Verify your planned CO2 savings with veriX

CLIMATE CHANGE PUTS PRESSURE ON ALL industries

Climate change affects businesses from multiple angles putting pressure on them to reduce their carbon profile. The public expects companies to reduce their environmental impact and develop plans to reach net-zero emissions to limit global warming. Effects of climate change threaten investments and increase prices for insurance and adaptation measures in many regions. In addition, economic pressure is put on companies as the cost of CO₂ is rising.

THE PROBLEM OF CARBON EMISSIONS IN NUMBERS

Adding data to the above can help businesses and decision-makers understand why decarbonisation must be part of the business strategy.

CO₂ accounts for more than 74% of global greenhouse gas emissions, according to ourworldindata.org. Furthermore, energy use in industry, transport, and buildings is responsible for more than half of greenhouse gases globally. At the current emission rate, we will reach 1.5°C of global warming as early as 2034 (source: Copernicus Climate Change Service). The price for EU carbon permits has increased more than 95% between January and October 2021 and recently reached the 60 Euro threshold.

VERIX IS AN EFFICIENT verification/ validation program on your way TO REDUCE YOUR CARBON profile in the most transparent way

The main drivers for companies to execute decarbonisation strategies are usually embedded in their value chain. External and internal stakeholders like customers, investors, shareholders, suppliers, and employees expect businesses to reduce their carbon footprint and stay profitable at the same time.

We developed veriX specifically to provide transparency and trust to this complex challenge. With veriX, we can verify and validate planned CO₂ savings and decarbonisation projects. VeriX can be used for processes as well as services, a cluster of products and services. This is being done with a cradle to exit-gate approach in order not to lose comparability. Based on this, veriX can provide you the specific costs for upcoming investments: How much CO₂ could be saved per EUR of investment?

In case the future measure will have been executed as planned, this provides the basis for the potential product carbon footprint which makes veriX complementary to Product Carbon Footprint.

How TÜV SÜD’s VERIx enables companies to master decarbonisation

The flexibility of veriX supports any business to prioritize decarbonisation measures and only work on the most promising ones with the highest carbon emission reduction potential. This supports the thesis that investments into sustainability need to be profitable

In a real-world scenario, this means that your business can reduce the carbon profile for products that are affected by external and internal pressures without touching other products with less saving potential. That translates into lower risk and higher, faster ROI for your decarbonisation strategy and its implementation.  

veriX has been developed specifically for companies that want to reduce their carbon footprint in an agile, profitable, and flexible way. VeriX enables companies to verify their planned CO₂ savings immediately once the baseline is set and verified. 

VERIx focuses on your internal processes and gives you complete control & transparency over CO₂ savings... even for greendfield projects

With veriX, we empower companies to validate their decarbonisation strategies and verify and validate them about how much CO₂ they can save with specific measures. veriX focuses on a company’s internal production and operation processes which can be managed and adapted by the company without the need to reconstruct the entire supply chain. At the same time, our veriX service will positively affect all parts of the value chain.

Are you planning a greenfield project? In this case, veriX can validate the potential future emissions. This support your investment cases as well as your claim.

That is an essential difference to lifecycle assessments and product carbon footprints. These methods include all upstream activities (e.g., raw materials and tools) and all downstream activities (e.g., product usage and recycling).

Life cycle assessments are a good way to understand emissions from a product lifecycle management perspective and provide data to partners in the value chain.

However, lifecycle assessments and product carbon footprint can be manipulated by making adaptions to the supply chain without changing the internal production and operation processes.

veriX focuses on these internal local operations and thus offers a tremendous competitive advantage to companies. By using the information gained through the application of veriX, a company can prove the potential for decarbonisation within the internal processes and business strategy. Companies can negotiate new partnerships, assignments, and investments based on verified/ validated data and competitive advantage with this information. 

“veriX offers a transparent look into the future and a valuation of the measures for the journey to get there. We start by verifying your current CO₂ emissions. Based on this, we validate the CO₂ savings from your planned projects. Finally, as a client, you receive an official statement of confirmity of these savings, which gives you a competitive advantage.” – Thore Lapp, Executive Vice President Green Energy and Sustainability, TÜV SÜD AG

How VERIx helps you to verify your planned CO₂ savings in six simple steps

Our veriX service consists of a 6-step approach, as shown in the graphic below. 

The starting point for our work is to understand your specific objectives. In this step, you as the client can specify if you want to reduce emissions for one, multiple, or all your products or services.

You can also define which year should be used as the baseline for the calculation of carbon footprint reduction potential or go for a validation statement for greenfield projects.

In the next step, we define the data we will need to verify and validate (based on ISO 17029 and related standards like ISO 14040, ISO 14044, ISO 14064, ISO 14067, ISO 22095 and more).

Afterwards the raw data is captured, and the status quo/baseline is calculated by the client. Based on this data, we will perform a plausibility check for processes and a completeness check of material and energy flows.

In the validation step, we process the emission data and confirm the CO₂ savings planned in your strategy. As a result, you will receive a statement of conformity and inspection report, which you can use as proof for planned CO₂ emission reduction. In order to assure the execution of decarbonisation projects, we will perform reality check respective audit

Ideally, after realising the decarbonisation strategy, you start back at step one to create a new baseline and define further measures to reduce carbon emissions.

VERIx – the x stands for your company

veriX is based on a highly advanced data processing methodology that offers possibilities for customisation. This flexibility enables us to verify planned carbon footprint reductions across nearly any industry and product or service. veriX is already successfully in:

• VERIsteel – proving CO₂ reductions in steel production
• VERIglass – demonstrating CO₂ savings for glass production
• VERIchem – verifying CO₂ savings in chemical plants
• VERIcast – quantifying carbon reduction in cast processes
• VERIpharm – certifying decarbonisation projects in the pharma industry
• VERIaluminium – proving planned carbon savings in aluminium production
• VERIcement – verifying CO₂ emission reduction for cement production
• VERIrecycle – certifying CO₂ emission savings in recycling processes
• VERIretail – certifying carbon emission savings in the retail industry
• veriX – make the x your own and part of your net zero-emission strategy

Verify your planned CO₂ savings already today – contact us here.