Financial services and solutions provider Apex Group announced today the launch of its new Carbon Footprint Assessment & Reporting service, aiming to enable private companies and funds to measure the sources of emissions, implement plans to reduce carbon footprint and provide a mechanism to offset any residual emissions.

Collecting all relevant data on a secure ESG online software platform, and using over 1 million individual emissions factors, the service identifies, quantifies and tracks emissions across Scopes 1, 2 and 3, encompassing companies’ direct, indirect emissions, as well as those that occur as a result of company activity, but from sources that are not owned or controlled, such as business travel or use of sold products.

According to Apex, the service simplifies reporting requirements, following industry best practice reporting standards and regulations, such as the TCFD, CDP, GHG Protocol, SFDR, DEFRA, and EPA, among others.

Andy Pitts-Tucker, Managing Director, Apex ESG Ratings & Advisory said:

“Beyond the moral and fiducial argument for reducing carbon emissions, there are now increasing commercial and regulatory pressures creating new risks to the bottom line. All companies must quantify and understand their carbon footprint in order to create and articulate an action plan to reduce their carbon emissions – and this new tool provides our clients with an efficient, accurate and accessible way to achieve this.”

The new service is being launched as private markets investors are seeing increased need to address the carbon footprint of their portfolios, while action on this front lags. Along with the announcement of the new service, Apex released the results of a survey of 358 private equity leaders on their approach to climate change and also how they are quantifying and reducing their emissions.

Among the key findings of the survey, 81% said that their company and their portfolio companies should be taking greater responsibility for their carbon footprint, and 75% agreed that a carbon reduction plan is seen as ‘advantageous’ by key stakeholders, like employees and clients. Despite seeing a need for action, only 44% reported currently measuring their own carbon footprint, and only 50% measure the carbon footprint of their of their investments.

Peter Hughes, CEO and Founder of Apex Group said:

“I feel strongly that climate change is not an issue to be solved by politicians alone, we as private companies and individuals all have a responsibility to take immediate action to understand and reduce our impact on the environment. The pressure on businesses and investors is gathering momentum and will be accelerated by all world leaders meeting at the UN COP26 this November. The time to drive positive and measurable change is now.”

The post Apex Group Launches Service to Measure and Report Carbon Emissions for Private Companies and Funds appeared first on ESG Today.