Carbon accounting software for companies in Bulgaria

Bulgarian companies should engage in carbon accounting to effectively manage their greenhouse gas (GHG) emissions, ensuring environmental sustainability and compliance with both national and European regulations.

Understanding their carbon footprint is essential for Bulgarian companies to set and achieve meaningful GHG reduction targets. Through carbon accounting, businesses can pinpoint significant sources of emissions within their operations and supply chains, enabling strategic efforts to minimise these emissions. This not only advances environmental goals but also promotes operational efficiency, potentially leading to significant cost savings by reducing energy waste and improving resource management.

Furthermore, carbon accounting is rapidly becoming a regulatory necessity, particularly within the European framework. The European Union's Green Deal and the associated European Sustainability Reporting Standards (ESRS) require detailed disclosures on climate-related targets, including Scope 1, 2, and 3 emissions. Bulgarian companies, as members of the EU, must comply with these stringent regulations to avoid legal penalties and safeguard their operational licenses. Adopting robust carbon accounting practices also enhances their reputation and can attract investors who prioritise sustainability.

Transparent carbon accounting fosters greater trust among stakeholders and elevates corporate reputation. As stakeholders in Bulgaria and internationally increasingly seek transparency regarding environmental impacts, companies that effectively disclose their carbon footprints and actively pursue GHG reductions can distinguish themselves in the marketplace. This transparency not only boosts the company's image but also strengthens relationships with stakeholders and prepares the company to adapt to future sustainability demands, aligning with both national and European sustainability objectives.

Introducing carbon accounting software provides Bulgarian companies with significant advantages in automating, streamlining, and improving the accuracy of their carbon measurement and management processes.

Firstly, carbon accounting software offers essential automation and efficiency for Bulgarian businesses, conserving valuable time and resources. Given the increasing complexity of integrating diverse data from operations and supply chains, this software ensures a comprehensive and precise assessment of a company's carbon footprint. By reducing the need for manual data entry and minimising calculation errors, Bulgarian companies gain real-time insights, enabling prompt and well-informed decision-making.

Secondly, carbon accounting software helps Bulgarian companies meet regional regulatory requirements and reporting standards. In the European Union, companies must adhere to stringent regulations, such as the European Sustainability Reporting Standards (ESRS), and national regulations mandating accurate emissions reporting. This software ensures that Bulgarian businesses comply with these frameworks, helping them avoid fines while enhancing their transparency and accountability in the marketplace.

Lastly, carbon accounting software provides Bulgarian companies with advanced analytical and reporting capabilities, crucial for tracking sustainability progress. It enables businesses to set emission reduction targets, monitor their performance, and generate detailed reports for stakeholders. This not only supports strategic planning and informed decision-making but also builds trust and credibility with investors, customers, and other stakeholders. By committing to accurate sustainability reporting, Bulgarian companies can distinguish themselves in the market and strengthen their competitive edge.

Plan A's software assists Bulgarian companies in carbon accounting by offering a sophisticated platform designed to calculate emissions, uncover key emission sources, set and achieve reduction targets, and comply with local and international regulatory standards.

In Bulgaria, where the regulatory environment is evolving to align with EU carbon reduction goals, Plan A’s platform ensures companies keep up with these changes. The software simplifies data collection across various teams and suppliers, adhering to the latest scientific standards to ensure high accuracy. By consolidating emissions data from multiple sources into a secure and customisable dashboard, Bulgarian companies can maintain quality and consistency in their carbon footprint assessments.

The software's capability to perform deep data analysis is crucial for companies in Bulgaria to identify emissions hotspots. Customisable dashboards and charts help pinpoint major sources of emissions across different facilities, subsidiaries, and business units. By comprehensively calculating emissions across all scopes (1, 2, and 3) under the GHG Protocol, it enables Bulgarian businesses to focus on effective areas for improvement and optimisation.

Additionally, Plan A’s software aids Bulgarian companies in setting and reaching science-based decarbonisation targets, which is essential for staying competitive in the EU market. The platform provides tailored actions and projections of future emissions and related cost risks, thereby helping companies develop practical decarbonisation strategies. This structured approach ensures Bulgarian businesses remain compliant with both national and EU regulations, progressing toward their net-zero emissions goals efficiently.

