Key Takeaways:
- Terrascope introduces a new FLAG (Forest, Land, and Agriculture) module in its SaaS platform for land-intensive sectors.
- The module aims to improve carbon accounting and support sustainability goals aligned with science-based targets.
- FLAG emissions are crucial as food and agriculture contribute 34% of global emissions.
- The new tool aligns with SBTi and GHG Protocol standards, aiding enterprises in managing land-based emissions.
Terrascope, a leading enterprise decarbonization platform, has launched a new module within its software-as-a-service (SaaS) platform. This development explicitly targets enterprises in land-intensive sectors, facilitating measuring and managing Forest, Land, and Agriculture (FLAG) emissions.
Understanding FLAG and Its Importance
The FLAG module is a critical addition to Terrascope’s platform, making it one of the first SaaS solutions to incorporate FLAG emission capabilities. This enhancement is vital as the food and agriculture value chain accounts for about 34% of global emissions, primarily due to upstream activities like deforestation, land use changes, and agricultural practices. With the direct link of these activities to land use emissions, there is an urgent need for tools like Terrascope’s FLAG module.
Terrascope’s FLAG Module Features
Maya Hari, CEO of Terrascope, emphasizes the importance of this module in aiding enterprises on their decarbonization journey, especially in the food and agriculture sectors. The FLAG module is designed to:
- Comply with the Science-Based Targets initiative (SBTi) and align with the new GHG Protocol for land sector removals.
- Enable measurement of land-based emissions from operations and supply chains.
- Support decarbonization initiatives, including carbon sequestration and land management.
Operational and Strategic Benefits
The FLAG module aids enterprises in the following:
- Starting with FLAG screening to determine exposure and the need for SBT FLAG Targets.
- Deploying measurement tools for land use change estimation and emissions from farming activities.
- Disaggregating FLAG emissions from third-party databases and consolidating them into separate inventories.
- Setting SBTI-aligned FLAG targets and formulating long- and short-term decarbonization plans.
Nikita Asthana, Global Head and Vice President of Sustainability Finance at Olam Agri notes the pivotal role of Terrascope’s FLAG module in enhancing their decarbonization strategy. The module streamlines reporting and effectively manages land-related emissions in line with sustainability goals.
Future Developments and Impact
Terrascope’s commitment to supporting material emissions reductions in the Food and agriculture sector is evident in its roadmap. In upcoming releases, the platform will introduce additional capabilities, including emissions calculations from land use change, farming activities, Commodity Pathways, and Land Sector Carbon Removals.
Image provided by Terrascope
