Normative developed a free Carbon Legislation Tracker to help businesses stay compliant with fast changing carbon legislation in the EU, U.K., and U.S.
Businesses, consumers, and investors are increasingly interested in carbon footprints, and carbon accounting is a crucial topic. At the same time, legislation is becoming stricter and placing more responsibility on businesses to account for their emissions. Further, the opportunity cost for businesses is growing as customers are demanding net zero actions and carbon reductions from the brands they choose to interact with.
Staying competitive in the market and complying with existing legislation are two reasons why businesses measure and reduce their emissions. The free legislation tracker helps businesses navigate the overwhelming landscape of existing and upcoming regulations. Share some simple information about your business, including region, industry, and size, and the tracker will showcase the regulations that the business is obligated to follow.
“Staying up to date with the changing legislative environment can be tricky,” said Kristian Rönn, CEO and co-founder of Normative. “That is why we developed the tracker — to make carbon accounting accessible and easy for all businesses.”
Being at the forefront of measuring and reducing emissions is good for business, and it also helps avoid risks. The risk of not complying with legislation could be hefty fines, reputational harm, and the loss of government contracts, formal bids, or request for proposals.
The Carbon Legislation Tracker covers existing and upcoming legislation in some of the main markets for many businesses, including the following.
- The EU’s CSRD, which will require all large EU businesses to report their full scope 1, 2, and 3 emissions.
- The U.K.’s TCFD and SECR, requiring all large U.K. businesses to report emissions, including scope 1, 2, and (in the case of TCFD) very often also scope 3.
- The SEC’s recent proposal that would require all publicly traded U.S. companies to disclose scope 1, 2, and typically also scope 3 emissions.
The Carbon Legislation Tracker will be continuously updated to deliver a real-time snapshot of the legislative environment.
Normative, the organization behind the tool provides science-based carbon accounting software and tailored advice from net zero experts, enabling companies to reduce their carbon footprints. Normative partners with leading climate change organizations including the UN. The company has also partnered with Google to deliver actionable sustainability intelligence. Normative is backed by some of Europe’s most significant climate investors, and is the official software provider for the UN-backed SME Climate Hub initiative through which thousands of small businesses have committed to net zero.
“Many businesses want to do well but lack the resources or knowledge to do so, and this can result in involuntary greenwashing,” Rönn said. “At Normative, we want to help enterprises and their value chains to do the right thing with accurate and truthful carbon emission accounting.”
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