-ground impact."

"We believe this will be a game changer in Scope 3 action and we look forward to working with companies to credibly scale their value chain climate impact action."

SustainCERT has been innovating digital verification solutions for value chains and carbon markets since its inception and this new offer builds on its established Scope 3 services. SustainCERT supports corporates pursuing Scope 3 impact verification and its emission factor software accounts and tracks the impacts from climate action.

It also builds on leading guidance from the Value Change Initiative, a multi-stakeholder forum that brings together some of the world's largest companies, leading civil society actors and internationally recognized frameworks to collectively focus on defining best practice for Scope 3 emission reductions at scale.

About SustainCERT

SustainCERT is a climate impact verifier, bringing credibility to climate action. Our offer combines established independent climate expertise with innovative, cutting-edge digital verification solutions.

We provide impact validation and verification services for carbon markets and value chains. Founded as an independent standalone organisation in 2018 by Gold Standard, SustainCERT's approach aligns with and contributes to leading international sustainability frameworks – including the Greenhouse Gas Protocol, the UN Sustainable Development Goals, Gold Standard and Science Based Targets Initiative (SBTi).

In 2023 SustainCERT is launching the world's first software platform for digital verification and management of climate claims across carbon markets and value chains. Verifying against globally recognized standards, the digitization of this process will accelerate the speed, accuracy and quality of data measurement used for carbon credits and GHG impacts.

SustainCERT is also the co-founder of the Value Change Initiative, a multi-stakeholder forum bringing together some of the world's largest companies, leading civil society actors and internationally recognized frameworks to collectively focus on defining best practice for Scope 3 emission reductions at scale.

www.sustain-cert.com

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SOURCE SustainCERT