Worldly and SGS partner to validate brands and manufacturers' factory data to support carbon, financial disclosures and compliance reporting
Now, Worldly customers can confidently collect and disclose their high-frequency energy, water and waste primary data through a single platform and validate it with SGS. This synergy ensures transparency and assurance, and reduces the cost and complexity of ESG and GHG disclosures
SAN FRANCISCO, May 16, 2023 /PRNewswire/ -- Worldly, the planet's most comprehensive impact intelligence platform for fashion and consumer goods businesses, and SGS, the world's largest testing, inspection and certification company, have launched a new sustainability-focused partnership.
Fashion and consumer brands and manufacturers can more efficiently collect and validate energy, water and waste data from their utility bills in order to track and report on their Environmental, Social and Governance (ESG) performance and reduce their impacts – all through a single platform.
"As consumers demand more transparency from the brands they love, and regulators and investors demand greater supply chain transparency, the fashion and consumer goods industries are under more pressure than ever to deliver trusted and validated primary impact data," said James Schaffer, Worldly's Chief Strategy Officer.
"Worldly's new partnership with SGS supports the consumer goods industry's need for validated, high-frequency, high-velocity primary data to report ESG progress and streamline regulatory disclosure efforts."
With over 140 years of adding value to society and a global network of experts, SGS will provide industry-leading, third-party validation of factory utility and waste data across the supply chain once it is securely uploaded to the Worldly platform.
SGS Assurance Services include a combination of site visits and remote reviews to help brands and manufacturers with transparent due diligence data reporting, Scope 3 carbon accounting, supplier engagement and emissions reduction efforts.
Brands and facilities can exchange the validated utility data safely through the Worldly platform, deepening trust and transparency among business partners across the global value chain, as well as customers, investors and regulators.
"Businesses have made deep commitments and set ambitious carbon reduction goals through pledges and programs like the Science Based Targets initiative (SBTi). However, until now, they have not had the level of trusted data required to effectively report their impact and progress at scale," added Jeff McDonald, SGS Executive Vice President.
"Through our strategic partnership with Worldly, SGS is excited to bring scalable, third-party data validation to the consumer goods industry, to help companies frequently and accurately report to stakeholders, comply with key legislation, enhance supply chain transparency and environmental efforts and claims, and reduce greenwashing risk."
The partnership came about because Worldly and SGS understand that, while the industry has made progress over the past decade through self-reporting of data, in recent years, expectations for faster impact reduction have grown as the urgency of climate change grows – increasing the demand for more reliable, externally validated supply chain data.
Emerging federal and state legislation in the U.S., and EU holding businesses accountable for their environmental impacts will also require disclosure of Scope 3 emissions and carbon data. Examples include the U.S. Securities and Exchange Commission (SEC) Climate Risk Disclosure Act, the New York Fashion Act and the EU Corporate Sustainability Reporting Directive (CSRD). Companies can begin preparing now by frequently gathering and validating primary impact data, such as energy, water and waste data.
Find out more about Worldly company launch and Worldly's new Factory Data capability.
Join us June 1 to learn more about Worldly, its factory data capability and SGS partnership.
About Worldly
Worldly is the planet's most comprehensive impact intelligence platform, trusted by 40,000+ major brands, retailers, and manufacturers in fashion, outdoor, home goods, toys and more. Worldly uniquely collects high-resolution primary data specific to companies' value chains, operations and products, providing insight into true impacts across carbon, water, chemistry and labor. Featuring the most comprehensive source of ESG data for global manufacturers and the largest library of materials and product impacts, Worldly empowers businesses to scale responsibility into their global operations, faster and more accurately. Hosting, connecting with, and supporting the leading industry solutions and methodologies including ZDHC, Bluesign, and the Higg Index – the most widely-adopted measure of sustainability in the apparel industry – Worldly delivers the insights businesses need to reduce their impact, comply with emerging regulatory and financial disclosure requirements and meet the expectations of a new generation of customers. www.worldly.io
About SGS
We are SGS – the world's leading testing, inspection and certification company. We are recognized as the global benchmark for sustainability, quality and integrity. Our 97,000 employees operate a network of 2,650 offices and laboratories, working together to enable a better, safer and more interconnected world.
SGS Assurance Services validate environmental data accuracy across the supply chain, through site visits and remote reviews. The benefits include:
- Confidence through data validated by a trusted third party
- Demonstrate progress toward environmental commitments and impacts
- Make sustainability-led decisions based on recent, updated and reliable data
- Substantiate environmental claims and minimize greenwashing risk
- Enhance transparency in your supply chain to better understand changes
- Comply with existing and upcoming environmental regulations
Media Contact:
WorldlyMedia@finnpartners.com
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