In a significant stride toward environmental sustainability, Planet FWD has recently launched a revolutionary platform designed to aid Consumer Packaged Goods (CPG) companies in measuring and reducing their environmental impact. This initiative reflects a growing global awareness and commitment towards combating climate change by decarbonizing the food and beverage industry.
The new suite of tools introduced by Planet FWD is anchored in an Artificial Intelligence (AI)-powered decarbonization platform, which promises to lower carbon modeling costs and accelerate the decarbonization process across various markets, including dietary supplements. By leveraging AI and machine learning technologies, the platform offers a Product Life Cycle Assessments (LCA) tool that enables a deeper understanding of product and ingredient-level emissions. This tool notably simplifies the traditionally complex custom assessment process, allowing the simultaneous measurement of thousands of products, and making supply chain data readily accessible to companies. On an average, the platform is said to aid brands in reducing carbon emissions by 35% per product.
The core of Planet FWD’s platform is its proprietary AI-powered technology, which moves beyond average data and estimates to rapidly model product-level emissions from farm to compost bin. By breaking down emissions into three scopes—Scope 1 for direct emissions controlled by a company, and Scope 2 and 3 for indirect emissions stemming from company activities but occurring from uncontrolled sources—the platform furnishes a holistic view of a company's climate footprint.
Julia Collins, the founder and CEO of Planet FWD, elucidates that this platform empowers consumer companies to set net-zero targets, aiding them in meeting their sustainability goals. As the first end-to-end climate solution specifically tailored for the food and beverage industry, the platform facilitates brands, manufacturers, ingredient suppliers, food service providers, and retailers in not only measuring their emissions across all three scopes but also in reducing those impacts and making credible sustainability claims in the market.
Furthermore, the platform’s debut comes at a pivotal time, especially with the recent enactment of climate-related reporting statutes in California. These new laws mandate certain public and private entities to disclose their greenhouse gas emissions and climate-related risks, thereby significantly impacting the way businesses will be required to disclose their climate impacts. The legislation aligns with the growing consumer demand for brands to take a proactive stance in fighting climate change, especially among millennials and Gen-Zers, 82% of whom believe brands should bear more responsibility for tackling climate change.
In conclusion, Planet FWD’s innovative platform embodies a substantial move towards a more sustainable and climate-resilient food and beverage industry. By providing an effective, AI-powered solution, Planet FWD is not only aiding companies in understanding and reducing their environmental impact but also catalyzing a broader shift towards sustainable business practices within the industry and beyond.