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The integration will help advisers and businesses prepare carbon accounting reports to an “audit-ready standard”.
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Xero spotlights carbon accounting in new partnership with Sumday
21 February 2024
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Xero has today announced a global partnership with carbon accounting software platform Sumday.
By integrating Sumday’s carbon accounting software into Xero’s existing financial reporting platform, users will have access to “timely and accurate" carbon emissions data.
Dr Tamara Somers, director of sustainability and ESG at Xero said carbon accounting is becoming a “non-negotiable” as global regulators are increasingly looking to introduce mandatory carbon accounting standards.
Chief executive and co-founder of Sumday, Jessica Richmond, said advisers too will be educated on how best to offer carbon accounting services to their clients.
“This creates additional revenue opportunities for advisers while helping make audit-ready carbon accounting accessible and affordable for their clients,” said Ms Richmond.
The partnership will allow users to complement their existing financial accounting and reporting processes with their carbon accounting data.
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“Carbon accounting to an audit-ready standard must be accessible and affordable to all businesses … it’s the only way we can credible track progress towards net-zero,” said Ms Richmond.
Dr Somers added, "By partnering with Sumday to enhance Xero’s own carbon emissions reporting, we hope to inspire advisors and small businesses to join the transition to a net-zero economy by taking the leap and accurately measuring their emissions using the powerful tools connected to the Xero platform.”
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