New global regulations are increasing the pressure on companies to track and report the CO2 emissions of purchased goods. To address this challenge, RELEX Solutions, a provider of unified supply chain and retail planning solutions, has introduced new CO2 Analytics functionality. This feature automatically tracks and reports the CO2 emissions of purchased products, helping organizations comply with mandates to report all Scope 3 emissions. These mandates, including the CSDR directive in the EU and the California SB 253 Act in the U.S., specifically impact organizations in the EU and California, where tracking the CO2 emissions of purchased goods is crucial for retail due to their significant emissions.
RELEX CO2 Analytics simplifies this traditionally difficult and laborious process by automatically calculating CO2 emissions of purchased goods. It combines emission factors for products using AI algorithms with data already available in the RELEX platform. Customers can also leverage third-party data sources through the RELEX AI and data platform, supporting integration of data that enhances optimization outcomes. This process uses the latest AI tools and techniques, including natural language processing, to match CO2 emissions data to products.
“Consumers are increasingly seeking sustainable products and favoring retailers that demonstrate a commitment to sustainability. Reducing CO2 emissions, especially for retailers, is crucial given the significant emissions from purchased goods,” said Svante Göthe, Head of Sustainability, RELEX Solutions. “However, acquiring CO2 emission factors often requires significant time and effort. Our aim is to simplify and reduce the time required to calculate emissions and provide accurate visibility into the carbon footprint of purchased goods.”
RELEX CO2 Analytics not only empowers decision-making by providing data on the carbon footprint of products but also streamlines data collection and analysis processes to optimize reporting and workload. It supports regulatory compliance and enhances end-customer satisfaction by clearly demonstrating support for sustainability initiatives.
“We have begun piloting CO2 Analytics to better understand our own emission factors,” said Simon Kangas, Supply Chain Manager, Menigo. “Initially, we already see high value in the ability to visualize the emission data within the RELEX platform and easily analyze and report against those figures. It’s powerful to have this data directly in the RELEX platform, enabling more sustainable supply chain planning at Menigo.”
RELEX was founded with the mission of reducing waste throughout the consumer goods value chain, and sustainability is a core tenet embedded across the organization. This commitment is reflected in key environmental achievements, including annual savings of up to 40% in food waste, preventing 280 million kg of food waste, and saving 950,000 tons of CO2 equivalents. RELEX has just announced the 2024 Sustainability Report, outlining the environmental, social responsibility, and governance initiatives and progress made in reducing the company’s carbon footprint globally.
