Methodology

Planet Price calculates the real cost of everything.

Here’s how we do it.

Planet Price $

Artificial Intelligence

(Environmentally Extended Input Output Life Cycle Impact Analysis)

Environmental Prices

Planet Price AI (EEIO LCIA) EP

That’s a whole lot of acronyms! … But here’s how it works in simple terms. ☺️

The planet Price platform uses

to analyse your entire procurement landscape

to drill-down on specific hotspot material and product hotspots

Top-down Analysis
Data extraction

Data is extracted from your corporate procurement system as a simple CSV file.

data check

The data is automatically checked for errors.

procurement matching

The artificial intelligence model uses Product Categories and Purchasing Descriptions to automatically match procurement spend with industry codes. You can manually change these if you like.

A diagram showing that construction materials + a concrete beam = infrastructure building
environmental and social impacts

Using the industry type, the algorithm calculates the values for nine different environmental and social impacts for the procurement spend amount.

societal cost

The Societal Cost for each of the impacts is applied to calculate the overall Planet Price.

A diagram showing that procurement spend + planet price = total cost
explore data

Now you can explore your data from every angle to identify opportunities and hotspots using our powerful, interactive visualisations.

Greenhouse Gases

Water

Land

Smog

Respiratory Disease

Eutrophication

Acid Rain

Ozone

Ecotoxicity

Scope 3

Data from the analysis can be exported and used to support your Scope 3 reporting according to standards.

Bottom-up Analysis
product planet price

Now that you have identified the Product Categories and Suppliers of most interest, you can calculate the Planet Price for specific products and material mixes.

product calculator

Using a simple web-based calculator, suppliers can enter information about their products.

product-specific data

Suppliers enter data about materials, packaging and recycled content …

Image visually supporting the sentence above that Material + Packaging + Recycled
transport data

… and also information about transportation.

Further environmental information

If it is available, Suppliers can also enter data from a Life Cycle Analysis study or Environmental Product Declaration.

Calculate planet price

Using all of this information. The algorithm calculates the Planet Price for the product or material mix and generates a digital certificate.

product and material library

Develop and share a library of Planet Price data for Products and Materials.

inform procurement decisions

Planet Price in the Platform can be used to inform procurement decisions.

Have more questions?

Find out more on our FAQ page, or contact us with a specific enquiry.