According to the study, “40% of global CEOs think their organization will no longer be economically viable in ten years’ time, if it continues on its current course.” PwC posed nine questions, including “When will your company’s climate clock run out?”, “How do your resilience and your workforce strategies fit together?”, and “How much time and money are you investing in the future?” The answers they received from CEOs across the world indicate just how important it is for company leaders to start making business adjustments for the future.
At TIE Kinetix, these are the type of questions that we’re constantly asking not only ourselves, but also our current and future customers. As a digitalization company, we hold our ESG (environmental, social, and governmental) goals in high regard since the nature of our business (among other things, of course) is to support other companies in theirs as well. One of our priorities is to help our customers become 100% digitalized within their supply chains, or, effectively, enable them to run completely paperless supply chains.
Businesses need to be aware of the climate standards set by their government. Though these regulations vary from country to country, and sometimes even by region, it’s difficult to find a business exempt from any controlled climate laws.
In the United States, for example, the SEC has proposed rules to enhance the reporting and disclosure process of climate-related information for investors. These proposed rules, introduced in March of 2022, would require companies to include certain climate-related disclosures in their registration statements and periodic reports. If accepted, these rules would make public GHG (greenhouse gas) emissions data from companies across the US, holding each company directly responsible for their effects on the climate.
In Europe, these standards are much more well-defined. Under the European Climate Law, EU countries must cut GHG emissions by at least 55% by 2030, with the goal of being climate neutral by 2050. In the Netherlands, where TIE Kinetix is headquartered, the Dutch government has proposed a 49% reduction in GHG emissions by 2030, and a 95% reduction by 2050.
There are many steps individual company executives can take to improve the status of their company’s climate effects, specifically within the supply chain. A digitalization solution like FLOW Partner Automation is 100% paperless and helps offset carbon emissions. Though smaller companies may be more hesitant to adopt a large-scale solution, TIE Kinetix offers other EDI and e-invoicing solutions for smaller companies.
Climate Benefits of a Digitalization Solution
FLOW Partner Automation, our 100% digitalization document exchange solution, offers a sustainable solution for improving business process efficiency and therefore enables our customers to meet ESG compliance and reporting requirements.
Did you know that one pallet of printing paper equals 24 trees? Or that one tree equals 8,333 sheets of paper? One pallet of paper produced is equal to 942 kg CO2 greenhouse gas emissions. An obvious way to contribute to sustainable business processes is to eliminate the use of paper, ink, and toner – which is exactly what a digitalization solution does.
In a traditional, non-digitized environment, documents may be printed more than once as they travel through organizations and through the supply chain. FLOW helps eliminate needless waste. The core mission of TIE Kinetix is to provide our customers with a 100% digitalization solution, which is a sustainable and environmentally friendly product.
Getting Ahead of the Curve
If you’re a decision maker in your company and you want to start preparing for the future, these are questions that you should probably start asking yourself when evaluating the preparedness of your business. There are certain technologies and practices that you can implement within your business (often very easily, like our products that are integrated directly into your ERP system) to help keep your business more secure and efficient.