The cost of tracking greenhouse gases

There has been some debate and there will be continued debate as more and more legislation is passed over the cost to businesses, thus consumers, of tracking greenhouse gas emissions.

While I agree that, from the outside, the initial reaction and commonplace approaches for developing a carbon footprint look daunting, overbearing, bureaucratic and expensive, the reality is the following:

1. A "footprint" is a baseline. Without a good strong baseline, there can be no saving, no reduction, and no monetization of carbon.

2. Most other parts of the business have metrics, goals, tracking, and management.

3. A carbon footprint, following The Climate Registry General Reporting Protocol for Scope I and Scope II emissions, is made up of data that should be tracked in the business already!

4. By accumulating the data required for a carbon footprint, not only does a company, or individual gain insight into their emissions and environmental impact, they can gain further knowledge allowing them to make decisions affecting their emissions and their business.

5. Through the use of automation and linking of disparate pieces of data, a carbon footprint can be developed at a very low cost, and a very low pain threshold to the business. This requires a different way of looking at accomplishing the establishment of a baseline and on-going tracking. We call this moving from "one-time" to "over-time."

Verisae is in the business of moving the establishment of a footprint, and on-going tracking of emissions from a "one-time" to "over-time" and eliminating, or severely limiting the "pain" of the on-going tracking of a carbon footprint.

The reduction of the cost associated with the data gathering and reporting of greenhouse gas emissions will be a critical factor in the wide-spread adoption of reporting as well as accelerating efforts to push the tracking of emissions from upstream emitters like utility companies and cement production downstream to commercial buildings, large companies, and eventually all businesses. From my estimation, for a single company, a small "Mom and Pop" business, it should cost no more than $350 annually to report emissions! That's it. That includes verification!

Reporting and third party verification doesn't need to be an arduous, drawn-out and expensive consulting task. Sure, the initial footprint may require outside help but let's stop treating this like a theoretical experiment we do once to the full incorporation of tracking in the everyday scope of business. It's possible and it reduces the costs associated with this to a very small incremental cost.

Now, what's the benefit?

The benefit is the outcome of a really good baseline results in the ability to reduce emissions from that baseline either in the normal course of business or through a specific carbon reduction project. Those reductions can be MONETIZED! Those reductions can result in revenue that offset the cost of the reduction. Those reductions can have a high ROI, minimal impact on operations, and can support the environmental and sustainable goals of the business.

As Europe quickly moves towards a cost of $50 USD/MT CO2e, the reduction of carbon creates a meaningful way to generate revenue for a business. There is an opportunity present right now to get in early, create revenue, and meet sustainability goals.

Education is what is currently lacking. So, get educated! No time like the present!.