The focus on environmental and societal challenges has made companies, investors, consumers, and other stakeholders more conscious of sustainability matters. 💡 Over the past decade, new global initiatives and government regulations have pushed companies to be more transparent about their sustainability efforts. Reporting on sustainability is crucial, not only for large multinationals but also for smaller companies to remain in the market and to build a more sustainable economy. During the Sustainability Reporting program, you'll... ✅ understand materiality in sustainability reporting ✅ become familiar with the common voluntary standards and frameworks in sustainability reporting ✅ learn the quality principles of sustainability reporting and the key elements to assurance of sustainability reports ✅ and explore the upcoming regulations and standards developing in Europe Learn more: https://lnkd.in/grnsz3Zv #sustainability #regulation #reporting #CSR #sustainablebusiness
Aalto University Executive Education and Professional Development’s Post
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As professionals dedicated to advancing sustainable business practices, it's essential to critically assess the tools at our disposal. A recent article from CNA delves into the complexities and real impact of sustainability reporting. Sustainability reports aim to provide a comprehensive view of a company's value creation over time, covering economic, environmental, and social dimensions. However, despite these efforts, skepticism remains. With only 24% of top executives seeing clear value in sustainability reporting, it prompts a crucial question: Are we doing enough to drive genuine change, or are we merely ticking boxes? This piece provides a comprehensive analysis, highlighting both successes and areas where more commitment is needed. For instance, while some companies rigorously report greenhouse gas emissions and other sustainability metrics, others may still view these reports as regulatory hoops to jump through rather than opportunities for substantial operational improvements. As we push towards the United Nations Sustainable Development Goals, let's use this opportunity to discuss how we can make sustainability reporting more than just a procedural requirement. How can we ensure it becomes a cornerstone of strategic business transformation and societal benefit? Join the conversation below. Let's explore how we can turn these reports from mere documents into catalysts for real, enduring change. #Sustainability #CorporateResponsibility #EnvironmentalImpact #BusinessTransformation
Commentary: Sustainability reporting is only meaningful if companies are serious about making changes
channelnewsasia.com
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Sustainability Pacemaker | Director, Sustainability Advisory at Salesforce | Transformative Tech to Serve People & Planet
"𝗦𝗽𝗲𝗻𝗱𝗶𝗻𝗴 𝗼𝗻 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗿𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝗲𝘅𝗰𝗲𝗲𝗱𝘀 𝘀𝗽𝗲𝗻𝗱𝗶𝗻𝗴 𝗼𝗻 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻 𝗯𝘆 𝟰𝟯%." 🤔 This statement keeps popping up in my feed, often followed by rants about the burden that CSRD and other regulations place on corporations. But let's take a closer look. 1️⃣ 𝗗𝗮𝘁𝗮 𝗰𝗼𝗻𝘁𝗲𝘅𝘁 𝗺𝗮𝘁𝘁𝗲𝗿𝘀: I read the study from which the statement originates. There's no solid data to back up the claim. The 43% figure is an aggregate from a survey of 5,000 executives across 22 industries and countries conducted in the second half of 2023. Context is crucial! For the sake of argument, let's assume the figures are correct. 2️⃣ 𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗯𝗲𝗳𝗼𝗿𝗲 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗻𝗴: You can't innovate in a field without first understanding it. 🤷♂️ Investments in reporting infrastructure are a proxy for investments in understanding what sustainability means for a corporation and how progress can be determined, measured, and ultimately driven. This includes investments in people, processes, and platforms. Naturally, such spending would exceed innovation investments if a company is at a low maturity level in sustainability. 