NEW YORK, March 8, 2023 — Today Deloitte announced the launch of GreenLight Solution by Deloitte, an enterprise decarbonization Software as a Service (SaaS) solution composed of a modular system of tools that helps empower organizations to take action at every stage of their decarbonization journey.
Paired with Deloitte’s decades of sustainability and climate client service experience, GreenLight Solution helps organizations unlock a clear, optimized, actionable decarbonization roadmap that can be integrated into their broader business strategy and existing technologies.
“Many business leaders around the world are feeling the impacts of climate change on their organizations and are working to set ambitious sustainability targets, but they need comprehensive, validated data and insights to take concrete steps toward decarbonization,” said John Mennel, sustainability strategy leader and managing director, Deloitte Consulting LLP. “Even as economic and technological factors change, this solution can enable companies to build a complete picture of their roadmap, understand how to prioritize projects based on economics and time horizons, and update that view continuously as real-world conditions change.”
Harnessing the power of accurate data and insights
GreenLight Solution is a SaaS-based cloud solution built on CortexAI — a cutting-edge, scalable, artificial intelligence (AI) platform for data management and analytics. This first release comprises seven integrated flexible-use software assets and incorporates one of the largest global data libraries, including 150,000 emissions factors and 200 real-world tested emissions abatement projects including projects for hard-to-abate activities and commodities like maritime and air travel, steel manufacturing, and others. The platform also includes advanced data automation and transformation capabilities, and leverages a large ecosystem of technology companies to integrate with an organization’s preferred enterprise system.
The solution provides insight into the potential financial impacts associated with different climate action initiatives, including access to resources from a global credits and incentives hub covering 16,000 programs in 70 countries that can help identify tax credits and incentives by category, solution or geography. By employing optimization algorithms to establish a portfolio of opportunities, GreenLight Solution helps organizations determine the right sequencing of projects to achieve decarbonization targets balanced against business goals.
“Organizations are grappling with an overwhelming amount of data as they develop their decarbonization strategies. By leveraging cutting-edge climate technology, leaders are able to view a clear picture of their roadmap to achieving their net-zero targets, gain previously untapped insights required to make informed investment decisions, and ultimately make tangible progress to accelerate their sustainability journeys,” said Jennifer Steinmann, Deloitte Global Sustainability & Climate practice leader.
Enabling a business imperative
Many organizations are facing growing pressure from investors, regulators, consumers and internal stakeholders to set ambitious carbon reduction targets and implement abatement strategies. According to the Deloitte 2023 CxO Sustainability Report, many CxOs ranked climate change as a “top three issue” and 75% said their organizations have increased their sustainability investments over the past year. However, moving from strategy to action can be overwhelming and confusing, and over a third of organizations haven’t implemented more than one of five “needle-moving” sustainability actions.
Regardless of industry, the shift to a low-carbon future will likely require increasingly sophisticated approaches to benchmarking, near real-time data on operations and value chain and a continuous connection to new technologies, especially for the commodities and processes where greenhouse gas reduction is most challenging.
“One of the biggest issues business leaders face is sourcing and finding the fit-for-purpose technologies that can support their specific decarbonization needs,” said Dilip Krishna, Deloitte Global Sustainability & Climate chief technology officer. “As a true enterprise solution for decarbonization, GreenLight Solution is grounded in real world project experience and built on a vision to combine technology, Deloitte services, and an ecosystem of alliances. It is uniquely positioned to tackle this challenge and help our clients feel confident in their ability to take concrete steps to move from strategy to action.”
GreenLight Solution is Deloitte’s latest investment in the climate technology space, following the recent launch of GreenSpace Tech, an industry-leading initiative spearheaded by entrepreneurs and climate specialists to scale climate technology solutions.
To learn more about Deloitte’s enterprise decarbonization SaaS tool, GreenLight Solution, please visit: https://www2.deloitte.com/us/en/pages/about-deloitte/solutions/greenlight-solution.html.