Atrius Building Insights Case Studies Automated Carbon Accounting and Assurance for a Fortune 500 Insurance Company

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	Automated Carbon Accounting and Assurance for a Fortune 500 Insurance Company Atrius Building Insights

Automated Carbon Accounting and Assurance for a Fortune 500 Insurance Company

Atrius Building Insights

Technology Category	Cybersecurity & Privacy - Security Compliance Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries	Buildings Utilities
Applicable Functions	Quality Assurance
Use Cases	Continuous Emission Monitoring Systems Usage-Based Insurance
Challenge	Calculating carbon emissions is a complex and time-consuming process that involves multiple stakeholders and large volumes of data from various sources. Despite the impending SEC compliance requirements that could affect all publicly traded companies, many companies are still manually collecting building data and using spreadsheets to measure and verify their data. This manual aggregation of energy cost and consumption data across a portfolio of buildings is inefficient, resource-intensive, and costly. For the Fortune 500 insurance company in question, with over 10,000 employees and dozens of buildings, preparing emissions reports for end-of-year financial statements was a year-round task fraught with challenges. The company was stuck in archaic, time-consuming processes to generate compliant sustainability reports. They required an auditable solution to centralize data, automate workflows, and eliminate the need to manually convert resource-use data into emissions data. Read More
About Customer	The customer is a Fortune 500 insurance company with over 10,000 employees and dozens of buildings. The company was facing challenges in preparing emissions reports for end-of-year financial statements due to the manual and time-consuming processes involved. They were in need of an auditable solution that could centralize data, automate workflows, and eliminate the need to manually convert resource-use data into emissions data. The company was also under pressure from investors, supply chain partners, and federal and local regulators to be more transparent in collecting and reporting emissions data. Read More
Solution	The insurance company partnered with Atrius® Sustainability and Atrius® Energy to consolidate utilities, budgets, and building information into one platform. By leveraging APIs and integrations that automatically pull resource consumption data directly from the world’s top utility providers, they eliminated the need for manual input and significantly reduced the possibility of human error. The platform automatically converts resource use data into Scope 1, Scope 2, and Scope 3 emissions using standard factors from the EPA, UK DEFRA, and more. Using customizable dashboards and reports, the insurance company can see emissions trends and breakdowns by resource, scope, building, and building group, which allows them to identify top opportunities for improvement. Furthermore, working with Atrius, the client has created 12-month rolling, and year-to-date portfolio roll-ups for sustainability reports, financial statements, and informing internal and external stakeholders. The company also leveraged their partnership with Apex Companies, LLC to ensure reliability in reporting and compliance with assurance requirements. Read More Log in to view content
Contents

Technology Category

Cybersecurity & Privacy - Security Compliance

Platform as a Service (PaaS) - Application Development Platforms

Applicable Industries

Buildings

Utilities

Applicable Functions

Quality Assurance

Use Cases

Continuous Emission Monitoring Systems

Usage-Based Insurance

Challenge

Calculating carbon emissions is a complex and time-consuming process that involves multiple stakeholders and large volumes of data from various sources. Despite the impending SEC compliance requirements that could affect all publicly traded companies, many companies are still manually collecting building data and using spreadsheets to measure and verify their data. This manual aggregation of energy cost and consumption data across a portfolio of buildings is inefficient, resource-intensive, and costly. For the Fortune 500 insurance company in question, with over 10,000 employees and dozens of buildings, preparing emissions reports for end-of-year financial statements was a year-round task fraught with challenges. The company was stuck in archaic, time-consuming processes to generate compliant sustainability reports. They required an auditable solution to centralize data, automate workflows, and eliminate the need to manually convert resource-use data into emissions data.

About Customer

The customer is a Fortune 500 insurance company with over 10,000 employees and dozens of buildings. The company was facing challenges in preparing emissions reports for end-of-year financial statements due to the manual and time-consuming processes involved. They were in need of an auditable solution that could centralize data, automate workflows, and eliminate the need to manually convert resource-use data into emissions data. The company was also under pressure from investors, supply chain partners, and federal and local regulators to be more transparent in collecting and reporting emissions data.

Solution

The insurance company partnered with Atrius® Sustainability and Atrius® Energy to consolidate utilities, budgets, and building information into one platform. By leveraging APIs and integrations that automatically pull resource consumption data directly from the world’s top utility providers, they eliminated the need for manual input and significantly reduced the possibility of human error. The platform automatically converts resource use data into Scope 1, Scope 2, and Scope 3 emissions using standard factors from the EPA, UK DEFRA, and more. Using customizable dashboards and reports, the insurance company can see emissions trends and breakdowns by resource, scope, building, and building group, which allows them to identify top opportunities for improvement. Furthermore, working with Atrius, the client has created 12-month rolling, and year-to-date portfolio roll-ups for sustainability reports, financial statements, and informing internal and external stakeholders. The company also leveraged their partnership with Apex Companies, LLC to ensure reliability in reporting and compliance with assurance requirements.

Impact #1	As a result of the solution implemented, the company now has a streamlined and automated workflow for collecting and converting resource-use data into third-party audited emissions data. This has not only improved the efficiency of their processes but also the quality of their reporting. The insights provided by the platform enable more confident and informed decisions regarding sustainability programs and business in the upcoming years. The company also has peace of mind knowing that their reporting is reliable and compliant with assurance requirements.

Impact #1

As a result of the solution implemented, the company now has a streamlined and automated workflow for collecting and converting resource-use data into third-party audited emissions data. This has not only improved the efficiency of their processes but also the quality of their reporting. The insights provided by the platform enable more confident and informed decisions regarding sustainability programs and business in the upcoming years. The company also has peace of mind knowing that their reporting is reliable and compliant with assurance requirements.

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Overview

Automated Carbon Accounting and Assurance for a Fortune 500 Insurance Company

Operational Impact