Bonn, North Rhine-Westphalia (June 22, 2023) – AllocNow announces its successful collaboration with Covestro, one of the world's leading manufacturers of high-quality polymers. Covestro leverages the AllocNow Product Sustainability Platform (PSP) to automate LCA calculations on a global scale for the company’s approx. 50,000 intermediate and finished products.
AllocNow's Product Sustainability Platform (PSP) changes the game of LCA with its unparalleled scalability, setting it apart from conventional LCA solutions. With its support, Covestro has measured and analyzed the life cycle impacts of its entire portfolio based on primary data in line with the requirements of the PCF-Guideline of Together for Sustainability (TfS). Using the AllocNow web application, results are being rigorously validated and will gradually be made available to Covestro’s customers in 2024.
The collaboration with AllocNow is one of many projects aiming to cut greenhouse gases at Covestro. “AllocNow enables us to manage product environmental impacts more accurately than ever before. We have full transparency on our product portfolio, which is a prerequisite to work towards our ambitious sustainability goals internally and to provide our customers with high-quality primary data helping them to increase accuracy in their upstream scope 3.” says Dr. Catherine Lövenich, project manager at Group Innovation.
The initiative was managed by a cross-functional team of Group Innovation, Sustainability and Digitalization experts. AllocNow integrates with state-of-the-art cloud infrastructure and data platform of Covestro. “With this project we demonstrate how digitalization can truly drive sustainability”, explains Michaela Lentz, IT & Digital Transformation Partner for Sustainability at Covestro.
AllocNow's software platform, combined with commitment to sustainability of Covestro, demonstrates the power of technology and collaboration in driving positive environmental changes in the industry. "We are excited about the cooperation with Covestro, which is characterized by great mutual trust and is an indispensable source for our product innovation pipeline”, says Daniel Bochnitschek, Co-founder and CEO at AllocNow. "We look forward to continuing this relationship long-term and to supporting ongoing circularity and sustainability initiatives of Covestro." Read more:
Press release by Covestro Covestro established app for product carbon footprint calculation, Digitalization Driving Sustainability Forward
AllocNow is a leading provider of software to automate lifecycle assessments in the chemical and process industry. Its unique Product Sustainability Platform (PSP) creates unprecedented transparency on product-level environmental footprints across a company’s global portfolio. This supports customers in transforming their industry towards net zero and circularity. AllocNow strives to unleash the full potential of chemical companies to contribute to save the planet.
Covestro is one of the world's leading manufacturers of high-quality plastics and their components. With its innovative products and processes, the company contributes to greater sustainability and quality of life in many areas. Covestro supplies customers around the globe in key industries such as mobility, construction and housing, and electrical and electronics. In addition, Covestro’s polymers are used in areas such as sports and leisure, cosmetics, healthcare and in the chemical industry itself.
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