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.

Carbon emissions

 

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. 

 

 

 

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

 

With veriX, we empower companies to validate their decarbonisation strategies and verify and validate them about how much COthey 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. 

 

Thore Lapp

 

“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. 

 

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 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 COsavings 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 COreductions in steel production
  • VERIglass – demonstrating COsavings 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 COsavings already today – contact us here.

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