Global Carbon Accounting Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Carbon Accounting Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Carbon accounting software analyzes, calculates, measures, and reports a business' greenhouse gas (GHG) emissions for audit purposes. Using carbon accounting software helps companies manage carbon emissions, meet environmental goals, ensure companies meet regulatory and stakeholder expectations, increase transparency and protect companies from reputational damage.

Market Overview:

The latest research study on the global Carbon Accounting Software market finds that the global Carbon Accounting Software market reached a value of USD 254.72 million in 2022. It’s expected that the market will achieve USD 996.76 million by 2028, exhibiting a CAGR of 25.53% during the forecast period.

Technological advances for carbon neutrality

Technology will play an irreplaceable supporting role in achieving the goal of carbon neutrality. Carbon neutral technologies can be divided into two categories: low-carbon/zero-carbon technologies and negative emission technologies. The first category is technologies characterized by reduced carbon emission intensity or zero carbon emissions, aiming to reduce human-generated carbon emissions as much as possible; the second category is to reduce carbon emissions that have already been generated through capture and storage. Reducing production and eliminating excess inventory is the minimum technical logic to achieve neutralization

Therefore, enterprises and organizations require different innovative technologies due to different carbon emission characteristics and emission reduction goals.

During the peak period, the main goal of mankind is to achieve a high-quality peak of carbon dioxide emissions on the premise of taking into account the sustainable development of society and the economy. Therefore, at this stage, organizations need to further release the potential of low-carbon/zero-carbon technologies such as energy-saving recycling technology and clean energy technology. With the deepening of development, carbon emissions will be significantly reduced, and the marginal contribution of low-carbon/zero-carbon technologies to carbon neutrality will gradually become smaller. Relevant studies have shown that 15% of energy consumption and carbon emissions cannot be reduced. At this time, there is a need for breakthrough and large-scale promotion and application of negative emission technologies, including agricultural and forestry carbon sequestration, carbon capture, utilization and storage (CCUS), direct air carbon capture (DAC), etc.

In the process of meeting carbon emission standards, carbon accounting software can calculate and record direct (Scope 1) and indirect (Scope 2) emissions, as well as indirect emissions outside the organization (Scope 3) by the Greenhouse Gas (GHG) agreement to help organizations manage carbon emission.

Benefits of carbon accounting software

The scale, standardization, and coding of information are the important basis and premise of computer applications. Timely, accurate, large-scale, standardized, and coded entries of important data will help improve production efficiency and service quality in various industries. With the help of carbon accounting software, information can be collected and processed in one stop to ensure the accuracy of information. The integration and effective transmission of information not only bring about the unity and speed of the process but also brings convenience to the management. Information technology can also help people find errors as quickly as possible and respond promptly. At the same time, carbon accounting software can also help promote the standardization of business processes and the improvement of working methods, omitting a series of tedious and unnecessary work processes, making the work processes clear and effective, and greatly improving the work efficiency of enterprises. Carbon accounting software can help reduce manual involvement in the management process and achieve strict management with a reduced workload. In addition, the paperless construction through digital means has completely changed the business blindness, looseness, confusion, and randomness caused by manual or one-way stand-alone management, and further embodies the characteristics of wide coverage and high efficiency of network management. At the same time, the result data contained in the software records all historical records, so data retrieval is fast and convenient, and it is convenient for future traceability. Therefore, the versatility and high efficiency of carbon accounting software bring convenience to business management and are expected to promote market expansion.

Region Overview:

In 2022, the share of the Carbon Accounting Software market in North America stood at 38.54%.

Company Overview:

The major players operating in the Carbon Accounting Software market include Sphera, Enablon,, Salesforce, Plan A, IBM (Envizi), etc. Among which, Sphera ranked top in terms of sales and revenue in 2023.

Sphera is the leading provider of Environmental, Social, and Governance (ESG) performance and risk management software, data, and consulting services focusing on Environment, Health, Safety & Sustainability (EHS&S), Operational Risk Management (ORM), Product Stewardship and Supply Chain Risk Management (SCRM). Through SaaS software, proprietary data, and consulting services, Sphera’s experts work with organizations around the world to help them surface, manage, and mitigate risk in the areas of Environment, Health, Safety & Sustainability, Operational Risk Management, Product Stewardship.

Enablon, a Wolters Kluwer business, is the world’s leading provider of Sustainability, EHS, and Operational Risk Management Software. More than 1,000 global companies and millions of users all around the world call Enablon their software.

Enablon’s mission is to enable the Sustainable Company. It offers the industry's most comprehensive enterprise EHS software platform with technology, content, and services that help large & complex organizations manage risks, ensure compliance and continually improve operational excellence.
Enablon also hosts the Sustainable Performance Forum (SPF), a global conference series for forward-thinking EH&S, Sustainability, Risk, and IT professionals with a focus on people, processes, and technology which gathers every year over 1,000+ attendees around the globe through five global and regional events.

Segmentation Overview:

By type, Cloud-Based segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Oil and Gas segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Carbon Accounting Software market covered in Chapter 3:

The Carbon Accounting Company
Altruistiq
Pangolin Associates
Greenly
Carbon Analytics
Salesforce
IBM (Envizi)
Evalue8
Enablon
Watershed
Persefoni
Emitwise
Sweep
ESP (BraveGen)
3E Group (CarbonetiX)
Manufacture2030
Sphera
Plan A
Carbonstop
NetZeroNow
Normative
Carbonbase
Net0

In Chapter 4 and Chapter 14.2, on the basis of types, the Carbon Accounting Software market from 2018 to 2029 is primarily split into:

Cloud-Based
On-Premise

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Carbon Accounting Software market from 2018 to 2029 covers:

Power Generation
Iron and Steel
Cement
Chemical
Oil and Gas
Non-Ferrous Metal
Ferrous Metal
Paper
Glass
Plastic
Packaging
Logistics/transportation/distribution
Publishing/media
Printing
Marketing
Food & beverage
Personal care
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)