WAVES: Tackling Environmental Regulations Head-On

Dennis Marx, head of marketing and communication (Photo © WAVES)

Aware that sustainability is here to stay, the Luxembourg startup WAVES has added new features and services to its solution designed to help companies on the pathway to carbon neutrality and comply with the EU regulations of tomorrow.

After launching its Sustainability Management Platform (SMP) in 2021, WAVES has taken great strides to futureproof its cloud-based solution against the coming tide of sustainability requirements and EU regulations. Among them are the EU Taxonomy and the Corporate Sustainability Reporting Directive both of which will require businesses to report their sustainability data.

WAVES started out with the first two modules in 2021, which focus on measuring a company’s transport-related carbon emissions, Now, the startup is about to release a new module on its platform called Sustainable Companies, which calculates the company’s carbon footprint and supports businesses in their CSR reporting endeavours.

“We want to make Sustainable Companies available for CSR reporting including the particularly complex Scope 3 emissions. Thanks to automation and a user guide, the tool will immensely simplify carbon accounting so that even non-sustainability experts in smaller companies will be able to handle it,” says Dennis Marx, head of marketing and communication.

Still in its testing phase, the Sustainable Companies module is expected to be released before the end of July and will be suitable for any sector and company size. While its primary audiences are companies currently already required by law or EU directives to prepare sustainability reporting, smaller businesses will have to follow these directives in 2023 and 2024.

“We want to enable companies to track, measure and control their sustainability KPIs continuously over the course of a year and on a regular basis and not only by the end of the year. Only when the timeframe of tracking and managing these KPIs gets shorter will you have a real influence on the impact that your company has on the environment,” explains Dennis.

“We want to enable companies to track, measure and control their sustainability KPIs.”

Dennis Marx, head of marketing and communication

Consulting Services

In addition to their new module, WAVES now also offers internal and external sustainability consulting services to businesses. These are tailored to a variety of audiences and goals, from companies curious to do more, to large corporations required to do climate reporting to managers and CEOs trying to make their company more sustainable.

“We also offer training and coaching for managers that will help them look at sustainability aspects within their company, improve their communication and position themselves better towards stakeholders and prospective employees. Because we have seen that more and more jobseekers are looking to work for companies with a sustainable philosophy,” adds Dennis.

Expected to become TÜV certified within the month, the sustainability startup, which was recently selected as one of the winners of the World Summit Award in its category, appears well on its way to consolidating its position in the emerging local cleantech sector.

“This was a huge and important deal for us as we were selected among 8,000 applicants. And not only for us but also for Luxembourg, which we were proud to represent with the award,” concludes Dennis.

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