10 Best Carbon Accounting Software Solutions of 2024

As global climate commitments intensify, carbon accounting software has become indispensable for businesses aiming to track, manage, and reduce their emissions. The EU Corporate Sustainability Reporting Directive (CSRD), effective from January 2023, mandates comprehensive sustainability reporting, impacting approximately 49,000 companies across Europe. This regulatory shift underscores the necessity for robust carbon accounting systems to ensure compliance and transparency. 

Did you Know?

A recent survey by the World Business Council for Sustainable Development (WBCSD) found that over 80% of companies recognise the importance of integrating sustainability into their core business strategies. 

This shift reflects a growing commitment to reducing carbon emissions and aligns with global climate goals, pushing organizations to adopt innovative tools and practices that support long-term environmental impact. In this blog, we’ll explore the top 10 carbon accounting software options for 2024, each designed to streamline emissions tracking and reporting. From advanced data integration to comprehensive Scope 1, 2, and 3 tracking, these tools provide the foundation for transparent, data-driven sustainability strategies.  

As the World Resources Institute notes, carbon accounting is essential for making sustainability efforts measurable and actionable, enabling businesses to set and achieve meaningful climate goals.  

Let’s dive in! 

What is Carbon Accounting Software?

Carbon accounting software is a powerful tool that enables businesses to track, measure, and report their carbon emissions accurately. Think of it as a data-driven approach to understanding and managing your environmental impact.  

If you are struggling to keep up with complex environmental regulations or wondering how to make sustainability goals actionable then this software is for you. It helps businesses comply with ever-evolving environmental standards and make informed, impactful decisions. 

Fact Time

• In January 2024, the EU allocated €600 million via the Connecting Europe Facility for eight cross-border projects to decarbonize energy systems across multiple countries, supporting EU climate goals.

• In October 2024, Germany committed €3 billion over 15 years to decarbonize subsidies in sectors like glass, paper, and chemicals, targeting a $17 million metric ton emissions reduction.

The substantial investments in decarbonization and sustainable energy projects worldwide highlight a global commitment to combating climate change. These collaborative efforts are driving technological innovations and sustainable practices that contribute to a collective goal. 

With the right carbon accounting system, companies can meet compliance needs and gain valuable insights to drive meaningful change, positioning sustainability as a core part of their strategy. Mavarick’s carbon accounting software goes a step further, offering precise tracking and reporting tools that empower businesses to transform climate goals into actionable, data-driven results. 

What to Look for While Choosing Carbon Accounting Software? 

1. Scope Coverage 

Look for carbon accounting software that fully covers Scope 1, 2, and 3 emissions to capture a complete view of your organisation’s carbon footprint. Comprehensive scope coverage is essential for accurate sustainability reporting and helps businesses identify emissions across direct operations, purchased energy, and the supply chain. 

2. Integration Capabilities 

Ensure the software integrates seamlessly with your existing data systems like ERP, CRM, and energy management tools. A well-integrated carbon accounting system allows for smoother data flows, minimising manual input and improving overall data accuracy, which is vital for real-time tracking and reliable insights. 

3. Compliance and Standards 

Choose software that aligns with established standards like the GHG Protocol or ISO 14064 certifications. This ensures that your emissions data is credible, transparent, and audit-ready, helping your business meet regulatory requirements and strengthen stakeholder confidence. 

4. User Experience 

An intuitive, user-friendly interface is crucial. Look for carbon accounting tools that offer streamlined navigation and clear, accessible dashboards. This enhances productivity for team members managing emissions data, making complex sustainability tasks more manageable. 

5. Customisable Reporting 

Opt for software with flexible reporting capabilities to cater to diverse stakeholder needs. Customisable reporting allows you to generate tailored reports for investors, regulatory bodies, and internal teams, ensuring that each audience receives the most relevant insights. 

6. Collaboration Tools 

Real-time collaboration features are a must, especially for larger organisations. With effective collaboration tools, team members and external auditors can access and review data easily, facilitating a more transparent and efficient reporting process. 

How Carbon Accounting Software Covers Scope 1, 2, and 3 Emissions? 

