Reducing Audit Costs and Enhancing Carbon Accounting with IoT: A Private Equity Firm's Journey
Technology Category
- Infrastructure as a Service (IaaS) - Private Cloud
- Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries
- Finance & Insurance
Use Cases
- Asset Lifecycle Management
- Continuous Emission Monitoring Systems
About The Customer
The customer is a top private equity firm based in North America, known for its leadership and innovation in the field of private equity and impact investing. The firm has consistently set the bar for investment and operational excellence and has redefined the impact investing space. It has a steadfast commitment to understanding and managing its environmental impact, which includes its own operational carbon footprint and the impact of its vast portfolio investments. The firm was seeking a solution to streamline its complex carbon accounting process and provide visibility to make actionable decisions related to carbon.
The Challenge
The private equity firm, a pioneer in impact investing, was committed to understanding and managing its environmental impact. This included understanding its operational carbon footprint and the impact of its vast portfolio investments. However, the firm faced challenges in calculating its carbon footprint. It relied on consultants for this task, but the process was complex and fraught with difficulties. The firm grappled with disparate data sources, the inability to manage vast quantities of data in a centralized way, and the inability to drill down into the primary drivers of emissions. It needed a solution that streamlined the complex carbon accounting process and provided visibility to make actionable decisions related to carbon.
The Solution
The firm partnered with Persefoni, a leading SaaS carbon accounting company, to overcome its challenges. Persefoni's technology offering was the first the firm's leadership team had seen that was capable of enabling rigorous Greenhouse Gas Protocol and Partnership for Carbon Accounting Financials calculations all in one place. By leveraging Persefoni’s expertise with the Partnership for Carbon Accounting Financials (PCAF) methodology and the platform’s ability to easily scale across its entire portfolio, the firm was able to analyze and streamline the calculation, audit, and assurance processes of its operational carbon footprint and financed emissions across its investment holdings. The firm now has an established approach for sourcing and calculating emissions from business travel, employee commuting, energy consumption, and owned and operated assets. These inputs are used for integrating carbon footprint data into internal and external ESG reports and other disclosure frameworks.
Operational Impact
Quantitative Benefit
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