Executive Summary Multiple initiatives aiming to accelerate climate action have one core challenge. Carbon accounting, digital product passports, and ESG reporting — all struggle with access to granular and up-to-date primary data, such as consistent climate-relevant data on product and material level within and across value chains. Current solutions rely on insufficient third-party data focusing on averages, cumulated values, and estimates.
What is required are interoperable and secure cross-industry standards for data exchange: the Data Commons. To help institutions define and integrate Data Commons into their digital and sustainability strategies, we are publishing two white papers:
1. The Data Commons for Sustainability white paper introduces the concept of Data Commons, its fundamental Values, Building blocks and benefits. 2. The Designing Digital Product Passports white paper applies the concept of Data Commons to Digital Product Passports. With the example of digital product passports, we define a set of crucial questions that need to be answered to set up successful Data Commons.
"Establishing the operating system for a circular economy requires sharing of climate-relevant data within and across value chains. The Building Blocks of Data Commons provide a powerful lens to facilitate this data exchange – and thereby allow to build new types of partnerships among organizations to accelerate climate action."
Lavinia Bauerochse
Global Head of ESG Corporate Bank Deutsche Bank
"Supporting our clients on their clear pathways towards net zero is core to our sustainability strategy, which is why we actively engage in transition dialogues with our clients. While the lack of standardized and consistent ESG data presents a challenge, accurate data will be key for corporate decision-making and imperative for the risk management of financial institutions."
Christoph Bornschein
Co-Founder TLGG Consulting
"To accelerate the fight against climate change, we need to harness existing technological potential and enable a common use of data. By establishing interoperable and secure cross-industry standards for data exchange, the Data Commons will foster a much-needed technology-based approach to climate action."
Tell Münzing
Co-Founding Member SINE Foundation
"Our use cases show that Data Commons allows leadership in business, finance, and policy to act in concert to reduce emissions and create new business models. Contributing to consciously designed governance mechanisms, code and algorithms will accelerate the transition towards a regenerative market economy."
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