Scope 1 Emissions 

Scope 1 includes direct emissions from sources owned or controlled by the company, such as company vehicles, boilers, or on-site fuel combustion. 

How does carbon accounting software help? 

• Carbon accounting software simplifies the tracking of Scope 1 emissions by automatically capturing and calculating data from operational sources.  

• By integrating with internal systems, these tools provide real-time visibility into direct emissions. 

• This allows companies to accurately monitor and manage emissions at their source and take actionable steps to reduce their primary carbon footprint. 

Scope 2 Emissions 

Scope 2 emissions cover indirect emissions from the generation of purchased energy, such as electricity, steam, and heating or cooling used by the company. 

How does carbon accounting software assist? 

• Carbon accounting software assists in tracking Scope 2 emissions by integrating with utility data and automatically calculating emissions based on energy consumption.  

• These tools offer insights into energy-related emissions, helping companies identify high-impact areas. 

• They help organisations make data-driven decisions to improve energy efficiency and reduce their overall carbon footprint. 

Scope 3 Emissions 

Scope 3 emissions are the most extensive and complex, encompassing all other indirect emissions that occur within a company’s value chain. This includes emissions from suppliers, transportation, product use, and disposal. 

How does carbon accounting software support this process?

• Carbon accounting software simplifies Scope 3 emissions tracking by consolidating data from multiple stakeholders across the supply chain.  

• Through features like supplier data integration, automated calculations, and detailed reporting, these tools enable companies to capture and analyse emissions from diverse sources.  

• This comprehensive coverage of Scope 3 helps organisations manage emissions beyond their direct control, fostering more sustainable practices throughout the entire value chain. 

10 Best Carbon Accounting Software to Look Out for in 2024 

1. IBM Environmental Intelligence Suite 

The IBM Environmental Intelligence Suite is a powerful platform tailored for organisations that want to embed environmental intelligence into their strategic decision-making. Known for its advanced data analytics and seamless integration capabilities, the suite provides a holistic approach to climate risk management and sustainability solutions.  

Its real-time environmental data insights allow businesses to monitor and respond to risks instantly—whether facing severe weather events or supply chain disruptions—enhancing both risk mitigation and operational resilience.  

By consolidating data on climate, weather, and environmental metrics, the suite helps companies track sustainability targets, manage regulatory compliance, and proactively address environmental challenges.  

Features 

Some of the features of the Environmental Intelligence Suite are; 

• Real-Time Weather Insights and Alerts: Provides real-time weather insights and automated alerts, enabling businesses to proactively address and mitigate environmental risks.
• Geospatial and Weather Forecasting: Delivers precise weather forecasts and geospatial insights, helping companies anticipate disruptions and protect operations with accurate environmental data.
• Industry-Specific Analytics: Offers tailored analytics for various industries, allowing organizations to optimize operations and improve their response strategies based on specific environmental conditions.
• Customizable Dashboards: Allows users to track KPIs and set customized weather alerts, focusing on critical metrics to act swiftly and effectively.
• Streamlined Monitoring Services: Combines visualizations, alerts, and geospatial insights in a single dashboard, making it easier to monitor critical sites and make informed decisions.

IBM’s Environmental Intelligence Suite empowers organisations to stay resilient, compliant, and sustainable in an unpredictable world. As per G2 ratings and reports let us understand the pros and cons of the platform in a gist.  

Pros 

1. Comprehensive Solution for Multiple Industries: The IBM Environmental Intelligence Suite provides an all-in-one solution that is adaptable across industries like logistics, manufacturing, and geospatial data solutions, making it versatile for businesses with diverse needs. Easy Integration with Other Software and APIs
2. Industry-Specific Usability: This suite is particularly effective for sectors like energy, logistics, and weather-related applications, making it a practical choice for organisations needing to monitor and respond to weather and climate data. 

Con

1. Limited Scalability and Integrations: The suite is still releasing updates, so scalability and integration options are somewhat limited compared to more established platforms, which could restrict flexibility for certain users.

Mavarick

Mavarick is an audit-ready carbon accounting platform designed to ensure transparency and verifiability of emissions data, covering Scope 1, 2, and especially Scope 3 for supply chains. Mavarick empowers organizations—large enterprises and SMEs alike—to navigate the challenges of tracking indirect emissions across intricate supplier networks, facilitating accurate carbon footprint management even in the most complicated supply networks. 

