As more companies seek to reduce their carbon dioxide and greenhouse gas emissions, carbon accounting softwares have become more useful than ever.
Companies are growing cognizant of their environmental impact, and therefore – many have sought third party assistance to manage and reduce their carbon footprint through carbon accounting softwares.
Using carbon accounting softwares allows companies to be held accountable for their new environmental goals, methods to reduce their emissions, monitor their emission reduction progress, and be provided with expert advice on how to proceed with their business in a more sustainable manner.
But what are the best carbon accounting softwares as of 2024?
What is carbon accounting?
Carbon accounting, which is sometimes referred to as greenhouse gas accounting – is a process a company uses to measure the amount of carbon dioxide emissions they are responsible for so that they may equally trade carbon credits between states, companies, and individuals in the carbon market.
Carbon accounting is a great first step towards developing a more sustainable business model, and towards reducing carbon emissions. After all, it’s hard to pinpoint which carbon reduction measures to take if you don’t know how much carbon emissions you’re producing in the first place.
This is where carbon accounting softwares come in handy. Running a business is difficult enough, so that’s why many companies in 2023 are seeking carbon accounting softwares to help them determine their current carbon emissions and create successful mitigation strategies to reduce their carbon footprint.
What are carbon accounting softwares?
Carbon accounting softwares are third parties that help you with carbon accounting in order to manage and support a company in the efforts to reduce their carbon emissions.
Carbon accounting softwares can help keep companies informed about their carbon emissions, and actively seek to reduce their carbon footprint as their company grows.
Despite the great benefits of carbon accounting softwares, they’re still relatively new – and many companies have yet to subscribe to the potential positive impacts carbon accounting softwares could yield for their company.
Carbon accounting softwares seek to help companies reduce their carbon emissions. However, it’s important to note that the term “carbon emissions” is a generic term that is used to represent all types of greenhouse gasses that provoke global warming.
According to the Greenhouse Gas Protocol, the term “carbon emissions” can refer to methane, perfluorochemicals, sulfur, hexafluoride, hydrofluorocarbons and nitrous oxide.
Companies that choose to commit to a carbon accounting software allows them to improve their management of the carbon emissions that they are responsible for. Carbon accounting can also allow for better financial opportunities, as stakeholders are likely to take interest in a company that is seeking to reduce their carbon emissions.
Carbon accounting softwares help to establish greater transparency and ultimately, better communication between stakeholders and other potential investors.
As more companies join the movement to achieve net-zero emissions by 2050, carbon accounting and seeking third party assistance to manage carbon emissions through carbon accounting softwares is more imperative to success than ever.
Planning towards net-zero emissions, which is where a company will counterbalance all of their carbon emissions entirely, requires careful planning that can be made easier through the use of a carbon accounting software.
If you choose the right carbon accounting software for your business, you could see a great improvement in the reduction of your carbon emissions.
It’s no easy task to decide what the best carbon accounting software is for you, as every business is different and requires specific needs to meet their individual environmental goals.
Here are the best carbon accounting softwares of 2023.
The 5 Best Carbon Accounting Softwares of 2023
Greenly is a relatively new carbon accounting software and service based in France that aims to help all companies of all sizes reduce their carbon emissions.
Greenly uses both data analytics and third-party expertise to create personalized solutions for their customers seeking to reduce their greenhouse gas emissions. Therefore, Greenly is the perfect carbon accounting software if your company is seeking tailored carbon emission reduction methods – as Greenly combines the use of data with real-life climate experts to conjure up the perfect carbon footprint reduction plan for your business.
While it’s true that Greenly mostly provides their services to those located in Europe, the United States and the United Kingdom, at the moment, it’s important to note that Greenly is currently expanding at a rapid pace – and aims to share their combined approach to reducing carbon emissions with the world.
Persefoni is known for their five star rating, and is one of the most well known carbon accounting softwares in the industry.
Persefoni arguably has the most experience and most partnership opportunities in the carbon emissions industry, as they are based in the United States and also have offices around the world.
Persefoni has a multitude of relationships with several leaders in the industry, including Bain & Company, Workiva, SCSK, CGI, Hitachi, and Patch. In short, their many partnerships have allowed them to accumulate many references and extensive knowledge in sustainability reporting, collecting data, and carbon accounting as a whole.
One of Persefoni’s biggest selling points is that they’re tamper-resistant, making them trustworthy to share and send data between potential stakeholders.
If you are an asset manager or a part of a large company seeking support from a company to complete both your financial reporting and carbon accounting, then Persefoni could work well for you.
