SkyMind DECARBONIZE: New Reporting Tool Unveiled

SkyMind DECARBONIZE: New Reporting Tool Unveiled

As the pharmaceutical industry grapples with pressing environmental challenges and growing costs, companies are recognizing the importance of factoring the cost of CO2 emissions into their cost analyses. Alongside this, the EU’s Corporate Sustainability Reporting Directive (CSRD) comes into force this year. Large and small companies operating in the EU, including pharma, will need to report on Scope 3 emissions (indirect emissions) and show plans for reduction.

However, due to the increasing complexity of the modern supply chain and problems accurately measuring and analyzing emissions data, the industry needs an innovative solution to measure CO2 emissions.

In response, SkyCell is delighted to announce the launch of our new free CO2 calculation and reporting tool as part of our SkyMind DECARBONIZETM module. Based on a study by MIT University’s Centre for Transportation and Logistics, DECARBONIZETM sets a new standard for accurate emission monitoring. This tool will empower pharma companies to accurately measure CO2 and pinpoint areas of reduction.

The need to accurately measure CO2 emissions

As environmental concerns intensify, reducing CO₂ emissions addresses environmental necessities and represents a significant financial factor. For example, a larger pharma company emits approximately 10 million tons of CO₂ annually. To compensate for this with an average cost of $100 per ton, it will cost $1 billion annually. Therefore, reducing CO₂ is also a very effective way to save costs.

Total Cost of Ownership (TCO) has long been a cornerstone of decision-making in the pharmaceutical industry. Originally focused on costs and risks, the traditional TCO equation has evolved to incorporate a crucial third dimension: CO₂ emissions. As a result, the new formula for TCO is Cost + Risk + CO₂.

Pharma companies need to find an optimal solution for this new TCO formula, Cost + Risk + CO, that maximizes cost efficiency and minimizes risk while implementing your CO reduction goals.

Big Data, Big Problems

SkyMind DECARBONIZE

Enter the SkyMind DECARBONIZETM reporting tool. Our new free carbon calculator and reporting tool is designed to empower companies to calculate and track their CO2 footprint and identify key areas for emissions reduction.

The calculator is integrated with our SkyMind platform, which can provide cost and risk simulations. Additionally, it offers insights into the CO2 footprint across various transportation modes such as trucking, ocean, and airfreight, showcasing progress and facilitating the tracking of improvements over time.

SkyMind DECARBONIZETM uses an emissions calculation methodology developed by MIT University’s Centre for Transport and Logistics and the Network for Transport Measures (NTM). This method is regarded as one of the most effective for determining carbon emissions levels.

With the release of this tool, we can support pharma companies in navigating this new TCO equation with confidence.

Take your first step toward net zero today

The time to act is now—to revolutionize the pharmaceutical industry and pave the way toward a sustainable future. Try now our new SkyMind DECARBONIZETM reporting tool for free today and take your first step toward net zero.

Alongside this, SkyCell will also be launching a paid service helping pharma companies and their suppliers to achieve their scope 3 reduction targets through education and consultancy services. This is based on our SkyMind platform and best practice lessons learned by SkyCell’s own 10-year journey to continuously reduce scope 1, scope 2, and scope 3 emissions.

Start reducing your CO2 emissions today with DECARBONIZETM .

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