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Climate change puts pressure on businesses

 

Climate change affects businesses from multiple angles putting pressure on them to reduce their carbon footprints. 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 rate of emissions, 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.

 

carbon emissions

 

 

VERIx is an efficient way to reduce your carbon footprint while staying profitable

 

The main drivers for companies to get started with 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 solve this complex challenge. With VERIx, we can quantify, validate, and certify planned CO2 savings and decarbonisation projects. We can perform the VERIx service on single products and services, a cluster of products and services, a specific production line or all your processes depending on your projects. That means that you can create projects within your net-zero carbon emission strategy and quantify them to demonstrate your CO2 saving capabilities. 

 

How TÜV SÜD’s VERIx enables companies to master decarbonisation

 

The flexibility of VERIx allows any business to prioritize decarbonisation measures and only work on the most promising ones with the highest carbon emission reduction potential.

 

In a real-world scenario, this means that your business can reduce the carbon footprint 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. 

 

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.

 

 

 

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VERIx focuses on your internal processes and gives you complete control over CO2 savings

 

With VERIx, we empower companies to validate their decarbonisation strategies and inform 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 for carbon neutrality will positively affect all parts of the value chain.

 

That is an essential difference to lifecycle assessments and product carbon footprint calculations. 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 operations and thus offers a tremendous competitive advantage to companies. By using 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 data and competitive advantage with this information. 

 

Pascal Gaillot“VERIx offers a glimpse into the future. We start by determining your current carbon emissions. Based on that, we quantify the CO2 savings through your planned projects. Finally, you as a customer will receive an official certificate about these savings, enabling you to create a competitive advantage.” – Pascal Gaillot, Director Sales Green Production & Decarbonisation, TÜV SÜD

 

 

 

 

 

 

 

 

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. 

 

six step approach

 

 

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 we should use as the baseline for the calculation of carbon footprint reduction potential.

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

 

Then the raw data is captured, and the status quo/baseline is calculated. 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.

 

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

 

The VERIx service is based on a highly advanced data processing methodology that offers countless possibilities for customization. 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

 

Use VERIx to your advantage – start decarbonising without risk

 

The high level of customisation enables you to use VERIx for single projects, products, and services. For example, if a particular product is offering a higher ROI for decarbonisation, you can use VERIx to validate the CO2 savings for this product. Therefore, you can focus your investments for carbon emission reduction on single products while leaving others untouched. This results in low levels of risk for your decarbonisation strategy and helps you reach net-zero emissions step by step.

 

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

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