Greenhouse Gases

Greenhouse gases. SIGEA supporting emission reduction and climate change compliance strategies.

Highlights of

Greenhouse Gases

Manages, controls and reduces

Effectively measure your emissions today to reduce them in the future

Assigns responsible parties in the different scopes

Secure the loading of your own and your supply chain's emissions data

Evidence and traceability

Ensure the accuracy of data and track it in real time

Accessible and auditable information

Detailed visualization by scopes, responsible parties and emission sources

Greenhouse gases. SIGEA supporting emission reduction and climate change compliance strategies.

Through an international agreement reached at COP 28, the goal was set to achieve a 43% reduction in Greenhouse Gas (GHG) emissions by 2030 and a 60% reduction by 2035, compared to 2019 levels. Even more ambitious is the goal of zero carbon by 2050, which makes it imperative to adopt effective management tools such as SIGEA Software. Our tool allows us to collect a large amount of data in an automated way, in real time, in order to take concrete actions within tight deadlines.

The greenhouse effect

While it is an essential natural phenomenon, where certain gases in the atmosphere retain the sun’s heat allowing the temperature at the earth’s surface to be warm enough to support life, the greenhouse effect has become a central term in conversations about climate change and sustainability.

Greenhouse gases (GHG), such as carbon dioxide (CO2), methane (CH4) and nitrogen oxides (NOx), contribute to this phenomenon by trapping heat in the atmosphere. Increased human activities have intensified this effect and, as a result, have created an imbalance in the global climate.

CO2, which today represents one of the main GHGs, enters the atmosphere through the burning of fossil fuels, such as oil, gas and coal, or solid waste, such as trees and other biological materials. It is also the result of certain chemical reactions, as for example in the manufacture of cement.

Emission factor

Today there is an urgent need to reduce GHG emissions and mitigate the impact of climate change, so industrial development must be rethought, carefully managing production processes.

For this there is a measure that quantifies the impact of activities or processes in which GHGs are emitted, expressing emissions in terms of CO2 equivalents. This represents the Global Warming Potential (GWP), which makes it possible to compare the impacts of different gases on global warming .

This is how 1 ton of carbon dioxide (CO2) over a period of time, usually 100 years, is the benchmark for measuring the impact of other gases. The higher the GWP, the more a gas contributes to global warming over that period.

Along these lines, methane (CH4) has a GWP of 27-30 in 100 years, nitrous oxide (N2O) has a GWP 273 times higher than CO2 in 100 years, and its atmospheric lifetime is more than 100 years. The gases with the highest GWP are chlorofluorocarbons (CFCs), hydrofluorocarbons (HFCs), hydrochlorofluorocarbons (HCFCs), perfluorocarbons (PFCs) and sulfur hexafluoride (SF6).

In this sense, SIGEA Software helps to make this calculation of GHG emissions through automated data processing. This information is necessary to make decisions about reducing emissions in the different processes, which are segmented by type of scope.

Scope

A company’s production processes are not only what happens inside its offices or factories, but also in the procurement of supplies or logistics from the beginning to the last mile. In order to manage emissions in all processes, we differentiate them by scope.

Scope 1: These are the company’s direct emissions.
Scope 2: Emissions from energy consumption
Scope 3: Emissions in the Supply Chain

SIGEA Software allows organizing, extracting and processing various data, from direct emissions sensors, in the case of Scope 1, to fuel consumption of vehicles related to suppliers, as it could be in Scope 3.

All this, visualized in an orderly manner and with access to the different decision makers and decision makers.

Standards and regulations

One of the most widely used standards so far is the Task Force on Climate-Related Financial Disclosures | TCFD) of the Financial Stability Board (FSB ) , which created this working group on climate-related financial disclosures in 2015 to improve and enhance reporting in this area.

Following the publication of the Task Force’s 2023 Status Report, at the request of the FSB, the TCFD was dissolved, giving way to the ISSB (International Sustainability Standards Board) Standards , which mark the “culmination of the TCFD’s work”.

Some companies may still be required to use the TCFD recommendations. Use of the recommendations is a good entry point for companies as they move towards using the ISSB Standards.

There are additional requirements in IFRS S2, such as companies disclosing industry-based metrics, disclosing information on the planned use of carbon credits to achieve their net emissions targets, and disclosing additional information on their financed emissions.

As explained by the FSB, the incorporation of the TCFD recommendations into the ISSB Standards provides further simplification of the so-called “alphabet soup” of disclosure initiatives for companies and investors.

The Financial Stability Board has also asked the IFRS Foundation to take over the monitoring of the progress of companies’ climate-related disclosures by the TCFD.

To quantify emissions and comply with environmental regulations, it is essential to keep up to date with best practices and regulations to contribute to the well-being of the planet.

Greenhouse Gases

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