Opportunities of a data-driven future (how can data support SMEs transition to net zero?) (Guest blog from Climax Community)
Decarbonising your business operations as an SME is more important than ever. Last year’s atmospheric carbon dioxide levels were the highest ever recorded; the window to limit emissions output and halt global warming is closing. For most businesses, assessing the emissions from the supply chain to the consumer can contain hundreds of actors and thousands of emissions producing processes. Building a data strategy for your business’ emissions is crucial for achieving net zero objectives by 2050.
Big data analytics can have a profound impact on a company’s ability to confront the big challenges but managing data can be difficult. Prior to developments in the fields of data science, machine learning (ML), and artificial intelligence (AI), it was costly and time-consuming for any business to interpret and gain insight from their operational data. When it comes to ESG, data insights are more important than ever.
With the advent of data-driven technologies within the cleantech sector, businesses can monitor and optimise processes to generate real solutions to waste and energy consumption issues. An effective strategy requires a company-scale review which includes an analysis of operations, employees, supply chains, vendors, and all other emissions producing processes. Having data that is comprehensive, trustworthy, and secure is the foundation for businesses to communicate with stakeholders and deliver on emissions pledges.
Effective data analytics strategies for monitoring emissions, companies can integrate emissions data management into company systems to quickly analyse data, understand the environmental results, and forecast reduction scenarios. This includes predictive maintenance, cutting costs, improving business performance, and much more.
There are some important things to consider when building an emission focussed data strategy:
- Ensure the data collected is consistent, relevant, and regularly updated
- Align the analysis of data with businesses objectives and wider climate initiatives (Greenhouse Gas Protocol, Science Based Targets Initiative)
- Integrate data collection into company culture, behaviours, and relationships by keeping all stakeholders informed and making the processes collaborative and educational
Making up 50% of national emissions, SMEs are crucial for advancing national net-zero goals. More than ever, climate action makes commercial sense, and businesses that act now will become the changemakers of the future. Data shows us the need for urgent climate action, but also has a role in the journey to the solution.
How is Climax Community helping SMEs get to net zero?
Climax Community’s interactive platform, Climate Essentials is a data-driven software that enables organisations (specifically SMEs) to measure, track and reduce their carbon emissions. Climate Essentials is a comprehensive solution for carbon reduction, with unique functionalities, such as flexible data inputting options and estimation algorithms, SMEs can input their data quickly and easily. We provide an accessible and interactive emissions journey for SMEs, by breaking down the carbon analytics of businesses by industries, size and location, and outlining reduction tactics to target net-zero campaigns, incentives, and initiatives.
Get in touch to find out more: [email protected]
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techUK provides opportunities for members to showcase climate tech innovation. Members are invited to speak at events, contribute to reports, write blogs, run webinars, and take part in podcasts that support their environmental action. We strive to amplify the sector’s commitment to sustainability. To discuss how we can support you, please visit our Climate Action Hub and click ‘contact us’.