Siemens has developed a new tool to track the true carbon footprint of a product, considering both its production and its supply chain.
Its new tool combines emission data from the supply chain with the company’s own value creation to obtain the complete carbon footprint of a product.
The company has opened a new network that enables manufacturers, suppliers, customers and partners to exchange the carbon data for different stages of a product’s life cycle.
The tool has been launched to not only make it possible to quantify the full impact every product is having on the environment but also for companies to better understand their own impact – allowing them to set more precise targets to achieve carbon-neutrality.
CEO of Digital Industries Cedrik Neike, said: “All our customers share the desire to reduce the carbon footprint of their products – but to do so, they first need to know exactly the carbon emissions of their supply chain.
“They need to know which adjustments can save them the most carbon. [The tool] allows us to bring much-needed transparency to supply chains while protecting the confidentiality of the data. This technology can bring us a big step closer to our goal: a carbon-neutral industry.”