😉 3️⃣ 𝗠𝗶𝘀𝗶𝗻𝘁𝗲𝗿𝗽𝗿𝗲𝘁𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗱𝗮𝘁𝗮: Many use this 43% figure, true or false, to argue that CSRD and related regulations are too harsh and overburden companies. This is a misinterpretation of the study's intent. (I think.) They want to stress that there's more to do than just reporting. Key Takeaways: 🔹 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀 𝗮𝗿𝗲 𝗲𝘀𝘀𝗲𝗻𝘁𝗶𝗮𝗹: Sustainability regulations like CSRD are necessary. Without them, many companies might not have moved forward at all. They had ample time to act before these regulations were in place. (In fact, one might argue that regulations don't go far enough to trigger the transformation of our economies.) 🔹 𝗙𝗼𝘂𝗻𝗱𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁𝘀 𝗮𝗿𝗲 𝗹𝗲𝗴𝗶𝘁𝗶𝗺𝗮𝘁𝗲: Allocating resources to get the basics right is not just necessary - it’s strategic. Just as in financial performance, understanding the drivers behind success is crucial for effective innovation. 🔹 𝗚𝗼𝗶𝗻𝗴 𝗯𝗲𝘆𝗼𝗻𝗱 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗶𝘀 𝗽𝗮𝗿𝗮𝗺𝗼𝘂𝗻𝘁: Achieving compliance and implementing basic infrastructure is just the beginning. The real work lies ahead - actively working to minimize our negative impact on people and the planet and striving to operate within our ecological limits. Let’s shift the narrative - from blaming regulation to fostering genuine progress! #Sustainability #CSRD #Innovation #ForNature #ForClimate
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Hydrus offers an intuitive sustainability management platform to solve your biggest sustainability data challenges.
At Hydrus.ai, we believe that sustainability is a core principle for shaping a better future for businesses and the world. In our latest article, we explore how organizations can develop a robust sustainability strategy that aligns with their long-term goals. Read the full article here to discover the key steps in strategy formulation:
Crafting a Sustainability Strategy: Key Steps in Strategy Formulation
https://www.hydrus.ai
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Is sustainability reporting taking up too much time? Or is it vital to drive action? Really useful context from Steffen Müller 🌱to what at first could be seen as a worrying headline about the time spent by sustainability professionals on reporting. From my perspective ✅ reporting is a necessity to drive compliance with regulation... ✅ regulation is a necessity to drive action... We just need to ensure that the purpose of reporting remains focused on driving action rather than it becoming the star of the show itself.
Sustainability Pacemaker | Director, Sustainability Advisory at Salesforce | Transformative Tech to Serve People & Planet
"𝗦𝗽𝗲𝗻𝗱𝗶𝗻𝗴 𝗼𝗻 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗿𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝗲𝘅𝗰𝗲𝗲𝗱𝘀 𝘀𝗽𝗲𝗻𝗱𝗶𝗻𝗴 𝗼𝗻 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻 𝗯𝘆 𝟰𝟯%." 🤔 This statement keeps popping up in my feed, often followed by rants about the burden that CSRD and other regulations place on corporations. But let's take a closer look. 1️⃣ 𝗗𝗮𝘁𝗮 𝗰𝗼𝗻𝘁𝗲𝘅𝘁 𝗺𝗮𝘁𝘁𝗲𝗿𝘀: I read the study from which the statement originates. There's no solid data to back up the claim. The 43% figure is an aggregate from a survey of 5,000 executives across 22 industries and countries conducted in the second half of 2023. Context is crucial! For the sake of argument, let's assume the figures are correct. 2️⃣ 𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗯𝗲𝗳𝗼𝗿𝗲 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗻𝗴: You can't innovate in a field without first understanding it. 🤷♂️ Investments in reporting infrastructure are a proxy for investments in understanding what sustainability means for a corporation and how progress can be determined, measured, and ultimately driven. This includes investments in people, processes, and platforms. Naturally, such spending would exceed innovation investments if a company is at a low maturity level in sustainability. 😉 3️⃣ 𝗠𝗶𝘀𝗶𝗻𝘁𝗲𝗿𝗽𝗿𝗲𝘁𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗱𝗮𝘁𝗮: Many use this 43% figure, true or false, to argue that CSRD and related regulations are too harsh and overburden companies. This is a misinterpretation of the study's intent. (I think.) They want to stress that there's more to do than just reporting. Key Takeaways: 🔹 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀 𝗮𝗿𝗲 𝗲𝘀𝘀𝗲𝗻𝘁𝗶𝗮𝗹: Sustainability regulations like CSRD are necessary. Without them, many companies might not have moved forward at all. They had ample time to act before these regulations were in place. (In fact, one might argue that regulations don't go far enough to trigger the transformation of our economies.) 