iLOQ one of first companies in Europe to monitor GHG emissions in near real time
iLOQ is committed to taking a holistic 360° approach to sustainability. This means looking at all environmental, social, and governance (ESG) factors, not only in our own daily operations, but across the entire supply chain and throughout the lifecycle of our solutions.
Developing smart greenhouse gas (GHG) reporting practices is important to get a full picture of our overall sustainability. Even small improvements across the board help improve the sustainable performance of our solutions over their lifecycle while minimizing the environmental effects of our operations.
The seven main greenhouse gases are: carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons, perfluorocarbons, sulphur hexafluoride (SF6) and nitrogen trifluoride (NH3) of which CO2 is the most important.
Importance of ongoing data
In the graphic shown above, ‘upstream’ activities relate to our design and manufacturing phases, while ‘downstream’ activities relate to distribution and use of our products. It is important to take both streams into account to accurately monitor our performance. And it is simply not enough to do manual monitoring work, for example, once a year which is time-consuming and expensive. We need to have access to ongoing data – real-time insights into our GHG emissions.
Together with our partner – Snowfox.AI – an innovative expert in purchasing invoice automation services, whose capabilities have been extended to manage GHG data, we now have an online-based tool to measure our GHG emissions in the upstream. The methodology follows the GHG Protocol guidelines for Scope 1, 2 and 3 emissions. Using purchase invoice data and artificial intelligence, we can manage GHG Scope 1-2-3 data and lead the reduction of carbon emissions in our value chain from start to finish.
Strategic investment for iLOQ
Without data, it is difficult to plan corrective activities and next steps. This is a completely new approach for iLOQ and a strategic investment. With the service, our reporting and planning activities will become radically better, and it will give us a significant competitive advantage, because nowhere else is this being done in such a planned and real-time way.
“With this project, iLOQ aims to secure the kind of data capability which enables knowledge-based operating models, sustainability intelligence and proactive sustainability management. We are proud to be one of the first companies in Europe to monitor greenhouse gas emissions in near real time,” states Erja Sankari, Chief Operating Officer, iLOQ.
Picture source: Greenhouse Gas Protocol