APX Launches ESGclear
Trusted industry platform drives transparency and certainty for contracts and transactions that are material for ESG reporting, financing, and mitigation across supply chains
NEW YORK, SAN JOSE, November 9, 2021 – APX, the preeminent environmental commodities infrastructure provider, today announced the launch of ESGclear. ESGclear is an innovative data clearing platform that enables buyers, sellers, and other transacting parties to easily capture, track, settle, and bill against the environmental, social, and governance (“ESG”) footprint tied to their supply chain transactions or financing activities. ESGclear creates a transparent and reliable way for companies to measure, manage, and report the full scope of their supply chain emissions and other ESG impacts.
The launch of ESGclear comes at a time when decisive action is needed by governments and corporations to cut global emissions and enact socially responsible business practices. Increasingly, government regulators around the world are requiring ESG disclosures as part of financial reporting and companies are answering the call to implement transparent and reliable ESG reporting. Having a platform that empowers organizations to accurately capture, track, and verify supply chain ESG claims, including Scope 3 emissions, is critical to creating trust and accountability throughout supply chains and with consumers of end-use products and services.
“We envision a future where commerce and value will be inextricable from ESG factors, such as the inclusion of a product’s ESG footprint on its packaging. In the past week alone, discussion has grown around several initiatives, including the USDA’s Climate-Smart Agriculture and Forestry Partnership Program. ESGclear can support this evolution by making ESG data traceable and verifiable across the supply chain, providing a high level of assurance for a single input or a final good’s overall ESG impact,” stated Joe Varnas, CEO of APX. “Countries and jurisdictions can implement cap-and-trade programs, but we believe individual companies will increasingly be drawn to this type of ‘cap-in-trade’ construct, where the goods and services and their ESG data are delivered as a holistic product.”
“As the global leader in generating tradable certificates for ESG attributes, APX is well-positioned to tackle today’s ESG reporting challenges by supporting ESG attribute sharing across B2B transactions,” added Brian Fellon, Chief Commercial Officer at APX. “Today, the ESG attributes associated with transactions are decentralized, obscure, and ‘uncleared’. We foresee ESGclear supporting a vast array of transaction types, specifically within Scope 3 supply chain transactions and financing activities, such as agricultural commodities, sustainability linked loans, and green deposits. This plays off our core strengths of providing critical transaction technology infrastructure to the environmental and financial markets.”
APX is the leading provider of innovative technology and dynamic end-to-end service solutions for environmental commodity and power markets. The company’s 25-year history and expertise spans carbon and renewable energy credit markets, sustainable commodity markets, power generation asset management, physical power markets, and demand response program administration. In this capacity, APX serves a diverse set of clients globally, including standards bodies, regulators, government entities, and NGOs. Headquartered in San Jose, California, APX is dedicated to providing leading-edge market solutions on a foundation of trust, integrity, and experience.
To learn more about ESGclear, email us at firstname.lastname@example.org.