CHICAGO, IL (November 30, 2023) \u2013 Sphera\u00ae, a leading global provider of environmental, social and governance (ESG) performance and risk management software, data and consulting services, has been named a leader in the enterprise carbon management software market by Verdantix, an independent analyst firm, in its Green Quadrant: Enterprise Carbon Management 2023 report.<\/p>\n
The Green Quadrant Carbon Management Software report aims to help organizations better understand the market evolution of the carbon management software ecosystem by taking a deep dive into the current software platform offerings. The benchmark report, based on the proprietary Verdantix Green Quadrant methodology, assessed 12 capability and six market momentum categories. The analysis was also based on a two-hour, live brief and product demonstration, vendor responses to 70 questions and customer interviews. Sphera has maintained its strong position since being named a market leader in the inaugural Green Quadrant: Enterprise Carbon Management report in 2022.<\/p>\n
Sphera earned a perfect score for product strategy, which examines a vendor\u2019s carbon management strategy for the next two to five years and product roadmap. Sphera\u2019s Carbon Management solution \u2014built on a SaaS platform consisting of SpheraCloud Corporate Sustainability, Environmental Accounting and Product Sustainability \u2014 enables companies to collect Scope 1, 2 and 3 carbon emissions data, automatically calculate their organization\u2019s carbon footprint and respond to a multitude of reporting frameworks and stakeholder initiatives.<\/p>\n
Sphera received the top score for net-zero strategy development \u2014 an area that the report notes as being of increasing importance as more companies set net-zero targets. According to the Green Quadrant analysis, Sphera\u2019s integrated solution is notable for \u201cfeatures that track decarbonization program metrics (costs, savings and payback periods), analyze ROI against marginal cost abatement curves and enable progress-tracking with auditability.\u201d The report also notes that Sphera\u2019s solution \u201callows customers to model and share optimal decarbonization scenarios across business units such as procurement, logistics and production, enhancing collective efforts towards net-zero targets.\u201d<\/p>\n
Sphera earned the top score for data management and tied for the top score in the data acquisition and Scope 3 data aggregation categories. Sphera also received high scores for carbon emissions calculation engine, carbon disclosure management and organizational management. The report notes that \u201cSphera currently has over 15,000 benchmark data sets, including public data from the CDP, European Environmental Agency and the US Department of Energy, as well as data from proprietary databases.\u201d It\u2019s also noted that Sphera\u2019s solution allows custom benchmarks to be defined using any parameter or KPI, such as CO2 per revenue dollar.<\/p>\n
Sphera was recognized for having strong capabilities in addressing Scope 3 challenges in two areas in particular: product decarbonization and financed emissions. Sphera received the top score in product decarbonization for \u201cits hotspot identification and extensive database of life cycle assessments.\u201d For downstream financed emissions management, Sphera offers \u201ccomprehensive Scope 3 emissions data tailored to financial entities, using granular, bottom-up data collection techniques.\u201d Sphera\u2019s carbon accounting solutions are integrated into the emissions reduction program of the Blackstone Group \u2014 one of the largest private equity firms in the world and Sphera\u2019s investor \u2014 which seeks to reduce carbon emissions by 15% across a number of Blackstone\u2019s portfolio companies.<\/p>\n
\u201cCarbon accounting is an essential part of any climate strategy, and we are proud to once again be recognized by Verdantix as a leader in carbon management software,\u201d said Paul Marushka, Sphera\u2019s CEO and president. \u201cWith an ever-evolving global regulatory landscape and mounting consumer and investor pressures, companies need the tools that enable them to set science-based targets, report using a variety of frameworks, meet varied regulatory requirements and produce transparent carbon disclosures. Sphera is uniquely positioned to help organizations in those efforts. Empowering companies to achieve\u202fnet-zero goals based on data that is measurable, actionable and auditable is critical to our mission of creating a safer, more sustainable and productive world.\u201d<\/p>\n
\u201cThe carbon management software market is growing with more firms making net-zero commitments and participating in voluntary and regulatory reporting,\u201d said Adam Barnard, principal analyst at Verdantix. \u201cVerdantix finds that carbon management software buyers are increasingly looking for functionality such as financial metrics for carbon emissions and tools for acquiring facility-level emissions data. The Green Quadrant analysis shows that Sphera has strong benchmarking capabilities, allowing users to compare at the enterprise, building and product levels, and is well positioned to serve firms looking for strong Scope 3 modeling and product decarbonization capabilities.\u201d<\/p>\n
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Sphera is the leading provider of environmental, social and governance (ESG) performance and risk management software, data and consulting services focusing on Environment, Health, Safety & Sustainability (EHS&S), Operational Risk Management (ORM), Product Stewardship and Supply Chain Risk Management (SCRM).\u202fFor more than 30 years, we have served over 7,000 customers and a million-plus users in 80 countries to help companies keep their people safe, their products sustainable and their operations productive.\u202fLearn more about Sphera at\u202fwww.sphera.com<\/a>. Follow Sphera on LinkedIn<\/a>.<\/p>\n For media inquiries, please contact:<\/p>\n Denise JonesSphera<\/h6>\n
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