The platform’s intuitive tools focus on high-impact emission areas within supply chains, enabling collaboration with sustainable suppliers and meeting regulatory demands while driving real emissions reductions. Certified to standards like ISO 27001 and aligned with the GHG Protocol, Mavarick offers a reliable, end-to-end solution for organizations pursuing sustainability goals. 

Features 

• Supply Chain and Scope 3 Emissions Tracking: Helps you access supplier carbon data effortlessly to capture full Scope 3 emissions across complex supply chains. 
• Carbon Emissions Data Quality and Capture: Ensures accurate, reliable emissions data that you can confidently rely on for transparent reporting.  
• Regulatory Emissions Reporting: Generates audit-ready, regulatory-compliant reports with ease to meet industry standards. 
• Carbon Footprint Software: Tracks your complete carbon footprint and monitors progress toward net-zero goals. 
• AI-Powered Decarbonization: Leverages AI to forecast emissions trends and identify key decarbonization opportunities within your operations. 
• Carbon Auditing and Assurance: Simplifies your carbon reporting process with tools for verified, audit-ready data, enhancing com

Pros 

1. Management of Complex Supply Chains: Mavarick offers tools to manage Scope 3 emissions across intricate supply chains, providing full visibility and accurate carbon tracking within complex networks.
2. AI-Driven Decarbonization: Leveraging advanced AI technologies, Mavarick offers actionable insights for industrial decarbonization. The platform’s AI-driven tools identify high-impact decarbonization opportunities, automate data verification, and provide tailored recommendations, streamlining the path toward sustainability. 

Con

1. May Require Initial Setup and Training: Due to its comprehensive features and compliance capabilities, the platform may require initial setup and user training to fully leverage its functionality, which could be a consideration for smaller teams.

3. BCG AI

BCG AI specialises in tracking emissions across complex supply chains, addressing the unique challenges that come with managing Scope 3 emissions. For businesses with extensive value chains, BCG AI offers a tailored solution that accurately monitors emissions from suppliers, transportation, product lifecycle, and more.  

By focusing on Scope 3 emissions, BCG AI enables companies to gain a comprehensive view of their indirect carbon footprint, which is essential for creating a truly sustainable operation. 

Features 

Here are some of the key features of BCG AI: 

• AI-Driven Customer Insight: BCG uses AI to deliver hyper-personalized customer insights, helping companies improve customer acquisition, retention, and engagement by predicting behavior and preferences.
• Supply Chain Optimization through AI: Provides AI tools to enhance supply chain efficiency, reduce costs, and improve resilience by analyzing real-time data and predicting supply chain disruptions.
• Generative AI for Content Creation: Integrates generative AI to support content creation and automation, allowing companies to streamline marketing, customer service, and operational content generation.
• Predictive Maintenance and Operations: Uses machine learning to predict equipment failures and optimize maintenance schedules, reducing downtime and operational costs for manufacturing and industrial clients.
• Risk Management and Fraud Detection: Leverages AI models to detect anomalies and potential fraud in real-time, enhancing security measures and protecting business assets in finance and other sensitive sectors.

Pros: 

1. Tailored Solutions Across Industries: BCG AI offers tailored AI solutions for various sectors, including supply chain and finance, aligning with specific operational needs. 
2. Ethical and Compliant AI Practices: BCG emphasises on ethical and compliant AI practices, building trust and reducing the risks in AI adoption. 

Con: 

1. Complex Implementation: Deploying BCG AI can be challenging, often requiring significant resources and expertise for integration and optimal use.

4. Watershed

Watershed is a leading platform focused on helping businesses achieve sustainability through streamlined carbon management. The platform emphasises automated data collection, allowing organisations to seamlessly integrate emissions data from existing enterprise systems.  

This integration enables companies to capture real-time insights into their carbon footprint, making data-driven decisions faster and more efficiently. For companies committed to accurate and continuous emissions tracking, Watershed provides an efficient solution to support their sustainability goals. 

