AWS for Industries
Sustainability in Retail: Why $10B+ of revenue trusts Altruistiq to help them become industry leaders
Sustainability is one of the defining issues of our time, and companies all over the globe are being called on to step up and confront the challenge in the context of the climate emergency.
The fact is employees want to work for—and customers want to buy from—companies actively striving for sustainability. According to the 2021 Global Sustainability Study (Simon-Kucher & Partners), which surveyed more than 10,000 people across 17 countries, 78 percent of global consumers feel that environmental sustainability is important and say they want to live more sustainable lives. Business leaders have clearly taken notice.
According to Big Four accounting firm KPMG, 80 percent of leading companies now report on sustainability. On the other hand, 98 percent of sustainability initiatives fail.
Sustainability is a complex, systemic challenge that affects all industries and businesses. Although the last year has seen unprecedented climate ambition by corporates globally, when it comes to taking action, even companies that want to do the right thing often don’t know where to start or how to quantify the initiatives they already have underway. For example, many retailers hoping to measure their progress toward Net Zero (achieving a balance between greenhouse gases put into the atmosphere and those taken out) lack the data or tools (or both) necessary to get a clear picture of their impact and optimal pathways forward. Many are using one-off, manual exercises with limited data insight. What’s needed is a sophisticated, purpose-built tool for measuring, managing, and abating sustainability impacts. That’s where Altruistiq comes in.
Climate solutions for the digital age
Altruistiq enables retailers and other large enterprises to automate sustainability measurement, management, and exchange—empowering businesses with the technology infrastructure to translate ambition into action with unparalleled accuracy and ease.
Altruistiq is growing to meet record demand and is focused on enabling retail and manufacturing businesses, where the drive to become more sustainable is most urgent.
Providing an intuitive B2B SaaS platform that helps retailers understand their precise impact across Scopes 1, 2, and 3, Altruistiq measures progress against targets and identifies specific opportunities for improvement.
By integrating with key business systems to automate raw data collection, Altruistiq saves time and enables its customers to focus on what they do best—driving positive change and making decisions informed by actionable insights.
The Greenhouse Gas (GHG) Protocol is a standard used by many organizations to measure and report their greenhouse gas baselines. The protocol focuses on accounting for Scope 1, 2, and 3 emissions. Scope 1 emissions are the direct emissions that arise from company-owned and/or controlled resources. Scope 2 emissions are indirect emissions that arise from the generation of purchased energy. Scope 3 emissions are indirect emissions that are created by both the upstream and downstream activities in an organization’s value chain. Learn more about emissions accounting.
$10B+ of revenue trusts Altruistiq to help them become climate leaders
Altruistiq’s impact reduction goals:
- By the end of 2022, Altruistiq will be tracking over 2MtCO2e (metric tons of carbon dioxide equivalent) emissions for customers.
- By the end of 2024, Altruistiq will be tracking over 10 MtCO2e of GHG emissions and will have identified opportunities for over 6 MtCO2e in impact reductions for customers.
Customer Case Study: B Corp™ certified recipe box retailer drives sustainability with Altruistiq
Gousto, a certified B Corporation based in the UK, uses the Altruistiq platform to analyze the environmental impact of every recipe offered, down to individual ingredients. In one example, it was discovered that sourcing tomatoes from Seville had a lower carbon impact than sourcing from the UK. By surfacing such insights, Altruistiq helps Gousto mitigate the carbon impact of individual recipes. When such information is shared with the public, it empowers consumers to make informed decisions and harness their purchasing power as a force for good.
Altruistiq believes that businesses are the key to driving climate action at scale and is dedicated to unlocking this opportunity
Sustainability is the world’s biggest data problem. Bridging the gap between ambition and action is fraught with data challenges, notably:
- Data gathering is time consuming
- Data accuracy is low
- Data exchange is nonstandard
Altruistiq adopts a unique approach to solving these challenges, reducing a lot of the heavy lifting regarding how data is gathered and structured. By using data science and custom-built data pipelines to automate the work, Altruistiq provides high-resolution, granular measurement that gives retailers a clear understanding of their impact and surfaces time- and cost-efficient reduction opportunities. Altruistiq has also “productized” the process of setting science-based targets, making this far more accessible and easier to implement and measure progress against. Finally, Altruistiq facilitates easy-to-share, tailored reports for internal and external stakeholders, including fully transparent, auditable reports that meet key standards such as CPD and TCFD.
Sustainability: operationalized
Altruistiq helps customers transition from retrospective measurement and static sustainability reports to a live dashboard and decision-making environment. Here they can easily see how they’re tracking against their targets in real time and evaluate which impact reduction levers to pull and when, powered by Altruistiq’s proprietary abatement algorithm. This is helping to democratize the field of sustainability, previously the reserve of experts, for a business audience.
More than ever, Altruistiq has a strong conviction that those leading the transition to a low-carbon society will elevate their business and bottom line, enabling all stakeholders to realize what Mark Carney, the UN Special Envoy on Climate Action and Finance, has called “the greatest commercial opportunity of our time.”
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Why Altruistiq chose AWS
As a tech company working in the cloud, with aggressive sustainability goals of its own, Altruistiq’s decision to partner with AWS was a simple one. Case in point: In December, 2021, AWS introduced a new Sustainability Pillar to help organizations learn, measure, and improve their workloads using environmental best practices for cloud computing.
AWS has been using the AWS Well-Architected Framework to help customers improve their cloud architectures since 2015. The framework consists of design principles, questions, and best practices across multiple pillars: Operational Excellence, Security, Reliability, Performance Efficiency, Cost Optimization, and now, Sustainability. AWS is focused on efficiency and continuous innovation across its global infrastructure, as it pursues its commitment to power operations with 100% renewable energy by 2025. Amazon is already the largest corporate buyer of renewable energy globally and in Europe.
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Altruistiq enables retailers and other large enterprises to automate sustainability measurement, management, and exchange—empowering businesses with the technology infrastructure to translate ambition into action with unparalleled accuracy and ease.