GreenLight Solution: Decarbonisation Software Tool

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by KnowESG
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Deloitte has introduced GreenLight Solution, an enterprise decarbonisation Software as a Service (SaaS) platform that consists of a set of modular tools to enable organisations to take action at all stages of their decarbonisation efforts.

GreenLight Solution is complemented by Deloitte's extensive experience in sustainability and climate client service. Together, they offer organisations a comprehensive, optimised, and actionable decarbonisation roadmap that can be seamlessly integrated into their existing technologies and business strategy.

“Many business leaders around the world are feeling the impacts of climate change on their organisations and are working to set ambitious sustainability targets, but they need comprehensive, validated data and insights to take concrete steps toward decarbonisation,” said John Mennel, sustainability strategy leader and managing director, Deloitte Consulting LLP. "Even when economic and technological factors change, this solution can help companies build a complete picture of their roadmap, understand how to prioritise projects based on economics and time horizons, and keep that view up to date as real-world conditions change."

Harnessing the power of accurate data and insights

GreenLight Solution is a cloud-based SaaS solution built on the CortexAI platform, which is a scalable and cutting-edge artificial intelligence (AI) system for data management and analytics.

The initial launch features seven flexible software assets that are fully integrated, and it incorporates one of the most extensive global data libraries available, with over 150,000 emissions factors and 200 real-world tested emissions abatement projects, including those for hard-to-abate activities and commodities like air travel, maritime, and steel manufacturing.

In addition, the platform includes advanced data automation and transformation capabilities, and it utilises a broad range of technology firms to seamlessly integrate with an organisation's preferred enterprise system.

GreenLight Solution offers organisations access to a global credits and incentives hub that covers 16,000 programmes across 70 countries, allowing them to identify tax credits and incentives by category, geography, or solution.

The solution also provides insight into the potential financial impacts of different climate action initiatives. By utilising optimisation algorithms to develop a portfolio of opportunities, GreenLight Solution helps organisations determine the appropriate sequencing of projects to achieve their decarbonisation objectives while balancing them with their business objectives.

“Organisations are grappling with an overwhelming amount of data as they develop their decarbonisation strategies. By leveraging cutting-edge climate technology, leaders can view a clear picture of their roadmap to achieving their net-zero targets, gain previously untapped insights required to make informed investment decisions, and ultimately make tangible progress to accelerate their sustainability journeys,” said Jennifer Steinmann, Deloitte Global Sustainability & Climate practice leader.

Enabling a business imperative

As climate change becomes a top priority for investors, regulators, consumers, and internal stakeholders, organisations face increasing pressure to set ambitious carbon reduction targets and implement abatement strategies.

Deloitte's 2023 CxO Sustainability Report found that 75% of organisations have increased their sustainability investments over the past year, but moving from strategy to action can be overwhelming. The shift to a low-carbon future will require sophisticated approaches to benchmarking, real-time data on operations, and a continuous connection to new technologies, particularly for commodities and processes with the most significant greenhouse gas emissions.

“One of the biggest issues business leaders face is sourcing and finding the fit-for-purpose technologies that can support their specific decarbonisation needs,” said Dilip Krishna, Deloitte Global Sustainability & Climate chief technology officer. “As a true enterprise solution for decarbonisation, GreenLight Solution is grounded in real world project experience and built on a vision to combine technology, Deloitte services, and an ecosystem of alliances. It is uniquely positioned to tackle this challenge and help our clients feel confident in their ability to take concrete steps to move from strategy to action.”

GreenLight Solution is one of Deloitte's recent investments in climate technology, along with GreenSpace Tech, an initiative aimed at scaling climate technology solutions. To learn more about the GreenLight Solution, visit https://www2.deloitte.com/us/en/pages/about-deloitte/solutions/greenlight-solution.html.

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Source: Deloitte

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