Europe's Manufacturing Sector's Emission Reduction Momentum Weakens in First Half of 2024

In the first half of 2024, despite Europe's progress in promoting energy transition and clean energy technologies, carbon emissions from the manufacturing sector remained high, and the impetus to reduce emissions was thwarted by a sharp drop in carbon prices due to the economic slowdown and other factors.

On the other hand, a number of large European companies in the response to climate change emissions reduction efforts are insufficient, failing to meet the goals set by the Paris Agreement.

To meet the challenge, the European manufacturing industry needs to take active action to improve energy efficiency, promote energy-saving technologies and equipment, and increase the proportion of renewable energy.

At the same time, improve the carbon emissions trading mechanism, strengthen international cooperation, and jointly promote the research and development and application of clean energy technologies to reduce carbon emissions.

At present, the demand of European enterprises for carbon emission management software presents the following characteristics:

First, the demand is urgent, enterprises need to use the software to realize accurate emission reduction and compliance management;

Second, the function is comprehensive, the software needs to cover the whole chain of data monitoring, analysis, reporting and strategy development;

Thirdly, the level of intelligence is high, using AI, big data and other technologies to improve the efficiency and accuracy of emission reduction;

Fourth, the demand for customized services increases, and different industries and enterprises need to customize exclusive solutions based on their own characteristics.

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   Austrian startup realizes carbon emission management service based on enterprise auxiliary data
In July 2024, Austrian startup Tset raised €12.7 million to focus on carbon management to reduce manufacturing costs. The funding round will be used to expand the sales market presence and gradually expand into mechanical engineering, household appliances and industrial construction.

Founded in 2018 by Andreas Tsetinis and Sasan Hashemi, Tset focuses on providing cloud-based SaaS solutions for calculating product costs and emissions across the enterprise.

Tset's software products provide analysis on the impact of design changes on engineering costs, as well as real-time detection of engineering carbon footprints, helping companies to achieve optimization and upgrading of key processes such as development and production, in order to improve the overall transparency of the company's carbon emissions, and in turn, its profitability.

Tset claims that its software products can provide complete and accurate analysis results by analyzing auxiliary data, minimizing the need for core corporate data and fully safeguarding corporate data security. Tset's products are currently used in a wide range of industries, including automotive and aerospace.

Founders Hashemi and Tsetinis said: “Tset is best prepared for the growth in demand and expansion of the market due to the increasing regulation of carbon emissions and competition in the automotive industry. After our success in Europe, we will gradually enter the North American and Asian markets.”

Tset's customer base currently includes Ecko, Brose, Lego, ThyssenKrupp, ZF and the BMW Group.

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