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Life Cycle Assessment & Costing (LCA-LCC) Digital Platform
The Life Cycle Assessment & Costing (LCA-LCC) Platform is a science-based, collaborative digital software platform that empowers businesses to strike a balance between economic feasibility and sustainability. Sustainability is increasingly becoming part of the business line in ensuring a business’s long-term goals and operations. Carbon footprint accounting is an important starting point for businesses to analyse their current activities and allow businesses to plan for realistic goals in carbon reduction effort. While the LCC component analyse the total cost over the whole lifespan of an asset which can be used to assess the economic feasibility of various sustainability plans.
As a unified platform for quantifying sustainability effort and reporting, it addresses the needs of various stakeholders and industry sectors (e.g. public sector agencies, high emission companies, and consulting firms). The platform facilitates the building of a localised knowledge-based Life Cycle Inventory (LCI) through a collaborative approach.
Additionally, the platform evaluates both environmental and economic impact using a unified model, to help businesses and policymakers in their decision-making processes and in achieving their sustainability goals.
Technology Features, Specifications and Advantages
Value Propositions Statement
For public sector agencies, companies, and consulting firms that are embarking on embracing the sustainability trend, the LCA-LCC Platform is a simplified and comprehensive sustainability assessment tool that provides customized reports with localized (i.e. Singapore-based) emission data, that can be used for sustainability planning to reduce carbon emission, acquiring carbon credits and computing carbon tax
The LCA-LCC Platform takes reference from the ISO14040/44/64-1 International Standards
- Support services provided on-site, remotely, and via face-to-face training courses; these support services are led by scientists and engineers who are trained extensively in the sustainability domain.
- Expansive database for localized (o.e. Singapore-specific) and representative data points.
- Provide assessments for both environmental impact and economic feasibility.
The LCA-LCC platform is applicable to all sectors that are interested in articulating and reporting on their sustainability initiatives.
The applications include :
- Validate ‘eco-friendliness’ of processes, products, and services over the entire life cycle.
- Benchmark environmental and economic performance of products and processes.
- Identify sustainability hotspots and set targets to reduce greenhouse gas emissions.
- Support eco-design.
- Support systematic planning and maximise financial return of investment of sustainability initiatives.
The intended users include :
- Public Agencies; corporate strategy and policy formulation departments etc.
- Consulting Firms which offer LCA-LCC services.
- Corporate Reporting Companies.
- Financing Firms in Green Finance.
- High Emissions Companies; corporate strategy and product management departments etc.
- Provides businesses with the competency to identify high emissions activities and/or materials with high embedded emissions, which prompts the need to optimise such activities or replace materials with those that lower embedded emissions.
- Product and/or organizational LCA-LCC can be used for environmental, social, and corporate governance (ESG) reporting and/or corporate and marketing communications.
- Enables companies to compute and estimate carbon tax.
- Potential opportunities where quantified sustainability initiatives may allow companies translate carbon saving into carbon credits for trading and monetary gains
- Empowers companies to quantify their sustainability initiatives, and conduct various scenario planning while analysing trade-offs