Sphera®, a global provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services, has been named a leader in the carbon management software market by Verdantix, an independent analyst firm, in its newest Green Quadrant report.
The Green Quadrant Carbon Management Software report aims to help organisations 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 17 capability and 10 market momentum categories. The analysis was also based on a 2-hour, live brief and product demonstration, vendor responses to 103 questions and customer interviews.
Sphera was awarded the highest score among vendors for carbon emissions calculation engine, data modelling for both Scope 3 upstream and downstream and carbon disclosure management. Sphera’s strong capabilities in the storage, sourcing, calculation and coverage of emissions factors were noted by Verdantix. Sphera’s Product Sustainability LCA Database (formerly GaBi), which covers over 15,000 datasets and contains LCA models for more than 700 grid mixes across 92 countries, was cited as a key differentiator. According to the Green Quadrant report, “Sphera is particularly well-positioned to serve firms in need of understanding their products’ carbon footprints and identify emissions hotspots within the supply chain,” and that Sphera “offers pre-built data models for upstream and downstream Scope 3 calculations.”
Sphera also received top scores for net-zero strategy development, data acquisition and data management, with automated data capture capabilities and integration with internal IT systems noted as key strengths. Additionally, Sphera received the highest score among vendors for carbon financial management. As noted in the report, “Asset managers and private equity fund managers can leverage Sphera’s financial data aggregation capabilities to collect information from different divisions, funds and portfolio organisations.” Just this year, the Blackstone Group, one of the largest private equity firms in the world and Sphera’s investor, integrated Sphera’s carbon accounting solutions into its emissions reduction program, which seeks to reduce carbon emissions by 15% across a number of Blackstone’s portfolio companies.
“We are very proud to be recognised by Verdantix as a leader in carbon management software,” says Paul Marushka, Sphera’s CEO and president. “Sphera is committed to helping our customers develop robust, science-based net-zero targets that are measurable, actionable and auditable. And we’re excited to see the acknowledgement and validation of our solutions that have been adopted by leading companies across industries. Bringing innovative solutions to market that enable organisations to assess their emissions baseline, accelerate their decarbonisation efforts and improve corporate sustainability performance is critical to our mission of creating a safer, more sustainable and productive world.”
Carbon accounting is an essential part of any climate strategy. Sphera’s carbon accounting and reporting solution enables companies to easily collect GHG emissions data, automatically calculate their organisation’s carbon footprint, address and solve Scope 3 quantification challenges and respond to a multitude of reporting frameworks and stakeholder initiatives. The report also noted that for companies wanting both software and consulting from one firm, “Sphera offers an integrated solution, incorporating software, data and consulting expertise. [Its] sustainability consultants advise clients on defining net-zero objectives and strategies that are then tracked in the software.”