The words company accounting software and enterprise resource planning (ERP) software are sometimes used synonymously, however they relate to two distinct kinds of applications. Carbon accounting tools has lately begun to be mentioned alongside the aforementioned phrases, as an increasing number of businesses strive to be proactive in monitoring and reporting their greenhouse gas (GHG) emissions.
As businesses grow more conscious of their environmental effect, it has become crucial to have a method for managing and reporting carbon emissions. Companies may establish objectives for lowering emissions, assess their progress, and make educated choices about how to operate more sustainably if they do so.
More businesses are striving to achieve net-zero emissions, in which they completely offset their carbon impact. However, achieving a target of net-zero emissions needs strategic planning on the part of all businesses.
In this post, I will discuss the top carbon accounting software and emphasize its characteristics, allowing you to choose which software is the best match for your business.
What Are The Best Carbon Accounting Software?
As the carbon emissions industry expands, new solutions are continually introduced. However, the following are some of the greatest in the profession at now.
1. Sphera
Image Source: Sphera
Sphera is committed to emissions safety and risk mitigation. Its approach to carbon accounting platform is centered on assisting enterprises in establishing public confidence and projecting a favorable image about emissions. It combines reporting and data management capabilities to assist businesses in establishing safe procedures and minimizing liability.
Sphera offers customized environmental consulting services for businesses with specific environmental requirements. Sphera is an option for businesses who prioritize corporate safety and want to combine their carbon data into a single, user-friendly platform.
2. Diligent
Image Source: Diligent
Board members, organization leaders, CEOs, and government officials involved with carbon management reduction measures should be most diligent. Diligent, which was founded in 1994 in New Zealand, has operations around the United States and has been there for far longer than younger carbon software in the market.
Efforts are made to strengthen carbon governance. A unified system that combines compliance, cost savings, risk management, and auditing features enables climate leaders to develop social responsibility reports and engage with stakeholders to maintain compliance. However, depending on a company’s demands, Diligent may lack thorough carbon emissions estimates tailored for organizations with more sophisticated requirements.
3. Persefoni
Image Source: Persefoni
Solutions for carbon accounting Persefoni’s reputation as a carbon management industry leader is partly attributable to its founders’ unparalleled industry expertise. It provides accurate financial reporting and carbon accounting ai solutions to large corporations and SMEs from its headquarters in the United States.
Its advisory board is comprised of twelve prominent industry executives with extensive understanding of the present status of climate control initiatives. Persefoni intends to increase the accessibility of emissions control by providing a consistent system for sustainability reporting and data collection across all users.
As an emissions solution, it has crucial alliances with industry titans like as Bain, Workiva, CGI, and Patch. Persefoni is also scalable and resistant to manipulation. For this reason, many Fortune 500 organizations rely on it for communicating with stakeholders and disseminating vital data.
4. Net Zero Cloud by Salesforce
Image Source: Zero Cloud
Salesforce has shown an interest in carbon reduction for decades. Its Zero Cloud solution represents a move in this direction. Zero Cloud is an accessible alternative because to key Salesforce features like as language compatibility, sophisticated automation, and integration possibilities.
However, compared to more robust carbon emissions solutions, Zero Cloud may be a better choice for startups compared to other options. Its scalability may be limited, but its user-friendly dashboard is unrivaled.
5. IBM Environmental Intelligence Suite
Image Source: IBM
IBM’s acquisition of Envizi resulted in the creation of the IBM Environmental Intelligence Suite. As legacy software, IBM’s Environmental Intelligence Suite is designed to manage massive data volumes.
It delivers fundamental climate risk analyses for strategic planning using AI. For firms concerned with emissions avoidance and forecasting, IBM’s collection of emission control products may be beneficial. It makes it simple for enterprises to monitor climate change situations and respond appropriately.
What Is Carbon Accounting Software?
Carbon accounting software aids in quantifying and managing all elements of an organization’s carbon reduction initiatives. With the correct carbon management solutions, businesses can expedite the process of data collecting and get insights to make more informed choices.
However, the sector for carbon accounting software is still in its infancy. Therefore, it is essential to emphasize that “carbon” is used as an umbrella word for a variety of greenhouse gases. This covers the following, as specified by the Greenhouse Gas Protocol:
- Methane
- Perfluorochemicals
- Sulfur
- Hexafluoride
- Hydrofluorocarbons
- Nitrous oxide
Companies that incorporate carbon accounting software into their carbon management strategy are better able to handle regulatory issues and stakeholder expectations. Both are essential to a business’s public reputation.
Those that use audit-grade carbon accounting software are better equipped to communicate their CO2 footprints to key stakeholders and address compliance issues.
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