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Overview

Carbon Accounting Industry Overview

The carbon accounting industry has seen rapid growth recently, driven by increasing environmental regulations, investor demand for ESG disclosures, and corporate sustainability commitments. The global carbon accounting software market reached $15.3 billion in 2023 and is expected to grow at an annual rate of 22.8%, reaching $64 billion by 2030.

Key Players

Leading carbon accounting software providers include Persefoni, Sustain.Life, Watershed, and Sinai Technologies. Persefoni is the market leader, serving large enterprises with its comprehensive carbon management platform. Sustain.Life and Watershed cater more towards SMEs and easy sustainability reporting. Sinai Technologies specializes in decarbonization modelling and planning.

Logo

Company Name

Title

URL

CarbonChain

Track emissions. Accelerate climate action.

Normative

Carbon Accounting Engine

WattCarbon

Carbon Future Earth

Carbon removal you can trust.

Climastry

Sustainability Management for Manufacturers

Cooler

Make your business part of the climate solution

Carbonable

A new era for Carbon Contribution Management

Cedara

The Carbon Intelligence Platform

Gravity Climate

Persefoni

Climate Management & Carbon Accounting Platform

Unravel Carbon

The climate platform for decision-making. Carbon management platform.

There are no rows in this table

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Other notable players in carbon accounting software: Carbonside, Pangolin Associates, Carbonstop, Carbonbase, Net0, Planetly, Plan A, Sphera, Normative, Evalue8, BraveGen, The Carbon Accounting Company, Anhui Donggao, Carbon Analytics, Emitwise, Envizi, and CarbonetiX.

SEA

There are several carbon accounting and ESG consultants in Malaysia and Southeast Asia. Here are some of them:

Company Name

Service

Description

Riverstone Environmental

Carbon Footprint Assessment

Provides consultancy for Carbon Footprint Assessment across sectors including oil & gas, construction, manufacturing etc. Assists in setting up GHG Accounting and Reporting systems.

⁠

https://riverstone-enviro.com/climate-change-sustainability/ghg-emissions-accounting-and-reporting/

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ESG Associates

ESG Consulting Services

Provides tailored ESG consulting services based on client needs.

⁠

https://www.esg-my.com

⁠

Paia Consulting

Climate Change and Carbon Services

Help organizations prepare for a low-carbon, equitable and sustainable future.

⁠

https://paiaconsulting.com.sg/services/climate-change-carbon-services/

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OPTIMISE Malaysia

GHG and Carbon Accounting

Provide GHG and carbon accounting services following ISO 14064-1 standard. Helps establish a GHG baseline.

⁠

https://optimalsystems.my/consultancy-energy-solutions/ghg-carbon-accounting-assessment/

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Wellkinetics

ESG Consulting

Works with companies across sectors to drive sustainability initiatives in Malaysia. Focuses on safety, social performance and net zero goals.

⁠

https://wellkinetics.com.my

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LCOS

Carbon Management Platform

Cloud-based platform for corporations and SMEs to measure, manage and reduce GHG emissions.

⁠

https://www.mgtc.gov.my/lcos

⁠

BoardRoom Malaysia

ESG Consulting

Develops custom ESG risk management and implementation plans tailored to clients.

⁠

https://www.boardroomlimited.com/my/services/esg-malaysia/

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Solutions

Carbon accounting solutions help organizations measure, analyze, report on, and reduce carbon emissions across operations and supply chains. Core capabilities include data collection, calculations, visualizations, target setting, and integrations with other software systems. Leading solutions also provide advisory services to help clients develop net-zero strategies.

Applications

The primary applications for carbon accounting are:

ESG reporting for investors and regulators

Identifying emissions reduction opportunities

Supply chain decarbonization

Net zero strategy development

Sustainability program management

Industry Outlook

Key trends shaping the carbon accounting industry include automation, AI-powered data analysis, integration with financial planning, expansion into carbon removal tracking, and growth in advisory services. As more countries introduce emissions regulations and investor demand increases, carbon accounting adoption will continue to accelerate.

Carbon Accounting for ESG Intelligence

For businesses today, measuring and reporting emissions through carbon accounting has become a necessity for regulatory compliance, brand building, risk mitigation and operational efficiency. Here are the key steps for implementation:

1. Calculate Emissions Inventory

Collect data and calculate Scope 1, 2 and 3 emissions using methodologies like the GHG Protocol Corporate Standard. Prioritize accuracy through primary data collection.

2. Identify Reduction Opportunities

Pinpoint emission hotspots across operations and the value chain. Assess the feasibility of reductions using marginal abatement cost curves.

3. Set Science-Based Targets

Define science-aligned decarbonization targets, such as those validated by the SBTi. This signals a commitment to stakeholders.

4. Track Performance Over Time

Continuously update the emissions inventory and monitor performance against targets. Forecast future emissions based on business plans.

5. Assure Your Data

Verify your emissions data with a third-party auditor to ensure quality. This builds trust with investors and regulators.

6. Integrate Systems

Connect carbon accounting software with financial planning, ERPs and other core business systems for efficient data sharing and a single source of truth.

7. Report to Key Frameworks

Disclose emissions and progress to stakeholders via reports aligned with GHGP, CDP, TCFD and other major ESG reporting frameworks.

With the right carbon accounting software in place, organizations can efficiently collect, analyze and report emissions data while driving strategic reductions. This strengthens the business’s sustainability credentials and transparency for stakeholders.

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