🔹 𝗙𝗼𝘂𝗻𝗱𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁𝘀 𝗮𝗿𝗲 𝗹𝗲𝗴𝗶𝘁𝗶𝗺𝗮𝘁𝗲: Allocating resources to get the basics right is not just necessary - it’s strategic. Just as in financial performance, understanding the drivers behind success is crucial for effective innovation. 🔹 𝗚𝗼𝗶𝗻𝗴 𝗯𝗲𝘆𝗼𝗻𝗱 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗶𝘀 𝗽𝗮𝗿𝗮𝗺𝗼𝘂𝗻𝘁: Achieving compliance and implementing basic infrastructure is just the beginning. The real work lies ahead - actively working to minimize our negative impact on people and the planet and striving to operate within our ecological limits. Let’s shift the narrative - from blaming regulation to fostering genuine progress! #Sustainability #CSRD #Innovation #ForNature #ForClimate
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Sustainability/ESG Strategy Consultant | Non-Executive Director | Expertise in sustainability strategy & implementation, business strategy, private equity, ESG governance. Ex L.E.K. Consulting, Hg Capital.
As I say in my comment to this well constructed piece by Steffen Müller 🌱 it’s an overused phrase but sustainability is a journey, part of which requires getting all the reporting and processes in place. The ambition should be to master the reporting while delivering the corporate initiatives for positive impact. But undeniably it’s a challenge. I advise keeping focused on the end goals and recognising the role ESG reporting has in assisting you in setting out and sticking to your transition plans and route maps. It’s also totally fine to moan because ESG / Sustainability is a new discipline and we need to keep reminding those who write these lengthy guidelines and complicated reporting structures to keep it simple and that unnecessarily bureaucracy is bad for impact. #sustainability #sustainabilityreporting #impact #sustainbilityleadership
Sustainability Pacemaker | Director, Sustainability Advisory at Salesforce | Transformative Tech to Serve People & Planet
"𝗦𝗽𝗲𝗻𝗱𝗶𝗻𝗴 𝗼𝗻 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗿𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝗲𝘅𝗰𝗲𝗲𝗱𝘀 𝘀𝗽𝗲𝗻𝗱𝗶𝗻𝗴 𝗼𝗻 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻 𝗯𝘆 𝟰𝟯%." 🤔 This statement keeps popping up in my feed, often followed by rants about the burden that CSRD and other regulations place on corporations. But let's take a closer look. 1️⃣ 𝗗𝗮𝘁𝗮 𝗰𝗼𝗻𝘁𝗲𝘅𝘁 𝗺𝗮𝘁𝘁𝗲𝗿𝘀: I read the study from which the statement originates. There's no solid data to back up the claim. The 43% figure is an aggregate from a survey of 5,000 executives across 22 industries and countries conducted in the second half of 2023. Context is crucial! For the sake of argument, let's assume the figures are correct. 2️⃣ 𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗯𝗲𝗳𝗼𝗿𝗲 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗻𝗴: You can't innovate in a field without first understanding it. 🤷♂️ Investments in reporting infrastructure are a proxy for investments in understanding what sustainability means for a corporation and how progress can be determined, measured, and ultimately driven. This includes investments in people, processes, and platforms. Naturally, such spending would exceed innovation investments if a company is at a low maturity level in sustainability. 😉 3️⃣ 𝗠𝗶𝘀𝗶𝗻𝘁𝗲𝗿𝗽𝗿𝗲𝘁𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗱𝗮𝘁𝗮: Many use this 43% figure, true or false, to argue that CSRD and related regulations are too harsh and overburden companies. This is a misinterpretation of the study's intent. (I think.) They want to stress that there's more to do than just reporting. Key Takeaways: 🔹 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀 𝗮𝗿𝗲 𝗲𝘀𝘀𝗲𝗻𝘁𝗶𝗮𝗹: Sustainability regulations like CSRD are necessary. Without them, many companies might not have moved forward at all. They had ample time to act before these regulations were in place. (In fact, one might argue that regulations don't go far enough to trigger the transformation of our economies.) 🔹 𝗙𝗼𝘂𝗻𝗱𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁𝘀 𝗮𝗿𝗲 𝗹𝗲𝗴𝗶𝘁𝗶𝗺𝗮𝘁𝗲: Allocating resources to get the basics right is not just necessary - it’s strategic. Just as in financial performance, understanding the drivers behind success is crucial for effective innovation. 🔹 𝗚𝗼𝗶𝗻𝗴 𝗯𝗲𝘆𝗼𝗻𝗱 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗶𝘀 𝗽𝗮𝗿𝗮𝗺𝗼𝘂𝗻𝘁: Achieving compliance and implementing basic infrastructure is just the beginning. The real work lies ahead - actively working to minimize our negative impact on people and the planet and striving to operate within our ecological limits. Let’s shift the narrative - from blaming regulation to fostering genuine progress! #Sustainability #CSRD #Innovation #ForNature #ForClimate
