CarbonChain and thyssenkrupp Materials Services launch new solution for low-carbon metals procurement

LONDON, Jan. 29, 2024 /PRNewswire/ — thyssenkrupp Materials Services and CarbonChain announce partnership to advance low-carbon procurement with new carbon traceability and intensity tool.

• Suppliers and customers of thyssenkrupp Materials Services’ European materials distribution units can now access on-demand product carbon footprints
• Digital solution will provide carbon reports to inform better decision-making for low-carbon procurement
• Comprehensive “cradle-to-customer” calculations inform decarbonisation strategies across the supply chain

Powered by CarbonChain’s industry-leading carbon accounting software, thyssenkrupp Materials Services is enhancing its product carbon footprinting capabilities. The initiative sees an innovative traceability and carbon intensity tool rolled out to customers and suppliers of thyssenkrupp Materials Services’ distribution units Materials Eastern Europe as well as Materials Western Europe. 

The collaboration aims to strengthen industry standards for emissions transparency and data quality, providing more accurate carbon intensities faster. The tool will use asset-specific emissions factors and activity-based methods, instead of relying on global averages. This allows customers who are seeking lower-carbon materials to easily identify, compare and select them, while leveraging this data to build sustainable procurement strategies to achieve their net-zero goals.

CarbonChain’s comprehensive metals emissions database will be enriched with primary data from thyssenkrupp Materials Services’ suppliers, covering steel, stainless steel, aluminium and other metals. Globally these metals are responsible for around 12% of the world’s greenhouse gas emissions, yet there is significant variation and emissions reduction potential. For instance, the carbon intensity of one tonne of primary aluminium can be as little as 3 tonnes of carbon dioxide equivalent (CO₂e), or more than 28 tonnes of CO₂e, depending on the carbon intensity of the energy sources used and the type of production process.

thyssenkrupp Materials Services’ product carbon footprint reports will be provided on request, quote or delivery, and detail emissions breakdowns by lifecycle stage and source, offering clear insights into carbon hotspots and encompassing all greenhouse gas emissions from the point of origin till the gate of the customer.

Jörg Heiles, CEO Operating Unit Materials Eastern Europe said:

“thyssenkrupp Materials Services is committed to driving carbon transparency in the metals industry. Our enhanced product carbon footprint calculator will provide full supply chain transparency and intensity calculations, so that procurers can make more sustainable choices and prepare for carbon regulations that are spreading through metal supply chains.”

Adam Hearne, CEO and Co-founder of CarbonChain, said:

“Procurers can’t meet their net-zero targets without knowing the carbon footprint of the goods they buy. Meanwhile, metals producers who are decarbonising their industrial processes are facing barriers to quantifying and reporting their emissions reductions. thyssenkrupp Materials Services and CarbonChain are uniquely placed to bridge this gap and provide on-time, quality data for carbon-informed trade.”

ABOUT CARBONCHAIN

CarbonChain empowers companies to make climate-conscious decisions to accelerate action toward a net-zero economy. Its AI-empowered carbon accounting platform automates emissions tracking with accurate, granular, asset-level data for carbon-intensive supply chains, including metals, mining and manufacturing. CarbonChain’s methodology V0.94 has been validated by SGS and verified by Bureau Veritas for manufacturers, commodity traders and banks to unlock unrivalled insight into carbon-related risks and opportunities in near real-time.

Founded in 2019, CarbonChain is a CDP-accredited solutions provider and a proud member of ResponsibleSteel, Aluminium Stewardship Initiative, Minor Metals Trade Association and the Aluminium Federation. CarbonChain raised $10M in 2023 to support their ongoing expansion of carbon footprint technology globally, with a primary focus on scope 3 and supply chain emissions. www.carbonchain.com 

ABOUT THYSSENKRUPP MATERIAL SERVICES

thyssenkrupp Materials Services is one of the world’s leading mill-independent materials distribution and service providers with around 380 locations – including around 270 warehouse sites – in more than 30 countries. In the 2022/23 fiscal year, the company generated sales of € 13.6 billion and earnings of € 178 million. The versatile range of services offered by the materials experts allows customers to focus even more strongly on their individual core businesses. As part of its strategic further development “Materials as a Service” the company is focusing on the supply of raw materials and materials as well as products and services in the area of supply chain management. Digital solutions ensure efficient and resource-saving processes for customers and thus provide the basis for sustainable action. From 2030 Materials Services will operate on a climate-neutral basis. 

Source : CarbonChain and thyssenkrupp Materials Services launch new solution for low-carbon metals procurement

The information provided in this article was created by Cision PR Newswire, our news partner. The author's opinions and the content shared on this page are their own and may not necessarily represent the perspectives of Thailand Business News.