What are Environmental Product Declarations (EPDs) and how are they changing B2B sales conversations? Jonas Bengtsson, CEO and co-founder of Edge Environment, provides his opinions. First published on Sustainability Matters.
A market study conducted by Accenture and the UN revealed that 85% of consumers expect companies to improve their quality of life, which goes in hand with addressing environmental and societal impact of their business. In fact, they put as much pressure on business as on government.
Blame it on generational turnover, regulatory pressure, The Great Sinister Hippy Lobby or common sense — it doesn’ t matter — the market is growing eco-savvier and the trend isn’t slowing down. A business unwilling to pick up its slack, or hoping to hide within complex supply chains, is more and more likely to face scrutiny or be selected out.
Ask VW, BP, BHP and Bhopal how the environment factors into their share value and business success. Ask the merchants for palm oil, rainforest timber furniture and tiger prawns if they have to spend much of their time on the defensive before they get even close to pitching their product.
You have two options:
- Hope that a competitive price and track record will keep you sweet.
- Adapt and excel in the new information- and transparency-hungry world.
Get your credentials right
As a supplier (we all supply someone), you don’t want to carry around a thousand-piece jigsaw puzzle of documents and reports to demonstrate your credentials in the technical, environment and social spheres. You’ll want a one-stop-shop, straight-to-the-point, comprehensive, credible and transparent document.
As a customer, wouldn’t it be great if you could have complete transparency and trust in the products and services you buy? And wouldn’t it be great if you could find that information in one place? Not someone telling you the product is good “because I told you so”, but lay the information out for you to make up your own mind.
Enter the one-stop shop for product information — Environmental Product Declarations, or EPDs.
An Environmental Product Declaration, or EPD, is a standardised and verified way of quantifying the environmental impacts of a product based on a consistent set of rules known as PCRs (Product Category Rules). Industry experts can develop EPD reporting rules for any product or service and the ISO 14025 standard sets the reporting scope. Every EPD is independently verified to ensure the information data is correct and balanced.
Green buildings and infrastructure rating tools and government design and procurement guidelines are singling out EPDs as the go-to credentials and building block for optimised designs and solutions.