Estimate and Track Project Carbon and Cost
Estimating and tracking the carbon and greenhouse gas (GHG) emissions of your construction and capital projects is now as easy as estimating and tracking project cost data. ARES PRISM allows project organizations to automate and simplify the estimation, management, and reporting of their GHG and energy usage data.
Project Carbon Tracking: Why Cost and Carbon Management Software?
ARES PRISM is leading the way in project cost and carbon estimation and tracking. Projects’ and programs’ carbon emissions can be estimated and measured—and thereby improved and delivered upon—with ARES PRISM Cost & Carbon in-a-box. Building and infrastructure projects account for 38% of total global emissions; we understand how important it is to make decarbonization efforts for capital and infrastructure projects delivery.
Within ARES PRISM Cost & Carbon in-a-box, carbon assessments are produced back-to-back with costs, ensuring they wholly reflect the exact same scope as costs. Both carbon and cost assessments are now produced via a highly integrated and automated process, rather than two separate siloes.
Carbon Emissions Disclosure Mandates and Regulations
According to the Grantham Research Institute on Climate Change and the Environment, since 1997 there has been over a 20-fold increase in the number of global climate change laws, and nearly 2,000 climate change-related lawsuits have been launched globally—most of which have occurred since 2015.
Government regulations and mandates across the globe are getting more and more specific to sustainability initiatives. Carbon has long been a mandated metric in many countries, and other sustainability and climate risk factors are now coming under the microscope, for instance:
- The UK’s Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013;
- The Spring 2022 proposed U.S. Securities and Exchange Commission (SEC) climate rule in which publicly traded companies would have to report on climate-related risks in their risk management plans and reports;
- The European Union Emissions Trading System (EU ETS);
- And the countries that have committed by law to reaching net zero or carbon neutrality by 2045 (Sweden) or 2050 (France, UK, New Zealand, Denmark, and Hungary).
We know that EPCs and project organizations cannot improve upon what is not being tracked and measured, so we worked closely with government agency standards, regulations, and best practices to help. Companies are already tracking and managing project costs, there is no reason for projects to not be estimating and tracking GHGs and carbon emissions on the same platform.
With ARES PRISM, project organizations are enabled to mitigate carbon impacts and the budgetary costs associated with carbon avoidance. By providing a single place where users can trade off cost and carbon, project managers can maximize the likelihood of both project management & project sustainability succeeding.
6 Business Benefits of Tracking Project
Carbon & Sustainability Metrics
Improves competitive advantage
Increases productivity and reduces project costs
Increases regulation or mandate compliance
Attracts employees and investors
Whole life carbon and cost estimating and management is becoming a fundamental driver for improving the environmental effects of capital and construction projects. ARES PRISM can be used to meet mandatory reporting as required by:
- Annual Greenhouse Gas Reporting
- Energy Savings Opportunity Scheme (ESOS)
- Climate Change Agreements (CCA)
- Streamlined Energy & Carbon Reporting (SECR)
- EU Sustainability Reporting
ARES PRISM makes estimates transparent and simple to maintain from the first concept of a project all the way through to the project’s life cost and carbon operating values. To enable organizations to deliver the best value, ARES PRISM Cost & Carbon in-a-box is aligned with PAS2080 which offers a framework for calculating carbon in all aspects of the asset lifecycle. ARES PRISM features built-in carbon rates that align with BCIS and CESMM4. This dataset is fully tailorable to accommodate whole lifecycle carbon within the solution.
Hold Third-Party Vendors & Contractors Accountable for Carbon, Too!
As projects progress, delivery partners and third-party vendors are able to record actuals and input values against the cost and carbon estimate structures using contract management in ARES PRISM, and estimates are loaded to set target contract values. ARES PRISM Cost & Carbon in-a-box offers transparency with a full history of the evolution of a cost and carbon estimate, allowing for simpler governance from early forecasts to target-setting and carbon accountability for delivery partners (materials, labor, transportation, resources, etc).
Carbon Reporting Dashboards
Measuring and monitoring your project’s carbon emissions in real-time is easy with our carbon reporting dashboards. With ARES PRISM, you can estimate project carbon, track and monitor project emissions, and visualize and understand where your project and emissions originate from. Create actionable plans to reduce carbon further and report to stakeholders in a meaningful way.