Calculating the carbon footprint will be more accessible for companies thanks to digitalization. Frank Bold experts have been involved in the new platform

An innovative digital solution that will help small and medium-sized businesses in particular to collect the various data needed to calculate their carbon footprint, which is key to sustainability measurement and reporting and ESG reporting, was introduced today by Impact Metrics. Frank Bold's experts were involved in the creation of the platform.

Already this year, two and a half years before the CSRD (Non-Financial Reporting Directive) comes into force, large companies are demanding sustainability data from their suppliers or banks from their corporate clients. Complying with these requirements is relatively expensive and time-consuming, and often out of reach for smaller and medium-sized companies.

Impact Metrics is therefore purposefully developing new software in collaboration with the Frank Bold expert group and LCA Studio experts that enables companies to start the whole process, in particular to calculate the carbon footprint, which is a stepping stone for setting relevant sustainability targets or for preparing the ESG report itself.

For the creation of this digital solution, we at Frank Bold have used the many years of experience we have already gained working on the topic of corporate responsibility. In order to be able to address this area on the international stage, we have also set up an office directly in Brussels.

‍"We are the only consultant in the Czech Republic who are directly involved in the entire process of legislation creation, and thus we have a unique position in the market. Therefore, we can provide our clients with the most up-to-date information that gives them a competitive advantage. In creating this platform for companies, we have ensured that everything is indeed fully compliant with the new European ESG legislation," says Pavel Franc, CEO of Frank Bold Expert Group and its consulting division Frank Bold Advisory.

"In our sustainability consulting practice, we have found that due to its complexity and scope, sustainability is more for the "chosen few", i.e. companies with large consulting budgets. Our ambition is to help not only them, but especially smaller and medium-sized companies. For them we have purposefully searched for affordable solutions. We would like to provide them with guidance, tools and data with which they can monitor and report on sustainability themselves. Now is the time to get started. There is a lot of opportunity for companies so far, but in the future it will become a mandatory standard," explains Dan Heuer, CEO of Impact Metrics.

Impact Metrics completed the work on the platform after a year of intensive development with the help of experts from the Frank Bold expert group. LCA Studio, which specialises in carbon footprinting and life cycle analysis, added its know-how.

Calculating the carbon footprint only begins the process. The topic of ESG is much broader and most companies are only at the beginning of the journey. "ESG reporting directly affects mainly large companies. Indirectly, however, it will also affect many medium-sized and smaller companies that are in supply chains - in the Czech Republic typically mainly in the real estate, automotive, banking and insurance sectors. However, companies need to understand why and how to engage in sustainability reporting in the first place. At the same time, they will find out how to get the tools available to them so that they can achieve real savings through ESG reporting or better financing from banks that will increasingly favour sustainable investments," adds Pavel Franc.

Sustainability is a very dynamic topic. While until 2021 it was more of a philanthropic activity, today companies are beginning to understand that it is not only a necessity, but often an interesting business opportunity. However, wider awareness is still lacking.

Companies can access the platform via www.impactmetrics.cz, where they can access their profile after logging in.