Your CLIMATE News: best practices to decarbonize, exclusive CHOICE events and insights into our CLIMATE team!
New approach to decarbonising the supply chain: o2 Telefónica and The Climate Choice present joint climate data program at Climate Transformation Summit 202206/08/2022
- Start-up cooperation between o2 Telefónica and The Climate Choice presents groundbreaking concept and first results at ClimateSummit.de 2022
- Software-driven climate rating and digital data platform enable climate-relevant procurement and supplier engagement
- Online climate summit with over 1,000 international participants offered numerous further insights and best practices in corporate climate transformation
Berlin, June 8th, 2022 – Mobile phone manufacturer o2 Telefónica and Berlin-based startup The Climate Choice presented the first results of their lighthouse project on decarbonising the supply chain at the international Climate Transformation Summit 2022 (#CTS2022). The Summit brought together more than 1,000 decision-makers and interested parties from companies (including Siemens, SAP, IBM, Schneider Electric, Funke Mediengruppe, Vodafone, Nestlé, Hipp and Katjes) as well as politicians and academics on June 2nd and 3rd 2022 for a cross-sectoral transfer of knowledge on decarbonising companies and their supply chains.
Since up to 90% of all emissions occur in the supply chain, the central question of the event was: How can climate data be recorded comparably along the entire supply chain and used for CO2 reduction measures?
For this purpose, o2 Telefónica relies on The Climate Choice’s new software platform and uses it to collect climate-focused data from around 1,000 suppliers. The top 40 suppliers are also invited to complete a software-based climate rating to identify potential for reducing CO2 emissions. This digital and collaborative approach to decarbonization of O2 Telefónica in Scope 3 contains three essential steps: 1) prepare the data collection thoroughly; 2) support suppliers in the data collection; 3) analyze, share and use the obtained data for collaboration with suppliers on decarbonization.
Yasha Tarani, co-founder and managing director at The Climate Choice, describes the first step at the Climate Transformation Summit as follows: “Prior to data collection, businesses need to align internally with relevant stakeholders and develop a range of metrics and leading indicators that are important for the company. To measure and track supplier compliance with disclosure and data requirements, it is advisable to use already established internationally leading standards, such as the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).”
Theresa Wenning, Climate Performance Analyst at The Climate Choice, adds on the following two steps: ”Next, the actual data is collected from suppliers on relevant climate ESG topics. Using a single platform for data collection and asking standardized questions will help ensure that all information is centralized and that the data is formatted in a way that is easily referenceable year over year, for both the customer and its suppliers. In the third phase the data collected gets analyzed in order to uncover risks and start implementing supplier engagement in hotspot categories to enable strategic alignment. This phase involves driving tangible improvement with suppliers, often through co-creation of action plans, capacity building, training programs, incentives, and more.”
Using The Climate Choice’s new solution approach and software tool, o2 Telefónica was able to develop a transparent, scalable process for collecting comparable data on the climate maturity of its suppliers.
- Presentation and project report as part of #CTS2022 as video recording.
- Press release of O2 Telefónica on the start of the cooperation
Further highlights and learnings from the Climate Transformation Summit will follow shortly.