The world’s carbon markets are evolving rapidly, and India’s carbon market is also expected to launch by 2026, with a carbon credit trading scheme in place by the government already. Tracking scope 3 emissions is a critical and stepping stone to enter and even participate in the market.
Scope 3 emissions range from downstream product use to business travel and purchased items, and make up close to 70% of a company’s overall carbon footprint. They are the most important to address and the most difficult to follow due to their large size, which is why enterprises must invest in a robust software that calculates and monitors its value chain scope 3 emissions.
The Sustainability Cloud (TSC) is one of India’s pioneering climate tech platforms, built for enterprises looking to lead in the climate economy and stay compliant. With its powerful Scope 3 module, TSC NetZero enables companies to accurately map and monitor value chain emissions using activity-specific accounting. The result: improved accuracy, consistent reporting, and a scalable path to Scope 3 readiness.
Why do you need an accounting platform for Scope 3 emissions?
Scope 3 emissions span 15 categories, from raw materials to product disposal to business travel and myriad activities. This Data comes in from multiple suppliers, shipping partners, and customers worldwide, often in mismatched formats, systems, and dashboards. Due to this large volume and erroneous sources, manual tracking with spreadsheets and other tools can lead to errors, delays, and often wrong calculations. This can eventually result in missed opportunities, increased compliance expenses, and reporting mistakes that damage your reputation.
This complexity is reduced with a specialised Scope 3 platform, which gives your emissions accounting procedure scale, accuracy, and structure.
Here’s a look at 5 ways The Sustainability Cloud simplifies calculations as a scope 3 accounting platform:
- Saves time in data collection
TSC’s scope 3 emissions software makes data collection seamless. Picking up data from all the critical junctures of the supply chain footprint is the most complex yet important step in calculating your organisation’s value chain carbon footprint. TSC’s software is programmed to link up and pull data of all formats from supply chain sources of an organisation, such as internal systems, suppliers and other partners.
The software also reflects data back into user-friendly dashboards for the organisation to track emissions consistently by integrating with your existing ERP and MIS systems for better streamlining.
- Dynamic product in sync with the latest regulations
As an organisation, being compliance-ready is important to safeguard profits and goodwill. TSC’s scope 3 emissions software covers all the organisational compliance needs. Our software provides ready to use templates aligning with key frameworks such as GHG Protocol, BRSR, EU’s CBAM, etc. and also guarantees audit-ready reports.
Our platform also provides regular updates and alerts with respect to changing global standards, ensuring that your organisation does not miss any updates regarding statutory requirements and changes.
- Dual Benefit: software + personalised consultant on supply chain carbon footprints
TSC’s scope 3 value chain software not only tracks the organisation’s scope 3 value chain data but also spot where emissions can be cut down.
An organisation can strategise their operations better and reduce its emissions and costs by analysing real time dashboards which highlight high-emission activities inside the organisation, and discover which 3rd party operators contribute the most to scope 3 supply chain emissions by using TSC’s software.
Apart from tracking scope 3 value chain data, TSC also recommends tailored and customised decarbonisation strategies for your organisation.
- Easy integration with existing infrastructure
TSC’s scope 3 accounting platform’s one of the key features is that it connects and extracts data from your organisation’s existing software, such as CRM and MIS software. This makes sure that there is no need for the organisation to manually edit and feed data into the software. This ensures a smooth collaboration between different departments of the company.
TSC’s scope 3 accounting platform is compatible with most software and tools for data extraction within your organisational structure, saving time and manual effort.
- Customised tracking for different industries
TSC’s scope 3 for value chain software offers customised scope 3 data tracking for different industries such as aluminium, textile, cement, etc.
Our software offers sector specific standards and customised reporting tools and other features, so that organisations do not waste time on setting software for the relevant industry.
Businesses may monitor, audit, and control Scope 1, 2, and 3 emissions in compliance with GHG Protocol and PACT regulations by using TSC NetZero’s all-inclusive carbon accounting system. With automated data collection, real-time monitoring, and comprehensive analytics, the platform streamlines emission reporting and guarantees that companies not only satisfy compliance requirements but also take full advantage of the carbon market’s financial potential. Utilizing TSC’s robust scope 3 emissions software, strong carbon accounting framework, businesses can boost their ESG profile, draw in sustainability-minded investors, and engage in carbon credit trading.
