Quantifying the ‘planet price’ of procurement

A platform tracks the true environmental cost of supply chains

Spotted: While many businesses are committed to reducing their carbon usage, it’s not a straightforward task to monitor the footprint of all their suppliers. To enact change, procurement teams need a way to track and balance economic, environmental, and social considerations across their entire supply chain. This is the purpose of Planet Price: to help businesses transition to a more sustainable future by calculating the real cost of everything.

Most solutions focus on carbon accounting, but for many industries, greenhouse gases represent only around 20-25 per cent of the overall environmental impact. The real cost of production includes not only the obvious costs, like materials and building costs, but also unseen impacts of water use, land use, and toxic emissions at all points of the supply chain.

The Planet Price platform provides everything organisations need to quickly and easily conduct top-down and bottom-up analyses of their supply chain, quantifying the full impact that procurement decisions have on the planet.

Key features of the platform include multi-regional data of more than 400 industries across 149 countries; heat maps of product and supplier hotspots; and data from multiple sources. The platform then leverages AI and other proprietary technologies to conduct analyses of products and services across supply chains.

In 2023, Planet Price announced a strategic partnership agreement with Beca – a leading multi-disciplinary advisory, design, and engineering consultancy in the Asia Pacific. The partnership will provide clients with greater capacity for measurement, analysis, and insights into the true planetary costs associated with their supply chains, business operations, and capital projects.

Written By: Lisa Magloff