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Steffen’s post below is well worth a great, this figure keeps being quoted but context is everything. Obviously we all want companies to focus on driving real, meaningful, science based action. However many many companies do not have the basic foundations in place today to do this (eg ghg or biodiversity baseline and measurement systems, credible net zero roadmap, governance and reporting structures etc etc). To pit these foundations against “sustainability innovation” is a false dichotomy, sustainability regulation is driving implemention of the basic foundations that very few orgs have in place. Ideally these foundations will enable orgs to understand the burning case for change, to redesign their business models and invest in innovation to support us all to live within planetary and social boundaries. Regulations shouldn’t slow down innovation for those companies who are committed to innovation, but for the long tail that haven’t come to the table yet they will hopefully be the stick that’s much needed. Thanks to Philippe Diaz for highlighting Steffen’s post below.
Sustainability Pacemaker | Director, Sustainability Advisory at Salesforce | Transformative Tech to Serve People & Planet
"𝗦𝗽𝗲𝗻𝗱𝗶𝗻𝗴 𝗼𝗻 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗿𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝗲𝘅𝗰𝗲𝗲𝗱𝘀 𝘀𝗽𝗲𝗻𝗱𝗶𝗻𝗴 𝗼𝗻 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻 𝗯𝘆 𝟰𝟯%." 🤔 This statement keeps popping up in my feed, often followed by rants about the burden that CSRD and other regulations place on corporations. But let's take a closer look. 1️⃣ 𝗗𝗮𝘁𝗮 𝗰𝗼𝗻𝘁𝗲𝘅𝘁 𝗺𝗮𝘁𝘁𝗲𝗿𝘀: I read the study from which the statement originates. There's no solid data to back up the claim. The 43% figure is an aggregate from a survey of 5,000 executives across 22 industries and countries conducted in the second half of 2023. Context is crucial! For the sake of argument, let's assume the figures are correct. 2️⃣ 𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗯𝗲𝗳𝗼𝗿𝗲 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗻𝗴: You can't innovate in a field without first understanding it. 🤷♂️ Investments in reporting infrastructure are a proxy for investments in understanding what sustainability means for a corporation and how progress can be determined, measured, and ultimately driven. This includes investments in people, processes, and platforms. Naturally, such spending would exceed innovation investments if a company is at a low maturity level in sustainability. 😉 3️⃣ 𝗠𝗶𝘀𝗶𝗻𝘁𝗲𝗿𝗽𝗿𝗲𝘁𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗱𝗮𝘁𝗮: Many use this 43% figure, true or false, to argue that CSRD and related regulations are too harsh and overburden companies. This is a misinterpretation of the study's intent. (I think.) They want to stress that there's more to do than just reporting. Key Takeaways: 🔹 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀 𝗮𝗿𝗲 𝗲𝘀𝘀𝗲𝗻𝘁𝗶𝗮𝗹: Sustainability regulations like CSRD are necessary. Without them, many companies might not have moved forward at all. They had ample time to act before these regulations were in place. (In fact, one might argue that regulations don't go far enough to trigger the transformation of our economies.) 🔹 𝗙𝗼𝘂𝗻𝗱𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁𝘀 𝗮𝗿𝗲 𝗹𝗲𝗴𝗶𝘁𝗶𝗺𝗮𝘁𝗲: Allocating resources to get the basics right is not just necessary - it’s strategic. Just as in financial performance, understanding the drivers behind success is crucial for effective innovation. 🔹 𝗚𝗼𝗶𝗻𝗴 𝗯𝗲𝘆𝗼𝗻𝗱 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗶𝘀 𝗽𝗮𝗿𝗮𝗺𝗼𝘂𝗻𝘁: Achieving compliance and implementing basic infrastructure is just the beginning. The real work lies ahead - actively working to minimize our negative impact on people and the planet and striving to operate within our ecological limits. Let’s shift the narrative - from blaming regulation to fostering genuine progress! #Sustainability #CSRD #Innovation #ForNature #ForClimate
