How do you compare and benchmark your carbon performance with your peers and competitors?

1. Standardized Metrics: Use industry-recognized carbon emissions metrics such as CO2e emissions per unit of production or revenue. 2. Data Sharing Initiatives: Participate in industry collaborations or platforms where companies can anonymously share and compare carbon performance data. 3. Benchmarking Tools: Utilize carbon benchmarking tools and databases to compare your performance against industry averages or sector-specific benchmarks. 4. Industry Reports: Refer to industry-specific sustainability reports or studies that provide insights into peers' carbon performance. 5. External Verification: Engage third-party auditors to verify and validate carbon performance data for credibility and accuracy.

Align on standard greenhouse gas reporting protocols and get external verification. Participate in industry-specific sustainability reporting frameworks and certifications. This allows apples-to-apples comparisons using consistent metrics. Work with consultants to model your complete emissions footprint across scopes and map reduction pathways. But also look beyond just carbon - assess broader environmental and social impacts holistically.

Defining the scope and boundaries of carbon accounting is crucial for a comprehensive inventory. Aligning with the GHG Protocol ensures a standardized approach. Additionally, consider incorporating a materiality assessment to prioritize significant emissions sources. Clearly articulate the methodology for emission allocation among entities or products, promoting transparency. Acknowledge the evolving landscape by mentioning potential updates in emission factors or reporting standards to demonstrate adaptability. Emphasize the importance of periodic reviews to refine boundaries, ensuring accurate and relevant reporting.

To compare and benchmark carbon performance with peers and competitors, companies typically employ standardized metrics and reporting frameworks, such as the Greenhouse Gas Protocol or the Carbon Disclosure Project. These tools help organizations measure and disclose their greenhouse gas emissions consistently. Benchmarking involves assessing key performance indicators, like carbon intensity or emissions reduction targets, against industry benchmarks or competitors' disclosed data. Additionally, engaging in industry initiatives and participating in sustainability indices can offer a broader perspective on carbon performance within a sector.

Defining the scope and boundaries of carbon accounting and reporting is essential for organizations committed to sustainability. The GHG Protocol's three scopes provide a clear framework for categorizing emissions, from direct sources (scope 1) to indirect sources like purchased electricity (scope 2) and value chain activities (scope 3). Including all scopes allows companies to understand their full carbon footprint and identify areas for improvement. It's not just about numbers; it's about accountability and transparency. By setting clear boundaries and methodologies, organizations can ensure consistent reporting, facilitating comparisons and driving meaningful action towards a more sustainable future.

In addition, ensure data accuracy by validating sources and considering seasonal variations. Collaborate with relevant departments for comprehensive information and identify any uncertainties in your calculations. Regularly update emission factors and stay informed about industry benchmarks to enhance precision. Implementing a robust data management system aids in tracking progress and facilitates timely adjustments. Engage employees in the process to foster a culture of sustainability, promoting collective responsibility. Remember, transparent reporting is vital for credibility and stakeholder trust. Efficient data collection and calculation lay the foundation for meaningful emission reduction strategies.

Data should be collected across the value chain according to the operational and organisational boundaries chosen. Data should also be collected from suppliers for adequate calculation of Scope 3 emissions (e.g. upstream transportation, purchased goods and services). A decision has to be made whether data is collected purely spend-based (e.g. in USD, EUR) or also activity-based (e.g. in litres, tons of material). Spend-based might be easier but makes the estimation less accurate. Activity-based is harder to collect but makes the baseline much more accurate and leads to more actionable insights.

Standard KPIs on carbon are the Scope 1, 2 & 3 GHG emissions. The underlying data for Scope 1 & 2 is fairly straightforward as the company has access to it. Estimating Scope 3 is where most organizations start running in circles. Either the underlying data sits outside the organization (e.g. Category 1 - Purchased Goods & Services) or it turns out to be a high-level estimate (Category 7 - Employee Commuting). Some tips to ensure that the accuracy of collecting and calculating improves over time: i) Start small but aim for accuracy. Especially in Scope 3 take only the top 2-3 categories for your company and work on those. Don't boil the ocean. ii) Invest in a robust process for data collection, storage, validation, and metric calculation.

