Sumday’s view of the carbon accounting world
Thanks for letting us indulge on our virtual soap box for a moment.
In Sumday’s view, the most impactful thing a company can often do is leverage their position as a buyer or investor to improve the world. The starting point for that is leading by example and clearly sharing your expectations that those you choose to buy from or invest in to commit to real action on sustainability as well. In doing so, you actually make it easier for others to build the business case for taking this seriously and doing the real work (they do not want to lose your $ because they ignored a call for action).
Net Zero Targets and Requests for Emissions Data
The problem is, even with the best of intentions, many companies do not know where to start when it comes to carbon accounting, yet it is the very foundation on which any emission reduction strategy or net zero target is set.
Companies are asking suppliers questions like ”do you have a net zero target? Can you please get one?”. Those questions are very important, they send a clear signal. But there’s more work to be done and it comes back to education. Suppliers can’t just go and set a credible net zero target overnight (although you would be forgiven for thinking they can…)
They need to understand their emissions in the first place.
Companies are also sending forms asking for scope 1 and 2 data in an effort to fill in the picture on their own footprint.
Just imagine how many companies are going to receive 50,000 different forms asking for this information (maybe that’s an exaggeration but one form is enough right).
Sumday firmly believes the world of carbon accounting is on the cusp of change and we believe it will simply become an extension of normal accounting and reporting for all companies. Instead of answering those never ending forms, companies will perform the GHG accounting in line with the standards and share the same emission factor or inventory report with all stakeholders, updating it year on year. Let’s call it the new tax filing.
How can companies afford to do this though? Who can help them meet those standards?
Well fortunately, every company, large and small, already has a climate hero that can make that happen…sometime they’re called accountants 🦸♀️ And they’ve been doing it with financial accounting for centuries.
Sumday is the only platform that makes audit ready carbon accounting accessible to everyone. From public companies to small and medium businesses, they can and do use Sumday.
Our education first approach and total transparency makes it possible for these balance sheet warriors to just get on with it for their clients or the companies they work in.
Access to Carbon Accounting Unlocks Value
In doing so, they make carbon accounting meaningful, fast tracking reduction efforts because businesses start to understand the drives and they can rely on their trusted advisor to help them work out how they can take steps to reduce their impact based on an informed assessment of both financial and carbon returns.
When every business can get this help, we unlock the ability for companies to credibly measure progress towards net zero. Scope 3 starts to become useful, based on actuals rather than industry averages from 10 years ago with a CPI calculation applied.
Companies can begin making informed decisions based on the credible carbon impact of suppliers, rather than relying on leaf logos and the loudest voice in the marketing arena.
We’re on a mission to make this possible, leading with education, transparency and trust every step of the way.
Last updated on October 11, 2023