HICX & DitchCarbon to Share More Carbon Data for Procurement
HICX, the leading supplier experience platform, that helps Global 5000 companies take control of their supplier data, and DitchCarbon, a leading provider of emissions intelligence, have teamed up to help businesses better meet the challenges presented by Scope-3.
Through this new partnership, businesses can supplement their supplier data with specialist data relating to carbon emissions. This will give procurement and sustainability teams the knowledge to make carbon-conscious decisions.
“We are excited to build this trusted data source into our platform because it will help our customers to gain an even clearer view of their supply chains,” says Costas Xyloyiannis, HICX’s CEO.
“This is absolutely key to them remaining resilient. In today’s environmentally-conscious world, those leaders who can manage sustainability risks and seize opportunities will thrive - and success in this area comes down to data quality.”
How the system will work
According to its LinkedIn, HICX users include Unilever, Mars, and Heineken, who choose to have their master data supplemented, will receive a carbon score on each supplier.
This score is created by DitchCarbon, which pulls a list of all its suppliers before using AI to find information on them – such as public disclosures, CDP, and SBTi statutes.
Based on these and around 40 other factors, this information is organised to generate a carbon score. This score and the required emissions data, will be sent back into the supplier ‘golden record’.
This partnership aims to save procurement teams from having to gather the carbon data themselves by surveying suppliers or searching directories. Further, they will find the carbon score updated quarterly within their master data.
Why does procurement need this?
“Procurement teams need this data, and most of all they need it in the tools they already use,” adds Marc Munier, Founder of DitchCarbon.
“Onboarding can be a real pinch point for procurement teams keen to onboard the right suppliers. Using the DitchCarbon score means no need for extensive surveys. It speeds up the process, which is good for internal stakeholders as well as emissions goals.”
HICX will offer an ‘action module’ with which businesses can manage their suppliers’ carbon performance through automatic actions linked to defined thresholds. For example, what actions a supplier should take to reduce their emissions.
The partnership is also likely to spur collaborations between HICX and other external data providers such as specialists in cybersecurity, ISO renewals, sustainability, and risk, as the platform grows from strength to strength.
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