Features 

Let’s take a look at some of the features of this platform; 

• CSRD Compliance Tools: Provides specialized tools to generate audit-ready, CSRD-compliant sustainability reports, ensuring companies meet European regulatory standards.
• Financed Emissions Tracking for Finance Sector: Offers solutions to measure, manage, and reduce carbon emissions from investment portfolios, helping financial institutions achieve sustainability goals.
• Supply Chain Emissions Management: Enables companies to track, analyze, and reduce Scope 3 emissions across complex supply chains, supporting comprehensive carbon management.
• Comprehensive Environmental Data Archive (CEDA): Provides access to 60,000 emissions factors across 400 industries, ensuring accurate Scope 3 data for robust environmental reporting.
• Audit-Ready Transparency and Assurance: Ensures data is fully transparent and audit-ready, with clear calculations and documentation, making compliance and verification easier. 

Pros 

1. Comprehensive Emissions Management: Watershed enables companies to measure, report, and act on their carbon footprint with audit-grade data and tools, facilitating effective sustainability programmes.  
2. Supply Chain Emissions Tracking: The platform offers tools to manage emissions across the supply chain, addressing Scope 3 emissions, which are often the most challenging to quantify and reduce.  

Con   

1. Implementation Complexity: Integrating Watershed into existing business processes may require significant effort and resources, particularly for companies without established sustainability programmes.  

5. Sphera

Sphera is a leading platform designed to support sustainability, safety, and risk management across various industries, including chemicals, oil & gas, and manufacturing. Through its SpheraCloud platform, organisations gain a centralised solution for tracking and managing environmental, health, safety, and sustainability (EHS&S) data.  

This all-in-one approach enables companies to streamline complex processes and prioritise sustainability while meeting industry standards and compliance requirements. 

Features 

• EHS&S Management Software: Sphera’s Environment, Health, Safety & Sustainability (EHS&S) platform offers tools for environmental compliance tracking, incident management, and occupational health monitoring, providing a single interface for regulatory and safety data management.
• BowTie Risk Assessment and Barrier Management: The Operational Risk Management suite includes BowTie methodology for visual risk assessment and barrier management, enabling companies to proactively address potential risks and improve safety in complex operations.
• Product Compliance and Hazard Communication: Sphera’s Product Stewardship solution ensures global regulatory compliance for chemicals and materials, including hazard communication, Safety Data Sheet (SDS) authoring, and regulatory data management for comprehensive product lifecycle compliance.
• Supply Chain Risk and ESG Performance: The Supply Chain Transparency platform enables full visibility into supplier ESG metrics, helping organizations monitor, manage, and mitigate risks related to environmental, social, and governance (ESG) factors across their supply chains.
• Life Cycle Assessment (LCA) and ESG Strategy Consulting: Sphera’s Sustainability and ESG Consulting service provides Life Cycle Assessment (LCA) tools and expert guidance to develop ESG strategies, enhance sustainability reporting, and measure impact across operations. 

Pros   

1. Comprehensive Risk Management: Sphera offers integrated solutions for operational risk, environmental performance, and product stewardship, enabling organisations to manage risks effectively across various domains.  
2. User-Friendly Interface: Users appreciate Sphera’s intuitive platform, which simplifies compliance processes and enhances safety in the work environment.  

Con   

1. Complex Usability: Some users find certain modules of Sphera to be complex and in need of set-up assistance, indicating a learning curve for new users.  

6. Sinai Technologies

Sinai Technologies is a leading carbon accounting software platform that specialises in helping businesses develop effective decarbonisation strategies. Known for its advanced scenario analysis and modelling tools, Sinai enables companies to explore different pathways for reducing emissions and to identify the most impactful actions for long-term sustainability.  

This carbon accounting tool is especially valuable for industries with complex carbon footprints, such as manufacturing, logistics, and energy, where emissions tracking and reduction planning require tailored approaches. 

