Sphera holds a strong position as a market leader for carbon management software in the independent analyst report — with its robust Scope 3 modeling and product decarbonization capabilities highlighted
CHICAGO, IL (November 30, 2023) – Sphera®, 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.
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.
Sphera earned a perfect score for product strategy, which examines a vendor’s carbon management strategy for the next two to five years and product roadmap. Sphera’s Carbon Management solution —built on a SaaS platform consisting of SpheraCloud Corporate Sustainability, Environmental Accounting and Product Sustainability — enables companies to collect Scope 1, 2 and 3 carbon emissions data, automatically calculate their organization’s carbon footprint and respond to a multitude of reporting frameworks and stakeholder initiatives.
Sphera received the top score for net-zero strategy development — 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’s integrated solution is notable for “features that track decarbonization program metrics (costs, savings and payback periods), analyze ROI against marginal cost abatement curves and enable progress-tracking with auditability.” The report also notes that Sphera’s solution “allows customers to model and share optimal decarbonization scenarios across business units such as procurement, logistics and production, enhancing collective efforts towards net-zero targets.”
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 “Sphera 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.” It’s also noted that Sphera’s solution allows custom benchmarks to be defined using any parameter or KPI, such as CO2 per revenue dollar.
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 “its hotspot identification and extensive database of life cycle assessments.” For downstream financed emissions management, Sphera offers “comprehensive Scope 3 emissions data tailored to financial entities, using granular, bottom-up data collection techniques.” Sphera’s carbon accounting solutions are integrated into the emissions reduction program of the Blackstone Group — one of the largest private equity firms in the world and Sphera’s investor — which seeks to reduce carbon emissions by 15% across a number of Blackstone’s portfolio companies.
“Carbon 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,” said Paul Marushka, Sphera’s CEO and president. “With 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 net-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.”
“The carbon management software market is growing with more firms making net-zero commitments and participating in voluntary and regulatory reporting,” said Adam Barnard, principal analyst at Verdantix. “Verdantix 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.”
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About Sphera
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). For 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. Learn more about Sphera at www.sphera.com. Follow Sphera on LinkedIn.
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Denise Jones, Marketing Communications Manager, Sphera, djones@sphera.com