THINGSPIRE TO MAKE SCOPE 3 CARBON ACCOUNTING ACCESSIBLE TO ALL

KUALA LUMPUR, Nov 24 (Bernama) -- Thingspire, a Korean decarbonisation startup, has initiated its research with Korea Advanced Institute of Science and Technology (KAIST) on environmentally extended input-output (EEIO).

Designed to facilitate organisations of varying sizes to effectively measure and report its Scope 3 emissions on purchased goods and services, Thingspire adopted a novel approach of cross-validating Korean Standard Industrial Classification (KSIC) subcategories against physical data.

As stricter reporting and reduction standards emerge, the often resource-stricken Korean small and medium sized enterprises (SMEs) are left to cope with the downstream pressures such as Carbon Border Adjustment Mechanism (CBAM) and Climate Corporate Data Accountability Act.

Offered as both application programming interface (API) and cloud-based web service, Thingspire’s carbon accounting software, “Carbonscope”, is already filling this void by onboarding SMEs across major industrial complexes in Korea.

“Carbonscope was designed to exceed sustainability metrics for even the smallest organisations outside the regulatory framework.

“We aspire to empower SMEs, and multinationals alike, in cementing their place in the market, instead of being baffled by global carbon regulations,” said its Founder, Kwangjae Cho in a statement.

Aimed at generating 381 or more emission factors, this research will produce the first set of spend-based emission factors that are uniquely tailored for seamless integration with any existing enterprise resource planner (ERP) in Korea, thereby helping organisations to measure and report Scope 3 emissions at ease.

Thingspire’s spend-based emission factors from this ongoing research will complement its existing global emission factors database, which has its core strength in Asia Pacific coverage and can serve as a benchmark for both sustainability and purchasing managers to meet their sustainability key performance indicators (KPIs).

Hundreds of SMEs have already begun measuring their carbon footprints to secure their place in the global supply chain, using industry-specific data entry forms prepared by carbon analysts.

To be showcased at the upcoming ENLIT Europe 2023 in Paris between Nov 28 and 30, Carbonscope seeks to establish its presence in the European Union market and beyond.

-- BERNAMA