The unprecedented Paris climate accord is expected to bring additional focus on most or all sustainability initiatives by companies, and require additional tracking and reporting efforts, said executives at Source Intelligence (SI), a global compliance solution provider.
The Paris climate accord includes commitments from 186 of the 195 signatory countries to cut or limit the growth of greenhouse gas emissions, as well as more transparent reporting. These countries, in turn, are expected to place additional requirements on companies to reduce their overall carbon footprint, SI officials said.
“Already, just days after this historic accord, there are calls for stronger and lasting due diligence to ensure the goals and ideals of this pact will be fulfilled. This means continued and heightened focus on companies based in the European Union, in the Asia-Pacific region as well as the United States to carry out even more sustainability initiatives or increased reporting of these efforts,” said Jess Kraus, Chief Executive Officer of Source Intelligence. “The pressure for accurate and thorough reports will only increase.”
Source Intelligence, whose roots were in carbon reduction solutions, has now emerged as the global leader for supply chain transparency and reporting. Having created a scalable technology supported by a 24/7 multi-language engagement team and the world’s largest supplier data base, SI is currently providing an invaluable resource to many of the world’s largest brands facing a variety of compliance matters. These include mandatory conflict mineral reporting in the U.S., restricted substances reporting in the EU, human trafficking on a global basis and more.