Features 

• Enterprise Carbon Strategy: Offers a comprehensive carbon management solution to measure, analyze, and reduce emissions, enabling companies to align with regulatory and sustainability goals.  
• Science-Based Target Setting: Provides tools to help organizations set and achieve science-based targets, ensuring emissions reduction aligns with climate science.
• Transportation Sector Decarbonization: Designed for the transportation industry, SINAI’s platform helps manage Scope 1-3 emissions, forecasting and scenario planning to support decarbonization strategies.
• Industrial Sector Emissions Management: Enables industrial clients to track emissions across production processes, optimize carbon strategies, and explore reduction opportunities.
• Utilities Sector Solutions: SINAI provides utilities with tools for emissions forecasting, scenario analysis, and sustainable investment planning, supporting net-zero transitions. 

Pros  

1. Advanced Scenario Analysis: Sinai offers sophisticated modelling tools that enable companies to simulate various decarbonisation strategies, facilitating informed decision-making for long-term sustainability.  
2. Comprehensive Emissions Coverage: The platform supports detailed calculations for Scope 1, 2, and 3 emissions, making it suitable for industries with complex carbon accounting requirements.  

 Con 

1. Complex for Smaller Enterprises: Due to its advanced features and focus on large-scale operations, Sinai’s platform may present a steep learning curve for smaller businesses with limited resources. 

7. Persefoni

Persefoni is a powerful carbon accounting software platform designed to simplify emissions tracking and compliance. Known for its strong focus on GHG Protocol compliance, Persefoni provides user-friendly dashboards and detailed reporting capabilities, helping businesses and investors understand, measure, and manage their carbon footprint effectively. 

Features 

• Carbon Footprint Measurement & Analytics: Provides tools for measuring Scope 1, 2, and 3 emissions with detailed analytics to support comprehensive carbon footprint assessments. 
• Decarbonization Management: Assists in setting decarbonization goals and analyzing scenarios to help organizations develop and execute effective emission reduction strategies. 
• Industry-Specific Emissions Profiles: Provides tailored insights for sectors like hospitality, helping industry-specific businesses understand typical emissions sources and benchmarks, aiding in targeted reduction efforts. 
• Audit-Ready Data Management: Ensures emissions data integrity with robust data management practices, making the platform audit-ready for both internal and external reviews. 
• Automated Carbon Calculations: Leverages automated calculations to streamline emissions tracking, reducing manual entry and increasing accuracy in emissions data reporting. 

Pros  

1. High Compliance Standards: Persefoni aligns with the GHG Protocol, ensuring rigorous compliance for businesses.  
2. Clear Data Visualisation: The platform offers intuitive dashboards that transform complex emissions data into actionable insights. 

Con

1. High Cost for Smaller Organisations: Persefoni’s extensive features and compliance tools can come with a premium price tag, potentially making it less accessible for smaller businesses or those with limited budgets.  

8. Greenly

Greenly is a carbon accounting platform tailored for small to medium enterprises (SMEs) seeking an intuitive solution to measure and manage their carbon emissions. The platform offers step-by-step guidance to help businesses track their emissions and implement strategies to reduce their carbon footprint.  

By integrating with various data sources, Greenly provides comprehensive emissions tracking, ensuring that companies have a holistic view of their environmental impact.  

Features 

• Activity-Based and Spend-Based Carbon Assessment: Combines both activity-based and spend-based methods to provide a comprehensive and precise carbon assessment, using real transaction data to estimate emissions. 
•  Scope 1, 2, and 3 Emissions Tracking: Tracks emissions across Scope 1, 2, and 3, providing a full view of an organization’s carbon footprint to support effective emission reduction strategies. 
• Sector Benchmarking: Offers industry-specific benchmarking tools, allowing companies to compare their emissions with sector averages to identify improvement areas. 
• Life Cycle Analysis (LCA): Provides multi-criteria life cycle assessments to evaluate the environmental impact of products and processes across their entire lifecycle. 
•  Science-Based Target Setting: Supports companies in setting emission reduction targets consistent with the Science Based Targets initiative (SBTi) framework, helping them align with global climate goals. 

Pros 

1. Tailored for SMEs: Greenly’s platform is specifically designed to meet the needs of small to medium enterprises, making carbon accounting accessible and straightforward.  
2. Comprehensive Data Integration: By integrating with various data sources, Greenly ensures that businesses have a complete and accurate view of their emissions.  

Con 

1. Limited Advanced Features: While ideal for SMEs, larger enterprises with more complex carbon accounting needs may find Greenly’s features less comprehensive compared to other platforms. 