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Sustainability remains a key priority for organizations, but 2024 has been a year full of uncertainty—from geopolitical tensions to shifting regulations like the EU’s Corporate Sustainability Reporting Directive (CSRD). As highlighted in the latest @Capgemini Research Institute report, A World in Balance, while organizations are making significant investments in sustainability, deep change is required across the entire business. Circularity is emerging as a core focus—and it affects not just procurement and operations but also product design, marketing, and more. To truly drive sustainability forward, alignment is needed across all functions and sectors, from manufacturing to financial services. Geopolitical challenges have slowed some progress, with 65% of executives expressing concerns over uncertainty. But as we move into an era of increased accountability and transparency, businesses must prioritize measurable and impactful sustainability initiatives to navigate these complexities. Learn more about how companies are driving this transformation in our latest Sustainability Trends report: https://lnkd.in/e84yp2Fr #Sustainability #Circularity #CorporateChange #Capgemini #ESG #SustainabilityLeadership
Sustainability trends 2024
https://www.capgemini.com
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Although not all of us are required to engage in sustainability reporting just yet, the jargon within the sustainability field is here to stay. Companies that haven't started their sustainability reporting are still strongly encouraged to familiarise themselves with these terms, expectations, and what they ultimately convey to both internal and external stakeholders. This will be beneficial in the long run. Where does your company currently stand in sustainability reporting?
CNA Explains: More companies are putting out sustainability reports – why, and how to read them?
channelnewsasia.com
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Early adoption of sustainability reporting is crucial for SMEs to remain competitive globally. In the US, where customer awareness and demand for sustainable practices are growing, SMEs that start reporting now can better align with future regulations and customer expectations. This proactive approach not only ensures compliance readiness but also enhances reputation, fosters trust with stakeholders, and can open up new market opportunities. By starting with simple reporting and gradually evolving their practices, SMEs can enhance their sustainability efforts, ultimately driving business growth and resilience in an increasingly eco-conscious market.
SMEs should prepare early for a future when sustainable reporting is mandatory: Enterprise SG
businesstimes.com.sg
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1987 - United Nations Brundtland Commission defined SUSTAINABILITY as follows: “meeting the needs of the present without compromising the ability of future generations to meet their own needs.” 2015 - UN defined the 17 SDG’s (Social Development Goals) 2023 - EU CSRD (Corporate Sustainability Reporting Directive) in place What is ESG? What is in scope 1-2-3a-3b? What is the impact on our company? Why should we already act now? We are a small company and not yet obliged by law, what should we already do? How to work together with my suppliers? What does sustainable procurement mean? Wouldn’t it be great if you stay ahead of the competition and be prepared in advance? Sustainability in business is no longer a choice but a chance to grab right now! PROBATUR GROUP can guide and lead your company through these changing times and help you manage this evolution. We can connect procurement and business, sustainability and suppliers, drive change within your team, reach the hand to supplier base… collect data, and prepare for reporting. We can guide you on reducing Scope 1-2 (internal) emissions & Scope 3 (external upstream-downstream) emissions by optimizing the approach. Our Sustainability Experts are available to install tailor-made solutions to your technology and business, according to your specific needs. For more information, you can contact us at info@probatur-group.com
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