Jetzt wird’s ernst: Zeit, deine Daten für jede Emissionsquelle und jeden Scope zu sammeln und zu berechnen. Here’s how: 1️⃣ Aktivitätsdaten sammeln: Hol dir Infos über deinen Kraftstoffverbrauch, Stromverbrauch oder Geschäftsreisen. 2️⃣ Emissionsfaktoren anwenden: Das sind die Koeffizienten, die die Menge der emittierten Treibhausgase pro Aktivitätseinheit schätzen. 🔨 Tools und Methoden: Nutze Tabellenkalkulationen, Software, Umfragen oder Messgeräte, um deine Daten zu sammeln und zu berechnen. Vergiss nicht die Umrechnungsfaktoren: Wie das globale Erwärmungspotenzial, das den Erwärmungseffekt verschiedener Treibhausgase vergleicht. Ready to crunch those numbers?

Operationalizing the company's data collection & efforts across locations is the key. This means (i) ensuring that you have a central tool/database in which the sites update the site-specific Scope 1 & 2 GHG emissions, Energy consumption, Volume of water withdrawal & consumption, etc. (ii) Have a clear validation step to ensure accuracy of input figures (iii) For Scope 3 estimations, the critical categories should be estimated with appropriate estimation models/ estimation factors (iv) Always apply the "second pair of eyes" principle on the final calculated metrics to ensure that an internal function like internal audit has validated the final numbers before releasing these to top management.

Selecting benchmarks and peers is crucial for meaningful performance evaluation. When choosing benchmarks, opt for those reflecting industry norms, best practices, or set targets. Peers should share similar characteristics, be it in size, sector, location, or product range. Sources like public databases, reports, or standards aid in this selection. Ensure data quality, consistency, and comparability, making necessary adjustments. Additionally, consider future trends and emerging practices to stay ahead. This strategic approach enhances decision-making, fostering growth and competitiveness within your industry.

Jetzt geht’s darum, die richtigen Benchmarks und Peers auszuwählen, um deine Kohlenstoffleistung ins richtige Licht zu rücken: 1️⃣ Benchmarks setzen: Schau dir an, was in der Branche als Standard gilt – ob das nun durchschnittliche Emissionswerte, innovative Best Practices oder ambitionierte Ziele sind. So hast du eine Messlatte. 2️⃣ Peers finden: Vergleiche dich mit Firmen, die dir ähneln (wichtig, dass sie ähnliche Herausforderungen und Chancen haben) 📈 Datenquellen nutzen: Greif auf diverse (öffentliche) Quellen zurück 📊 Datenqualität sicherstellen: Überprüfe, ob die Daten verlässlich und vergleichbar sind. Falls nötig, passe die Daten an und mache Annahmen transparent

When it comes to comparing and benchmarking our carbon performance, it's crucial to think beyond just our competitors. While benchmarking against peers is important, our goal is to authentically strive to be the best we can be. By thinking outside the box and not just focusing on what our competitors are doing, we can innovate and lead in ways that set new standards for sustainability. It's about creating unique solutions and pushing the boundaries of what's possible, ensuring that our efforts are genuinely impactful and not just marginally better.

Ideally, you choose industry benchmarks or industry segment benchmarks. However, especially for carbon emissions these are not necessarily readily available. So the regular route is via peer benchmarks. Most companies have a good idea who the key competitors are. Those should also be benchmarked in terms of GHG emissions. By choosing key competitors you have already made a choice of comparable entities in terms of product, potentially size, potentially geographical footprint, etc. GHG accounting is standardised, however, there are still large differences in what companies report which should be kept in mind when comparing. Additionally, to correct for size differences relative KPIs can be used in the benchmark (e.g. CO2e/revenue)

Lots of platform out there to benchmark but I found Ecovadis to be very user-friendly and accurate and lots of MNCs are in the platform too.

