Management consultancy Bain & Company has announced a strategic partnership with Terralytiq on the development of tools to enable businesses to identify and reduce emissions along their supply chain.
Terralytiq, a supply chain decarbonisation solutions provider, is focused on eliminating one billion tonnes of emissions by 2030, and is combining its AI-powered platform with Bain’s industry and strategic advisory expertise, to help companies tackle Scope 3 emissions.
The two companies will co-develop a set of tools that will provide firms with the capabilities needed to identify emissions reductions at a granular level, create supplier- and facility-specific product carbon footprints based on procurement data, and automate supplier outreach.
‘The next level’
“Bain has had a strong relationship with Terralytiq since its founding and we are excited to take our partnership with them to the next level, as we help businesses create commercial value through delivering their sustainability goals,” commented Torsten Lichtenau, senior partner and global head of Bain & Company’s Climate Change and Decarbonisation solution.
“Scope 3 emissions are notoriously difficult to both measure and abate. This strategic partnership will give our clients access to enhanced analytics tracking capabilities backed by Bain proprietary benchmarks and strategic insight, turning raw data into board-ready cases aimed at informing business leaders who are working to crack Scope 3 and beyond.”
According to Terralytiq, early adopters of its solutions have reported up to a 70% reduction in data-collection time, as well as being able to realise significant cost savings.
“We are thrilled to be partnering with Bain at a global level to remain at the forefront of worldwide decarbonization efforts, providing valuable insights to executives tasked with hard wiring resilience into their value chains as they simultaneously cut emissions,” added Alexander Pfeiffer, co-founder and CEO at Terralytiq.
As the company noted, as many as 100,000 companies around the world face the challenge of decarbonising their supply chains. Read more here.
