Inriver, a global software company specializing in product information management (PIM), is leveraging its platform to contribute to the discourse on sustainable practices at the 2024 World Economic Forum (WEF).
Focused on the theme of climate, nature, and energy, Inriver addresses the crucial role of detailed product information in fostering a circular economy.
Inriver’s PIM solution plays a pivotal role in supporting long-term strategies for a sustainable planet. Recognizing the significance of detailed product data tracking, especially for eco-friendly products, the company aligns its mission with the broader objectives of the circular economy. The emphasis on “building trust” at the 2024 WEF aligns seamlessly with Inriver’s commitment to transparency and environmental responsibility.
Niels Stenfeldt, CEO and Board Member of Inriver, says, “Product information is the essential ingredient to power a more sustainable planet. By understanding and cataloguing information about the carbon footprint and environmental impact of a product, inriver PIM can revolutionize the way companies and consumers interact, while working towards a carbon-neutral world.”
Navigating Regulatory Landscape
In the face of evolving regulatory frameworks, such as the EU’s forthcoming Digital Product Passport (DPP) regulations, effective data tracking becomes paramount. Inriver stands out with its elastic data model, designed to handle dynamic requirements and efficiently process substantial data volumes. As companies prepare for compliance with DPP and other regulations, Inriver’s solution consolidates a comprehensive array of product data points—from basic specifications to advanced information like CO2 footprint, water consumption, and recycled content.
The 2024 WEF Global Risks report underscores the urgency of climate-related action, stating, “In a 10-year context, climate-related risks contribute 5 of the top 10 threats as the world nears or crosses ‘climate tipping points’.” In response, Inriver urges brands to act promptly, not only to mitigate risks but to build trust and fortify long-term relationships with customers.
As technology becomes a catalyst for sustainable decision-making, early adopters of tools like PIM gain a competitive edge. Inriver’s PIM platform enables brands to make data-backed decisions, contributing not only to business success but also to the broader goals of a carbon-neutral and nature-positive world.