Faradai Introduces Faradai Sustain, a Net-Zero Emission Management Platform
Faradai is thrilled to launch its new net-zero emission management software, designed to assist organisations in tracking, analysing, reporting, and reducing their carbon emissions. Faradai’s innovative solution helps organisations achieve sustainability goals and improve environmental performance.
Faradai Sustain is a cross-sector solution that helps organisations set and track energy consumption and carbon emission targets while providing complete performance visibility. It enables organisations to collect, visualise, and analyse data and provides the necessary metrics to comply with various ESG and reporting frameworks, such as CDP, GRI, or TCFD.
The solution already adopted by central banks and industrial sectors such as cement assists organisations in meeting the requirements of mandatory reporting frameworks and international standards, including the UK’s SECR (Streamlined Energy and Carbon Reporting), PAS 2060 for carbon neutrality, ISO 14064-1 for emission verification, and ISO 14001 for the environmental management system.
Faradai Sustain offers a range of critical features and benefits for businesses and organisations looking to address their carbon footprint and reach net-zero emissions. Some of them include the following:
- Building a complete emission inventory: The software enables organisations to map their emission activities and create a comprehensive list covering Scope 1, 2, and 3 emissions. The software includes over 2000 activity data points, such as energy, waste, water, transport, business travel, and supply chain, to help organisations understand and manage their emission sources.
- Automated data capture: The software can use IoT to collect usage data from physical devices and provide real-time, automated carbon emission reporting. It can also convert spend-based data into carbon emissions by integrating with accounting software like QuickBooks and Xero, saving time and reducing the risk of errors in manual data collection.
- Vast database of emission-factors library: The software simplifies calculations and ensures accurate results for users. It matches the most appropriate emission factor for specific organisational activities, reducing the workload, particularly for those with complex operations or operating in multiple sectors.
- Data quality, completeness, and transparency: The software performs a health check on data entered into the Platform to verify its accuracy. It compares the data with records and identifies any potential issues. Users can view the data entered against the evidence and share it with their consultants and auditors to meet auditing requirements.
- Sustainability reporting frameworks: Now, it is easy to access commonly used templates such as CDP, TCFD, and GRI, as well as create custom templates to include users’ own specific ESG queries. The Platform allows for flexibility and convenience, giving users complete control over their sustainability reporting process.
- Actionable insights: Managing data from multiple sites can quickly become overwhelming, but with Faradai Sustain, organisations can normalise and compare data from various locations to identify areas for improvement and reduce emissions. It benchmarks quantities consumed and standardises data to establish emissions intensity for better insights and a more realistic perspective, using indicators like floor area and the number of employees.
- Target setting and tracking: The Platform makes setting and tracking GHG emission reduction targets easy. Absolute or intensity emissions targets at the activity data level are available. Both track emissions relative to a base year and helps companies understand how much emissions must be reduced.
- Certified offsetting projects: The software provides access to certified, long-term offsets for any remaining unavoidable emissions after giving tools to reduce emissions. It also ensures that third-party groups, including CarbonPlan, BeZero, Verra, Gold Standard, Climate Action Reserve, and American Carbon Registry, verify all projects listed on the Platform.
Faradai Sustain offers a Freemium and Enterprise plan to meet the needs of any organisation, from small businesses to large enterprises. The Freemium plan includes most features with manual data capture, while the Enterprise version includes more granular, automated, customised data integrations and priority support.
“As businesses set Net-Zero and Climate Change targets, demand for our solution is growing. We’re offering a portion of our product for free to give businesses a head start on reducing their carbon emissions. But setting targets is only the beginning, and reaching Net-Zero requires real-time data intelligence,” said Sahin Caglayan, CEO of Faradai. “Our goal is to help organisations achieve their Net-Zero objectives by providing a more efficient and accurate way to measure and reduce carbon emissions.“
Try Faradai Sustian for FREE today!
As an academy spin-off company, Faradai got its first investment from US-based impact fund Capria Ventures in 2017 and commercialised its enterprise software platform. Faradai has performed multiple European Union FP7 and Horizon 2020 granted R&D projects to develop the IP and technology base of the Platform.
Faradai has established strategic partnerships with Cisco, Oracle, Atalian Global Services, ISS & Tech Data to provide joint product and service offerings. As of November 2022, Faradai has 150+ enterprise customers.
Currently employing 80 team members in 5 country offices (London, Singapore, Istanbul, Dubai, and Madrid), Faradai has been nominated by Digital Europe as one of the Future Unicorns and announced by Microsoft CEO Satya Nadella as one of the most impactful start-ups in the EMEA region.