Optera Releases the Next Evolution of its Supply Chain Manager, Enhancing Scope 3 Emissions Management

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Oct 31, 2024, 09:00 ET

The upgraded platform improves transparency and granularity in supply chain emissions data, addressing new regulatory requirements

BOULDER, Colo. , Oct. 31, 2024 /PRNewswire/ -- Optera, a leader in ESG and carbon management software, released the next generation of its Supply Chain Manager to help companies meet increasingly stringent regulatory requirements for scope 3, category 1 emissions reporting. The new version offers enhanced capabilities for managing supply chain emissions data at a more granular level, enabling organizations to drive more effective decarbonization efforts across their value chains.

With the implementation of regulations such as the European Union's Corporate Sustainability Reporting Directive (CSRD ) and California's Climate Corporate Data Accountability Act), companies increasingly require transparent and auditable supply chain emissions data. Optera has enhanced its Supply Chain Manager platform to help organizations meet these emerging requirements faster and more efficiently.

"We're not just providing a tool; we're enabling a transformative approach to sustainability," said Tim Weiss, CEO and co-founder of Optera. "With enhanced supplier data granularity, transparent calculations, and accelerated time to insight, Optera is making it easier than ever for companies to drive climate action throughout their value chains."

The upgraded platform builds on Optera's existing features, including a built-in database of emissions data from over 10,000 companies, advanced upstream calculation methodologies and supplier data quality standards. Key updates in Supply Chain Manager include:

More detailed supplier data: The system now accommodates facility-level and business unit emissions data from suppliers, with the ability to incorporate product-level emissions insights in the near future.
Increased calculation transparency: The platform displays emissions calculations, sources and emissions factor mapping clearly within the interface, supporting data traceability for sustainability teams, stakeholders, and auditors alike.
Faster time from onboarding to report: Companies can now access initial supply chain emissions data in just weeks for a faster start to their category 1 inventory, with automated reporting to streamline submission for the most common reporting frameworks.
Enhanced user interface: A more streamlined design that facilitates collaboration among cross-functional teams, including company leadership and other stakeholders outside of sustainability teams.

These upgrades follow Optera's recent release of its Outreach module, which compliments the standard database in Supply Chain Manager by enabling companies to gather emissions data directly from their suppliers at various levels of emissions reporting readiness.

Optera's latest research on sustainability professionals' priorities within manufacturing, retail, financial services and information technology found broad agreement that supplier engagement is critical as emissions reporting, verification, and science-based targets (SBTs) are becoming standard practices. A survey found:

70% of respondents are working across their value chain to help suppliers decarbonize.
73% have set a science-based target.
Over 90% report emissions either publicly or to regulators and customers.

"These metrics underscore the critical role our Supply Chain Manager plays in today's sustainability landscape, giving companies the data and collaborative capabilities necessary to make substantial value chain emissions reductions," said Weiss.

Optera's upgraded Supply Chain Manager is now available to all current customers. For more information, visit opteraclimate.com.

About Optera
Optera is the carbon management software for bold climate action. Built on decades of sustainability expertise, Optera helps corporations worldwide reduce their environmental impact by providing credible carbon accounting for Scope 1, 2, and 3 emissions, actionable insights and forecasts, and tools to collaborate with supply chain and investment partners. Our clients lead many of the world's most established and ambitious corporate sustainability programs, from Dell and HPE to Zayo and Williams-Sonoma. Optera also partners with leading NGOs such as BSR, CDP, and the World Economic Forum, and industry associations such as the Responsible Business Alliance and the Retail Industry Leaders Association to advance corporate ESG practices globally. Optera is registered as a Public Benefit Corporation in the State of Delaware.

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SOURCE Optera