To analyze, interpret, & communicate data, start by comparing carbon intensity metrics, such as emissions per unit of revenue, production, or energy consumed, to normalize differences in size & output across your industry. This allows for a meaningful comparison that accounts for variations in business scale & operations. Identify trends & patterns in the data to gain insights into how your carbon performance aligns with industry standards & best practices. By recognizing these trends, you can highlight areas of strength and pinpoint opportunities for improvement. Communicate these findings clearly to stakeholders, illustrating your performance relative to peers & demonstrating your commitment to continuous improvement in sustainability.

1️⃣ Daten analysieren: Nutze Metriken: Vergleiche absolute Emissionen, Intensität und Reduktionen. Stärken und Schwächen: Finde heraus, wo du gut bist und wo du noch zulegen musst. 2️⃣ Ergebnisse kommunizieren: Visuelle Tools: Setze auf Diagramme, Tabellen und Dashboards für klare Darstellung. Klare Berichte: Fasse deine Erkenntnisse prägnant zusammen. Erzähl deine Story: Erkläre den Hintergrund deiner Zahlen und Maßnahmen. 3️⃣ Strategie und Planung: Chancen und Risiken: Identifiziere neue Möglichkeiten und manage Risiken. Actionable Insights: Nutze die Daten, um strategische Entscheidungen und konkrete Verbesserungspläne zu erstellen. ➡️ Mach deine Ergebnisse sichtbar, lerne daraus und verbessere kontinuierlich deine Strategie.

Your results are only as good as your method. Carbon reporting is complex and may not be able to be completed in house. Better to defer to experts than waste time making inaccurate analyses. Consider services like My Emissions or Vegi if you are in the foodservice industry to provide extensive insights acquired through years of studying the best practice for carbon labelling and accounting.

The first step in analyzing and comparing emission values is to understand how the values are calculated. While there is no single, universally accepted approach to calculating emissions, there are some common definitions that are used by companies. These include terms like "net-zero," "climate neutral," and others. However, not all companies publish their methodologies, making it challenging to compare their emissions. Without this information, it is difficult to assess the comparability of the methodologies used by different companies.

Conduct a thorough analysis to identify areas of improvement and areas of excellence, and effectively communicate the findings. Utilize data visualization and concise reporting to efficiently convey findings to stakeholders.

Whilst bench-marking against peers is important, the goal should always be to authentically strive to be the best your organisation can be - not just marginally better than alternatives!

Was sonst noch zählt: 💚 Fallstudien: Zeig, wie andere es rocken. Teilen ist lernen. 💚 Erfolge: Erzähle von deinen Wins und wie du Hürden gemeistert hast. 💚 Trends: Bleib fresh und nutze die neuesten Nachhaltigkeits"trends". 💚 Netzwerken: Verbinde dich, tausche aus, wachse zusammen. 💚 Ambition: Setze hohe Ziele und verbessere ständig. 💚 Stakeholder: Hol dir Feedback und passe an. Bleib relevant. Mach deine Geschichte rund und inspiriere mit echten Beispielen und Visionen.

Identify Opportunities for Improvement. Use benchmarking insights to identify areas where your organisation can improve its carbon performance. This could involve implementing energy efficiency measures, transitioning to renewable energy sources, optimising transportation logistics, or engaging with suppliers to reduce emissions throughout the supply chain. The 1st step to achieve this, is to educate & awareness. All the key partners mandatory aligned with SDGs. Not only the key partners. Each and every individual should be aware of SDGs. This should be also included in mandatory trainings in L&D.

We also participate in industry-specific sustainability initiatives and reporting frameworks to see how we stack up against others in our sector. Additionally, we regularly review public disclosures and reports from similar companies to understand best practices and identify areas for improvement in our carbon performance.

Keep yourself informed about the latest standards and best practices, such as the Science Based Targets initiative (SBTi). Constantly striving for improvement and staying up-to-date with the latest regulations and methodologies are essential for staying ahead and ensuring precise benchmarking.