Waybridge platform allows customers to report on and optimize Scope 3 CO2e emissions from all the purchases and sales in the most important part of their supply chain
NEW YORK, Oct. 26, 2022 /PRNewswire/ — Waybridge, the digital transactional infrastructure for raw materials, today announced a significant enhancement to its trade management platform with the addition of carbon emissions reporting for all shipments being tracked by its customers.
Starting from the end consumer all the way up the B2B supply chain, buyers are becoming more environmentally conscious and are demanding more from the manufacturers they buy from. According to Amazon’s 2022 State of Business Procurement Report, 89% of B2B buyers say if it was easier to identify sustainably certified products, they would be more likely to purchase sustainable products.
To meet retailers’ ESG requirements, suppliers throughout the supply chain need to be able to calculate and share their individual and collective emissions data. These demands from customers, along with increasing government regulations, mean companies can no longer ignore measuring and reducing their greenhouse gas emissions in the creation of their products.
For most companies, the majority of their greenhouse gas impact comes from Scope 3 emissions, which are the emissions that occur in a company’s value chain upstream.
“You can’t set targets and improve what you aren’t measuring,” said Waybridge CEO Scott Evans. “Waybridge is in a unique position to simplify the reporting process for our customers because we already capture all the details for calculating the upstream transportation emissions for shipments managed on the platform. This helps our customers produce emissions data without any extra effort.”
Waybridge uses the GLEC framework to calculate CO2e measurements from vessel, rail, and truck shipments which can be easily viewed by each specific trading counterparty or exported for reporting purposes.
While this measurement is just the first step, with this data customers can evaluate ways to reduce CO2e emissions by considering the routes and types of transportation methods used to deliver their raw materials.
The McKinsey study “Making supply-chain decarbonization happen” states that 30% of total Scope 3 emissions could be abated through product and logistics optimization towards lower-carbon options.
“This is just the first product step Waybridge is making to create a more efficient, resilient, and sustainable supply chain,” said Kyle McCarter, Chief Product Officer at Waybridge. “By setting the groundwork through digitizing all our customers raw materials transactions, emissions measurement is only one example of ways we are going to provide significant impact to the world.”
To learn more about Waybridge, visit https://waybridge.com.
About Waybridge
Waybridge provides unprecedented visibility into the commodities supply chain, connecting all parties and partners onto a single intuitive platform. Our platform allows customers to have end-to-end visibility into their physical materials transactions. Waybridge blends the expertise and vision of commodities and technology experts to create an intuitive platform that makes the exchange of raw materials smarter, faster, and better. Learn more at Waybridge.com or reach out to us on LinkedIn or Twitter.
SOURCE Waybridge
