Planet FWD has launched a suite of tools designed to help CPG companies in measuring and reducing their environmental impact. This decarbonization emissions platform utilizes AI technology to streamline carbon modeling costs and accelerate decarbonization efforts across various markets, including dietary supplements.
One of the tools offered by Planet FWD is their Product Life Cycle Assessments (LCA) tool, which enables consumer companies to gain a deeper understanding of product and ingredient-level emissions. By leveraging AI and machine learning, this tool simplifies the process of conducting custom assessments and allows for the simultaneous measurement of thousands of products. Furthermore, the company can now quickly share customer supply chain data, making it accessible to companies without direct access to such information. On average, Planet FWD’s LCA tool can help brands reduce carbon emissions by 35% per product.
Planet FWD’s proprietary decarbonization platform, powered by AI technology, simplifies the measurement and mitigation process of a company’s climate footprint. It goes beyond relying on average data and estimates, instead rapidly modeling product-level emissions from farm to compost bin.
Emissions are classified into three scopes: Scope 1 comprises direct emissions controlled by a company, while scopes 2 and 3 encompass indirect emissions resulting from the company’s activities but occurring from sources beyond its control. Julia Collins, founder and CEO of Planet FWD, explains that their platform allows consumer companies to set net zero targets and reduce carbon emissions to meet sustainability goals.
As the first end-to-end climate solution for the food and beverage industry, Planet FWD enables brands, manufacturers, ingredient suppliers, food service providers, and retailers to measure their emissions across all three scopes. This platform also helps companies reduce their environmental impact and make credible sustainability claims in the market. Collins emphasizes that their platform makes it faster and more affordable for companies, regardless of their product range, to take climate action.
The recent enactment of climate-related reporting statutes, such as Senate Bill 253 and Senate Bill 261 in California, will have extensive impacts on the way businesses disclose their climate impacts. Furthermore, consumer demand for brands to take action is increasing, with 82% of millennials and Gen-Zers believing that brands should assume more responsibility in fighting climate change. By sharing their carbon footprints with customers and prioritizing sustainability initiatives, supplement companies can cater to these climate-conscious shoppers and avoid being left behind.
Planet FWD recognizes that the dietary supplements industry still has a narrow window of opportunity to combat the worst effects of the climate crisis. By serving multiple supplement companies like Ritual, their data continues to expand and strengthen. They aim to help supplement companies better understand the sources of their emissions and identify strategies to reduce their impact on the planet.
In conclusion, Planet FWD’s suite of tools provides the food and beverage industry with innovative solutions to measure and decrease environmental impact. With the increasing focus on sustainability, companies can utilize these tools to align with consumer trends, adhere to regulations, and make positive contributions to the planet.
