A More Reliable Path to Net Zero: Ivalua’s Latest Innovation Helps Reduce the Environmental Impact of Supply Chains
Ivalua’s new Environmental Impact Center empowers Procurement and Supply Chain teams with reliable and actionable insight to reduce Scope 3 Greenhouse Gas (GHG) emissions.
Redwood City, CA - 31 January, 2023 - Ivalua, a global leader in Cloud Spend Management Solutions, announced the launch of its Environmental Impact Center (EIC), a solution that enables organizations to measure and reduce their value chain (or Scope 3) emissions. By integrating the EIC's functionalities in their procurement practices, organizations can dramatically accelerate sustainability agendas with reliable emissions data for all the direct and indirect products and services they acquire, and establish transparent reporting standards.
With regulatory requirements, sanctions regimes, and public scrutiny on the rise, sustainability is a top priority for every organization globally. Any efforts to impact emissions and reach net zero targets must involve the reduction of Scope 3 emissions, which constitute over 75% of total emissions at most organizations. This puts the Procurement function in a central role towards establishing a transparent emissions baseline using reliable data and collaborating with suppliers on carbon savings plans to meet reduction targets and for reporting and risk assessment.
Through Ivalua's EIC, emissions data can be imported from recognized third-party emissions data sources or directly from suppliers; the data is then combined with other information such as environmental risk scores, policies, published targets, or certifications. This data is accessible across Ivalua's Source-to-Pay solution to facilitate more sustainable procurement decisions within daily operations. As products are purchased within an organization, category managers can precisely track the year-to-date carbon emission trajectory for their purchases.
"Procurement and supply chain teams play a crucial role in reducing scope 3 emissions and contributing to corporate objectives around supply chain sustainability", said David Khuat-Duy, Founder and CEO. "By combining relevant and reliable data with supplier collaboration capabilities, Ivalua will enable customers to make meaningful progress on their sustainability journeys."
"In contrast to other solutions, the EIC will allow procurement to build baseline estimates for products and categories where verifiable supplier data does not exist", said Pascal Bensoussan, Chief Product Officer at Ivalua. "They can use these models to focus on high-emitting categories and products. They can then collaborate with suppliers to verify actual product emissions, define improvement plans to reduce emissions, and, ultimately, accurately track and report progress. EIC will aid our customers in establishing a more sustainable supply chain to reduce both greenwashing and green-guessing."
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Ivalua is a leading provider of cloud-based Spend Management software. Our complete, unified platform empowers businesses to effectively manage all categories of spend and all suppliers, increasing profitability, improving ESG performance, lowering risk and improving employee productivity. We are trusted by hundreds of the world's most admired brands and recognized as a leader by Gartner and other analysts. Learn more at www.ivalua.com. Follow us at @Ivalua.