Using carbon accounting to create value
For more than 25 years, Caliber has provided collision repair and automotive services in the US through its portfolio of brands, which includes Caliber Collision, Caliber Auto Glass, and Caliber Fleet Solutions. The company is committed to its purpose of Restoring the Rhythm of Your Life, which translates to getting drivers back on the road safely and efficiently with expert collision and auto glass repairs. Caliber leads the collision repair industry with $7.5B USD in annual revenue and more than 30,000 teammates across 1,800+ U.S. locations. Over the past decade, the company has been working to minimize its environmental impacts— developing programs for safe handling and disposal of waste, recycling used oil and coolant, and finally, using technology to reduce its carbon footprint.
In 2023, at the recommendation of its private equity sponsor, Hellman & Friedman, Caliber partnered with Persefoni to begin tracking and managing greenhouse gas (GHG) emissions. According to Caliber’s Senior Vice President, Sustainability & Social Responsibility, Eddie Hightower, Caliber wanted to find the right platform to respond to their upcoming GHG reporting mandate, given their own commitment to sustainability and a sustainable investment strategy. The team also believed that making effective emissions reductions would ultimately add value and create a competitive advantage. While influenced by H&F, Caliber is equally motivated and genuinely committed to making a positive impact on the environment, while looking out for their teammates, business partners, and communities.
Satisfying stakeholder expectations
Caliber needed to confidently establish a reliable system for tracking emissions data. It planned to disclose its emissions to investors, customers, and partners in an inaugural 2023 ESG report and ensure that its disclosure aligned with the TCFD framework, which forms the basis for many global climate reporting regulations. After evaluating several different carbon accounting platforms, Hellman & Friedman recommended Persefoni to Caliber’s sustainability team. The company is now in its second year of reporting using the platform.
A user-friendly carbon accounting tool
Caliber’s team faced a new challenge. Tasked with tracking GHG emissions for the first time, they were essentially starting from scratch and under pressure to produce an investor-grade climate disclosure in a matter of months. Persefoni’s team of climate experts helped them get oriented quickly so they could begin to calculate data from more than 1,800 repair centers across the country. Using Persefoni Advanced, the team was able to prepare its first public climate disclosure and report to CDP, the global voluntary reporting organization.
Platform, people, price
According to Hightower, three features stood out from their experience using Persefoni. First, the platform was reliable and streamlined. “It was very easy to use,” he says. Second, Persefoni’s support staff were available at every step in the process, assisting the Caliber team through a steep learning curve. “I was new to greenhouse gas emissions, and the onboarding team made it easy.” Finally, the value of the tool stood out. “I can’t underscore enough what we were getting for the price we were paying,” he says. “We see it as a very good value for our company.”
Looking ahead: engaging suppliers
Since beginning its partnership with Persefoni in 2023, Caliber has calculated 700K+emissions data points from approximately 1,800 facilities across 41 states. The company has measured over 1.6+ million metric tons of CO2e in two years, determining that 70% of its total emissions originate from Scope 3 sources. Moving forward, Caliber plans to leverage Persefoni Pro to engage its suppliers, collect comprehensive Scope 3 data, and implement targeted emissions reductions throughout its value chain.
By focusing on Scope 3 and supplier engagement, Caliber aims to reduce its overall carbon footprint. The company will continue its energy realization initiatives, which not only impact the bottom line but also enhance environmental sustainability. These efforts will improve assumptions and projections regarding GHG emissions impact, ensuring that investments in energy projects yield measurable results. Additionally, Caliber will identify new opportunities to enhance its climate impact and prepare for upcoming regulations, such as those set by California. By doing so, Caliber will further streamline reporting and assurance processes, avoiding the need for restatements and ensuring compliance.
Partnership Publications