However, if you’re a smaller company and are seeking a more personalized approach to carbon accounting – a company like Greenly may be a better choice.
Sphera is known to be a carbon accounting software that utilizes ESG performance and risk management to manage their customers carbon emissions. Sphera values safety and liability above all else, and seeks to establish organizational methods that will help them build more positive relationships with environmental endeavors yet to come.
Sphera strives to achieve their mission of environmental positivity by centralizing their data, reports, and the tools they use to manage their sustainability and carbon emission reductions.
If safety is your primary concern whilst attempting to reduce your carbon emissions, Sphera could be the right choice – but it is important to note that they do not have the same connections as other companies have or are striving to build.
However, Sphera does offer a simple platform to make integrating carbon emission reduction methods easy – making safety and ease of use their main selling points.
IBM Environmental Intelligence Suite
If you’re looking for a carbon accounting software that’s best for large companies and forecasting future carbon emissions, then IBM Environmental Intelligence Suite might be a good fit.
IBM’s biggest selling point is their ability to interpret large amounts of data. As for their carbon emission reduction services, they offer climate risk analytics through the use of artificial intelligence.
IBM Environmental Intelligence Suite relies on data, risk management, and AI to assist their customers with their carbon emission reduction tactics.
While it is admirable and impressive that IBM has illustrated the time-saving benefits of utilizing technology to make carbon emissions inferences, it is important to note that IBM Environmental Intelligence Suite may not be the best carbon accounting software if you’re seeking a more personalized experience.
However, that is not to negate that IBM is well suited to handle large amounts of data, and that their advanced technology makes it easy to monitor and change carbon emissions reduction tactics easily – since IBM can predict several different future scenarios and therefore the success or failure of your current carbon emission reduction tactics.
Sinai technologies help companies reduce their carbon emissions with their unique modeling and planning efforts.
Sinai Technologies accomplishes this through a plethora of tools and functionalities, but it is important to note their features are limited and may not be the best carbon accounting software if your company is seeking an all-in-one carbon accounting software experience.
In short, Sinai Technologies may not be the best for easily-integrating carbon emissions reduction techniques into your business model – as their interface isn’t as friendly as the other carbon accounting softwares listed above. Otherwise, it isn’t as easy to integrate carbon emission reduction tactics into your business model with Sinai Technologies.
However, their unique models and approach to achieving net-zero emission goals have proven efficacious through the use of carbon budgeting, analytics, and precise analysis to create carbon emissions reduction solutions. If your business has already established a business model to reduce carbon emissions, then the downsides of Sinai Technologies may not impact your overall success.
Why is it important to invest in carbon accounting softwares?
Your company could benefit from deciding to commit to carbon accounting softwares for several reasons.
First off, using carbon accounting softwares is a great first step towards developing more sustainable business habits. As global warming continues to persist, investors and customers are seeking to partner or purchase products or services from businesses that seek environmental and social just as well instead of only financial success.
In other words, investors and customers want to know that the product or service they are buying isn’t going to worsen the environmental state more than it already is – and that revenue isn’t there sole business incentive.
Carbon accounting also helps to establish transparency and prevent future greenwashing. Commiting to the use of carbon accounting softwares can also provide statistical evidence that is viable to prove that your company is indeed making an effort to reduce your carbon emissions.
Not only will using carbon accounting softwares help you to reach net-zero emissions and maintain or reduce your carbon footprint, but using carbon accounting softwares can also stimulate financial growth within a company. Since investors, employees, and consumers are growing increasingly interested in sustainability – the odds of attracting new consumers, investors, and employees increase alongside tangible dedication towards reducing carbon emissions and helping the environment.
Carbon accounting softwares can also help companies comply with new laws or government requirements more easily. Since carbon accounting is a verified process, politicians and lawmakers will be more likely to approve of a company’s dedication to reducing their carbon footprint and confirm that they are complying with the current environmental regulations more easily.
All in all, committing to the use of carbon accounting softwares can only benefit everyone involved. It helps to reduce your carbon emissions, attract more investors and consumers, increase financial lucrativity, and ultimately grow your business – all while helping the planet.
What about Greenly?
Curious to see if Greenly is the right carbon accounting software for your business?
If reading this article about the best carbon accounting softwares of 2023 has made you interested in reducing your carbon emissions to further fight against climate change – Greenly can help you!
Greenly can help you make an environmental change for the better, starting with a carbon footprint assessment to know how much carbon emissions your company produces.
Click here to learn more about Greenly and how we can help you reduce your carbon footprint.
Take the first step towards reducing your carbon footprint by requesting a free and non-binding demo with one of our experts today and finding the solution that best fits your business needs.
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