Worldfavor, the global platform for accessing and sharing ESG data, has launched a new tool to help investors understand their portfolios’ climate impact. The CO2e Emission Calculator provides investors access to vital Scope 3 emissions data from their portfolio companies, helping them measure and reduce the carbon footprint of their investments.
With increasing demands on Scope 3 data, stakeholders face the challenge of determining the climate impact of their investments and taking sustainable action to reduce it. Identifying improvement areas requires accurate emissions data from portfolio companies. However, obtaining this data can be a significant challenge as many portfolio companies lack the proper tools, resources, and knowledge to report the required information.
Worldfavor’s CO2e Emission Calculator aims to solve this problem. It was designed to help investors empower their portfolio companies to take ownership of emission calculation by giving them a tool to understand, measure and report their emissions. The tool offers guidance to portfolio companies, allowing them to filter data to learn what emissions factors are most commonly applied to their sector. It presents the data in a neatly visualised way, enabling companies to view their total emissions or focus on the emissions from specific activities.
In addition, the tool assists portfolio companies in exporting and converting their insights into organised spreadsheets that can be easily shared with investors and other stakeholders.
“At Worldfavor, we believe that sustainability is essential to the success of any business. We are excited to provide the CO2e Emission Calculator to our customers and look forward to the positive impact it will have for companies and investors seeking to reduce their carbon footprint,” stated Andreas Liljendahl, CEO at Worldfavor.
Worldfavor is a global platform for sustainable business decisions. The company was founded in 2016 based on the idea that every person and business can create a difference by making sustainable decisions. Worldfavor has experienced extraordinary growth since the launch and has seen year-on-year surges in user uptake.
Ever since the start, Worldfavor has attracted leading organisations, and the company is proud to have clients in industries from food to finance, ranging from medium-sized enterprises to Fortune 500 companies. Prominent clients include Nudie Jeans (frontrunner in sustainable denim production), IK Partners (European private equity advisory group with Nordic roots, operating across Northern Europe), Systembolaget (the Swedish monopoly for alcohol), Oatly (Swedish food company that produces oat-based alternatives to dairy products), Oakley Capital (private equity investor) and Grant Thornton (one of the world’s largest accounting and consulting firms).