Technology Corporate Transactions Various Locations 2024

Corporate Transactions

Professional Legal Services

Industry: Technology
Location: Various Locations
Year: Not specified 2024

Full Credential Description

A multinational plastics, chemical, and refining company faced significant challenges in achieving sustainability and circularity within its manufacturing processes. The company recognized the need to transition from a linear business model, which typically involves a take-make-waste approach, to a circular economy model that emphasizes the continuous use of raw materials and products. However, they encountered difficulties in accurately measuring and validating their circular content, which is essential for obtaining the International Sustainability and Carbon Certification (ISCC). This certification requires precise tracking of circular content from raw materials to finished products, a process that was previously manual and prone to errors. To address these challenges, EY provided a tailored solution that involved the development of a digital ledger using Microsoft Power Platform and Logic Apps. This innovative system automated the sustainability certification process, enabling the company to calculate and attribute circular content to its products in a traceable and auditable manner. The EY team conducted a design workshop to identify the product requirements and created a customized solution that integrated seamlessly with the client's existing enterprise resource planning (ERP) system. This approach not only streamlined the certification process but also enhanced the accuracy of environmental impact calculations. The results of this initiative were significant. The new automated certification validation system was delivered in just six months, which was two times faster than other solutions. It is expected to save approximately 5,000 hours of manual effort annually, allowing the company to focus more on strategic initiatives rather than administrative tasks. Furthermore, the system supports the client’s ambitious goal of selling millions of metric tons of circular-certified plastic products by 2030, thereby contributing to a substantial percentage of their sales. The implementation of this digital ledger not only facilitated compliance with sustainability standards but also positioned the company as a leader in the circular economy, ultimately helping to reduce its carbon footprint and reliance on fossil fuels.

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