Top carbon accounting software providers available in Bulgaria include Plan A, Position Green, Accacia, AMPECO, IBM’s Environmental Intelligence Suite, and Salesforce’s Net Zero Cloud.

Plan A stands out as a leader in carbon accounting software. Plan A’s platform simplifies data collection across teams and suppliers, ensuring high accuracy by following the latest scientific standards. It consolidates emissions data from multiple sources into a secure, customisable dashboard, using bulk data uploads and guided templates for consistent and reliable carbon footprint assessment. The software also provides deep data analysis with customisable dashboards and charts, allowing companies to identify emissions hotspots and develop effective decarbonisation plans.

Position Green offers a comprehensive carbon accounting solution that enables companies to calculate greenhouse gas emissions across Scopes 1, 2, and 3. Its platform automates data collection and compliance, reporting in line with key standards such as ESRS, GHG Protocol, CDP, and SBTi. Position Green’s software also allows for dynamic method selection and supports target setting and emissions reduction forecasting.

Accacia provides a specialised carbon accounting platform designed for the real estate industry. It automates emissions tracking for Scopes 1, 2, and 3 across building operations and calculates embodied carbon in building materials and construction. Accacia’s platform also assesses climate risks and financed emissions for real estate portfolios, helping companies set net-zero targets and plan decarbonisation strategies.

AMPECO, a Bulgarian EV charging software company, recently adopted a new carbon accounting solution to enhance their emissions calculations starting in 2023. This move reflects AMPECO’s recognition of the need for sophisticated carbon accounting to support their environmental sustainability goals. The new solution assists AMPECO in accurately tracking and managing their greenhouse gas emissions.

IBM’s Environmental Intelligence Suite is a legacy software with a focus on data management and emissions management. It offers rudimentary climate risk analytics with the assistance of IBM's AI capabilities, enabling organisations to monitor disruptive climate patterns and integrate carbon accounting into operational processes. Businesses seeking a tool for projecting future carbon emissions and risk assessment may find IBM’s suite suitable, although it might lack the personalised experience needed by some organisations.

Salesforce’s Net Zero Cloud is a carbon accounting platform that leverages Salesforce’s strengths in automation and integration. While it offers valuable emissions reporting capabilities and robust dashboard functionality, it is somewhat constrained by its reliance on an existing data schema not designed for accounting purposes. Despite mixed scalability assessments, Net Zero Cloud has established formidable partnerships, including key players like Accenture, enhancing its utility for users.

Carbon accounting software helps Bulgarian companies reduce emissions by providing detailed insights, facilitating targeted actions, and enabling continuous monitoring and improvement.

Firstly, carbon accounting software gives Bulgarian companies a clear picture of their emissions by meticulously measuring and analysing data from various parts of the organisation. Understanding the complete carbon footprint helps identify major sources of emissions, whether they come from energy consumption, transportation, or supply chain activities specific to Bulgaria. With this precise information, Bulgarian companies can prioritise key areas for reduction and apply resources efficiently towards those efforts.

Secondly, the software assists Bulgarian businesses in taking targeted actions by employing advanced analytics and scenario modelling tools. This can be particularly beneficial for companies in Bulgaria who are looking to invest in energy-efficient technologies or renewable energy sources such as hydro and solar power, which are increasingly viable in the Bulgarian context. Companies can simulate various emissions reduction scenarios to find the most cost-effective strategies, ensuring they can achieve significant reductions within their financial capacities.

Finally, carbon accounting software supports continuous monitoring and improvement by offering real-time data and automated reporting, which is crucial for compliance with both local Bulgarian and EU environmental regulations. This helps companies in Bulgaria to keep track of their emissions performance, quickly spot any deviations, and make necessary adjustments to stay aligned with their sustainability goals. Continuous monitoring ensures not only that Bulgarian companies reduce emissions over time but also maintain transparency and accountability in their environmental impact management, fostering sustained progress towards a greener future.