How Can the Chemicals Industry Capitalize on Carbon Reduction Opportunities? - Seite 3

"Footprint data is there," said Michael Sambeth, global enterprise architect at SAP. "It can be calculated using out-of-the-box solutions from SAP; now it needs to flow across the supply chain."

Catena-X led to the launch of the SAP Sustainability Data Exchange application, which was designed specifically with security in mind, to exchange standardized carbon footprint data along the value chain. SAP Sustainability Data Exchange uses the carbon data standards established by WBCSD PACT. With a high proportion of Together for Sustainability members already using SAP ERP systems, they are well placed to be able to leverage SAP Sustainability Data Exchange to exchange this data with their suppliers and customers while adhering to global standards.

Moving to a Green Ledger Approach

The chemicals industry is a product of its established supply chains, high-volume activities, cost efficiencies, and scalability. It is highly organized and well versed in creating and following methodologies, but it needs to see the value in primary standardized data - and data sharing - for decarbonization.

A green ledger approach will allow businesses to treat their emissions in the same way as their financials. Carbon accounting makes emission "bookings" part of every business transaction in the same way as financial information. This means that a level of detail and confidence is achieved, allowing companies to look at emissions from any angle - by product, organization, profit center, site, factory, equipment, etc. This granularity is the foundation for planning and steering, which cannot be done using averages or highly aggregated figures.

The decarbonization of a multitude of industries hinges on the ability of the chemicals industry to successfully standardize and exchange carbon footprint data. Only those chemical companies with sustainability at the core of their strategy and the right tools for high-quality emissions accounting will be able to future-proof their business to remain competitive in the face of the ever-evolving legislative changes created to combat the effects of global warming.

For more information on how SAP helps companies record, report, and act on their sustainability goals, visit www.sap.com/sustainability.

View additional multimedia and more ESG storytelling from SAP on 3blmedia.com.

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SOURCE: SAP

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