9. Diligent

Diligent is a comprehensive carbon accounting software platform that integrates seamlessly with existing ESG reporting and governance systems. It offers robust data management tools to help companies align with international standards, ensuring that reports are audit-ready.  

The platform emphasises data security and transparency, providing organisations with the confidence needed for accurate and compliant reporting. 

Features 

• Boards and Governance Management: Provides tools for board oversight, governance tracking, and document sharing, allowing board members to make informed, timely decisions with secure access to key governance data.
• Risk and Strategy Management (Pillar Hub): Centralizes risk and strategy insights with real-time data to help companies proactively manage risks, align strategies, and integrate risk into decision-making.
• Audit and Analytics: Offers advanced audit tools, including analytics and automated reporting, enabling organizations to perform in-depth audits, track issues, and maintain compliance with ease.
• ESG and Diversity Reporting: Supports organizations in tracking and reporting on ESG and diversity metrics, enhancing transparency for stakeholders and aligning with evolving ESG standards.
• Compliance and Ethics Management: Provides a comprehensive platform for policy management, regulatory tracking, and third-party risk management, ensuring ethical standards and regulatory compliance across operations. 

Pros 

1. User-Friendly Interface: Users appreciate Diligent’s intuitive design, which simplifies the process of managing ESG data.  
2. Excellent Customer Support: The platform is known for its responsive and helpful customer service team. 

Con  

1. Complexity for New Users: Some users find that the platform’s extensive features can be overwhelming initially. 

10. Sustainlife 

Sustainlife is a user-friendly carbon accounting platform designed for businesses aiming to streamline emissions reporting. It facilitates the tracking of Scope 1, 2, and 3 emissions, offering customisable reporting and export options to effectively communicate insights with stakeholders. 

Features 

• Reporting & Disclosures: Simplifies the emissions reporting process across various frameworks, ensuring organizations meet regulatory and stakeholder requirements.
• Purchased Goods & Services: Automates emissions calculations for supply chain activities, particularly for purchased goods and services, supporting Scope 3 tracking.
• Carbon Accounting: Provides tools for calculating and tracking emissions, enabling organizations to maintain accurate carbon accounting records.
• Emissions Targets: Allows companies to set and track science-based emissions reduction targets, aligning with climate goals.
• Auditing & Verification: Ensures data quality and accuracy by supporting auditing and verification processes, facilitating reliable climate reporting.

Pros 

1. Ease of Use: The intuitive interface simplifies the carbon accounting process for businesses.  
2. Comprehensive Tracking: Provides a complete overview of emissions across all scopes. 

Con

1. Resource Intensity for Comprehensive Use: While Sustainlife offers extensive tools, fully leveraging them might require dedicated internal resources or additional expertise, which can be challenging for smaller organizations.

Future of Carbon Accounting Software  

The landscape of carbon accounting software is rapidly evolving, driven by exciting trends like AI-driven insights and real-time monitoring. Imagine being able to forecast your emissions trends and spot inefficiencies instantly! As highlighted by Accounting Carbon, “AI offers many opportunities to revolutionise carbon accounting. With increasing regulations, such as the EU’s Corporate Sustainability Reporting Directive (CSRD), businesses must adapt to ensure compliance.  Moreover, the shift towards integrated platforms that combine carbon accounting with ESG tracking provides a holistic view of sustainability efforts. IBM’s Environmental Intelligence Suite exemplifies this trend, blending data management with actionable insights. 

As the demand for data transparency grows, future software will incorporate collaboration tools, enabling real-time communication among stakeholders. This will enhance accountability and drive collective progress towards sustainability.  With selecting the right carbon accounting software, it is essential to managing emissions and ensuring compliance with regulations. Platforms like Mavarick and other leading tools are vital for achieving sustainability goals by streamlining emissions tracking and providing actionable insights. 

We encourage readers to explore software options that align with their organisational needs and future sustainability plans. Investing in effective carbon accounting tools will empower businesses to navigate their sustainability journeys confidently. Mavarick is here to support your sustainability goals every step of the way. Make the shift today and drive meaningful impact with us!