SEOUL, South Korea, Nov 24 (Bernama-BUSINESS WIRE) — Thingspire, a Korean decarbonization startup, today announced the initiation of its research with Korea Advanced Institute of Science and Technology (KAIST) on environmentally extended input-output (EEIO). Designed to facilitate organizations of varying sizes to effectively measure and report their Scope 3 emissions on purchased goods and services, Thingspire adopted a novel approach of cross-validating Korean Standard Industrial Classification (KSIC) subcategories against physical data.
Aimed at generating 381 or more emission factors, this research will produce the first set of spend-based emission factors that are uniquely tailored for seamless integration with any existing enterprise resource planner (ERP) in Korea, thereby helping organizations to measure and report Scope 3 emissions at ease. Thingspire’s spend-based emission factors from this ongoing research will complement its existing global emission factors database, which has its core strength in Asia-Pacific coverage. In addition, it can serve as a benchmark for both sustainability and purchasing managers to meet their sustainability KPIs.