Climate accounting software provider CarbonChain announced today the launch of CarbonChain Comply, a new carbon reporting solution for businesses within metals and energy supply chains.
According to CarbonChain, the new solution aims to address the growing regulatory requirements and stakeholder demands for transparent and accurate disclosure in the commodities supply chain, offering a “one-stop shop for carbon reporting.”
Founded in 2019, UK-based CarbonChain’s carbon accounting platform automates emissions tracking with granular, asset-level data, providing companies and financial institutions with visibility into their Scope 3 and supply chain emissions. With data collection from across the value chain, from raw material extraction to consumption, the platform enables carbon traceability and product carbon footprinting, as well as allowing users to identify emissions reduction opportunities.
The new launch follows a $10 million capital raise by the company last year, aimed at supporting the buildout of its carbon accounting solutions.
According to CarbonChain, the new launch forms part of its spring 2024 product release, which includes a series key updates, including “Carbon Reporting Hub,” a new centralized hub enabling users to auto-generate product carbon footprints and corporate emissions reports aligned with the Greenhouse Gas Protocol; “CBAM Compliance,” for importers impacted by the EU’s Carbon Border Adjustment Mechanism, and a “Supplier Engagement Module,” enabling users to exchange data with suppliers to support product lifecycle and Scope 3 emissions calculations for CBAM compliance and sustainability reporting.
Adam Hearne, CEO and Co-founder of CarbonChain, said:
“Manufacturers and traders are overwhelmed by the complex landscape of carbon reporting, and the inconsistencies across frameworks and requirements. The industries that face some of the biggest challenges from carbon disclosure don’t have enough clarity on how and what to report. With CarbonChain Comply, our customers will know exactly what’s expected of them — and be able to do it with confidence.”
