In a groundbreaking move to tackle the climate crisis, Planet FWD, the leading decarbonization platform for consumer companies, has just launched an AI-powered decarbonization platform specifically designed for the food and beverage industry.
With partnerships already in place with industry leaders such as Rodelle (an ADM company) and Compass Group, Planet FWD is poised to empower the world’s largest food companies to tackle the 34% of global greenhouse gas emissions attributed to food.
This comes at a pivotal moment when the consumer industry is responsible for over 60% of global emissions, with a third of that stemming from food systems and land use. With the clock ticking towards the 2030 climate goals outlined in the Paris Climate Agreement, addressing consumer industry decarbonization becomes paramount.
As we navigate a world grappling with the need for climate action, Julia Collins, Founder and CEO of Planet FWD, shared insights into the significance of their groundbreaking solution.
“It’s true that now is the time for climate action and there are a lot of mounting reasons why consumer companies are stepping up to the plate,” she said. Most recently, it was announced that California is sending bills to Governor Newsom’s desk around climate disclosure.
“These bills, SB 253 and SB 261 would require large companies doing business in the state to comply, regardless of where they are based. As of now, Governor Newsom is expected to sign these bills into law, which would dramatically change the need for companies to understand their climate emissions and report on them,” she reflected on some of the factors that are driving the momentum. Similar legislation is emerging globally, reflecting the growing climate risk for businesses and investors.
Moreover, public demand for climate action is escalating. Demonstrations like the massive New York City march in September and the belief of 82% of Millennials and Gen-Zers that brands should take responsibility for fighting climate change are clear indicators.
In light of these developments, the corporate world seems increasingly aware of the significant opportunities presented by decarbonization. A substantial 88% of the top 25 Food and Beverage companies have made Science-Based Targets Initiative (SBTi) commitments.
However, despite their willingness, many companies grapple with the complex nature of Scope 3 emissions, particularly those related to supply chains. “Consumer companies have the will, but they need help with the way. At Planet FWD, we’re unlocking the notoriously hard-to-measure Scope 3 emissions (aka supply chain emissions), showing companies the path to take to decarbonization and net zero goals,” Collins added.
“This is something we’ve seen growing for quite some time, companies are setting regenerative agriculture targets and communicating progress with their consumers. But to do so with the highest fidelity and credibility, they need deeper insights into their supply chains, which account for upwards of 90% of emissions for most companies,” she explained.
This is where Planet FWD’s proprietary, AI-powered decarbonization platform comes into play. It simplifies the intricate process of quantifying and mitigating a company’s climate footprint. Instead of relying on generic data and estimates, the platform swiftly models product-level emissions, tracing them from the farm to the compost bin.
Within just a few weeks, companies gain comprehensive insights into corporate emissions, spanning from office operations to the entire supply chain. This holistic approach allows consumer companies to assess both corporate and product emissions and identify reduction opportunities all within one platform.
Collins shared “Now, with our AI-powered decarbonization platform, companies like Compass Group, Rodelle, Blue Apron and Patagonia Provisions can rapidly understand where their emissions come from today and how they make improvements across their products and organizations as a whole.”
Planet FWD allows companies to understand exactly which parts of their supply chain are driving emissions down to the ingredient, supplier, and even farm level. CPG brands, food service providers, and retailers can now receive high-integrity, real-time results, whether they have 10 products or 10,000 and quickly move from insights into action.
Leveraging a comprehensive and industry-leading Life Cycle Assessments (LCA) database containing thousands of ingredients and materials, Planet FWD streamlines the process of conducting custom LCAs. Powered by AI and machine learning, it allows culinary teams to understand the emissions associated with thousands of products or meals simultaneously.
The platform’s efficacy is exemplified by its ability to help brands reduce carbon emissions per product by an average of 35%. Furthermore, it offers corporate decarbonization solutions aligned with GHG-protocol reporting standards for Scopes 1, 2, and 3 emissions, enabling strategic planning for achieving Net Zero emissions.
The platform meticulously measures various climate impacts, including carbon emissions, water usage, land utilization, and FLAG-related emissions, all in alignment with the most stringent global standards. Planet FWD’s dedicated team of climate scientists collaborates closely with sustainability leaders, guiding them on their journey to corporate emissions reduction.
Julia Collins emphasized the urgency of their mission, saying, “Household consumption is responsible for more than 60% of all emissions globally. A third of that comes from food systems and land use alone. That’s why we’re hyperfocused on helping the consumer industry measure and reduce its carbon footprint. We are already working with some of the world’s largest food and beverage companies, and are actively expanding our list of leading CPG and foodservice customers.”
Retailers and ingredient suppliers also play a big role in this ecosystem up and downstream, so Planet FWD is excited to further expand its customer base in this direction. Shortly, Planet FWD is planning to dive deeper into the broader consumer goods industry – from fashion to beauty and personal care. All these products create emissions, and Planet FWD is building robust and rigorous datasets to serve these markets.
As the world races to meet climate targets and address the environmental crisis, Planet FWD’s AI-powered decarbonization platform is positioned to be a transformative force within the consumer industry. By simplifying the complex process of measuring and reducing carbon footprints, it offers a tangible pathway toward a more sustainable and eco-friendly future, one where consumer companies can lead the way in reducing their environmental impact.