Technology

A Need for Tech

In recent years, we’ve seen a rise in the demand for carbon accounting solutions with increased pressure from consumers, investors, and government regulators.

Effective tools are being developed. This will make carbon accounting more accessible to companies, regardless of their size and resources.

This brings us to Climate Management Accounting Platforms (also known as CMAPs).

So let's talk about CMAPs

A CMAP is a software platform that simplifies the carbon accounting process, so calculations are done in days rather than months.

These platforms utilize codified guidelines like the GHGP and PCAF to calculate carbon emissions and then deliver solutions based on organizational data.

CMAPs allow companies to track their emissions, set carbon reduction targets, measure progress, and benchmark against peers. This means organizations can gauge their emissions reduction progress over time and accurately track their progress toward science-based and net zero commitments using the latest data available.

Stakeholder pressure, government regulations, and evident cost savings have compelled organizations to decarbonize. CMAPs streamline this process and make reporting on progress easy. It allows companies to perform their enterprise resource planning for the climate with transparency and trust.

Software allows companies to automate their carbon accounting process. This means less effort and resources spent counting carbon, empowering them to create capable strategies.

Final Thoughts

Warren Buffett once said, "Accounting is the language of business."

It could be said that carbon accounting is the language of climate change.

With carbon accounting, this language becomes fluent to businesses and investors, providing them a more coherent understanding of their emissions and how to reduce them.

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If you can measure your emissions output, you can manage and reduce it. Carbon accounting helps us make the invisible become visible.

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Nice job!

You've completed the overview of carbon accounting. In the next module, we'll dive a bit deeper and cover the Greenhouse Gas Protocol.