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How do you leverage LCA and life cycle costing to drive innovation and differentiation in your market?

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Life cycle assessment (LCA) and life cycle costing (LCC) are powerful tools for evaluating the environmental and economic impacts of your products and services throughout their life cycle, from raw material extraction to end-of-life disposal or recycling. By applying LCA and LCC, you can identify opportunities for innovation and differentiation in your market, as well as improve your value proposition and competitive advantage. In this article, you will learn how to leverage LCA and LCC to drive innovation and differentiation in your market.

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Tahmina Day, MBA, CERP

Sustainability Leader | Risk Strategist | Head of ESG
Eleni Polychroniadou

CEO of Sintali │ Catalysing a greener built environment globally
Nadia (Anastasia) Liapi Ph.D.

Brand messaging in sustainability | Translating science into brand storytelling | Content strategy & digital marketing

1 What is LCA and LCC?

LCA is a systematic method for quantifying the environmental impacts of a product or service, such as greenhouse gas emissions, water consumption, resource depletion, and toxicity. LCC is a complementary method for estimating the total costs of a product or service, including acquisition, operation, maintenance, and disposal costs. Together, LCA and LCC provide a holistic view of the environmental and economic performance of a product or service over its life cycle.

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Tahmina Day, MBA, CERP

Sustainability Leader | Risk Strategist | Head of ESG
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LCA and LCC work hand in hand and complement each other. LCA assesses the environmental impact, allowing decision-makers to identify areas for improvement in terms of sustainability and eco-efficiency. LCC, on the other hand, provides a financial perspective, helping stakeholders understand the economic implications of different choices and prioritize investments that are both environmentally sustainable and cost-effective.

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2 Why use LCA and LCC?

Life cycle assessment (LCA) and life cycle costing (LCC) can help you to identify hotspots and trade-offs in your product or service life cycle, as well as compare alternative designs, materials, processes, or scenarios. This can enable you to select the most sustainable and cost-effective options. Additionally, LCA and LCC can be used to communicate the environmental and economic benefits of your product or service to customers, stakeholders, and regulators. Furthermore, they can support your sustainability strategy, reporting, and certification. Finally, they can enhance your innovation potential, differentiation, and value creation.

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Eleni Polychroniadou

CEO of Sintali │ Catalysing a greener built environment globally
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Legislation is changing and pushing companies towards consumer labelling, especially in the EU. Integrating LCA and LCC methodology into your research and development team is future-proofing the company

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3 How to conduct LCA and LCC?

LCA and LCC involve a four-step process: defining the goal and scope of the assessment, collecting and analyzing inventory data, calculating and interpreting impact assessment results, and reporting and communicating the findings. This includes considering the functional unit, system boundaries, data sources, impact categories, indicators, and methods. Additionally, it is important to use transparent and consistent formats when reporting and communicating the findings and recommendations.

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Eleni Polychroniadou

CEO of Sintali │ Catalysing a greener built environment globally
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You will need to invest in software to support these calculations. There are several on the marketplace. The key is focusing on the databases behind the softwares. While the softwares aren’t hugely different from one another, the quality and transparency of the databases is. The GaBi database is based on industry data, making it more accurate. Ecoinvent is based on academic data, making it more transparent but less accurate for industry application. Identify your needs as a business and pick accordingly

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4 How to leverage LCA and LCC for innovation and differentiation?

LCA and LCC can help you to leverage your sustainability performance for innovation and differentiation in your market. With these tools, you can develop new products or services that meet customer needs while minimizing environmental and economic impacts. You can also create value propositions that highlight the environmental and economic benefits of your products or services, making them stand out from competitors. Additionally, you can explore new markets, segments, or niches that value sustainability and are willing to pay a premium for it. Furthermore, you can collaborate with suppliers, partners, or customers to optimize the life cycle performance of your products or services and create shared value. Finally, you can align your innovation efforts with global sustainability agendas such as the Sustainable Development Goals or the circular economy principles.

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Nadia (Anastasia) Liapi Ph.D.

Brand messaging in sustainability | Translating science into brand storytelling | Content strategy & digital marketing
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We see a prime example of LCA use to drive both innovation and product differentiation in the plant-based food market. Its products have a significantly lower environmental impact than animal-based ones. So it is of no surprise that manufacturers like Veganz and Oatly have embraced LCA-based eco-labels as a Green credential. Oatly shows the carbon footprint on its milk cartons (accompanied by a campaign challenging the dairy industry to "show their numbers"). Veganz has a more sophisticated label, the Eaternity Score, that shows carbon emissions, water footprint, animal welfare, and rainforest impact on a 3-star system. In addition, the company uses the LCAs to reveal sustainability optimisation opportunities in their supply chain.

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Eleni Polychroniadou

CEO of Sintali │ Catalysing a greener built environment globally
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The best thing you can do is use LCA early in the product design stage. Many companies create products and then do an LCA in retrospect to figure out what the impact of the product was. Use the LCA as part of your internal decision-making and make sure the product is designed to be as sustainable as possible upfront. Test ideas, look at different scenarios and include LCA data in prototype developments.

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5 What are the challenges and best practices of LCA and LCC?

LCA and LCC are not without challenges, such as data availability and quality, methodological uncertainties, and stakeholder engagement. To ensure the credibility and relevance of your results, you should define clear and realistic objectives and scope that are aligned with your business goals and stakeholder needs. Additionally, it is important to use reliable and representative data sources, document your data sources, assumptions, and limitations, apply consistent and robust impact assessment methods, and validate your results with sensitivity and uncertainty analysis. Furthermore, communicate your results and recommendations in a clear and concise manner using visual aids, case studies, or stories. Finally, involve stakeholders throughout the process to solicit their feedback and input. LCA and LCC are valuable tools for evaluating sustainability performance to create value for your business and society.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How do you leverage LCA and life cycle costing to drive innovation and differentiation in your market?

1

2

3

4

5

6

1 What is LCA and LCC?

2 Why use LCA and LCC?

3 How to conduct LCA and LCC?

4 How to leverage LCA and LCC for innovation and differentiation?

5 What are the challenges and best practices of LCA and LCC?

6 Here’s what else to consider

Sustainability

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How do you leverage LCA and life cycle costing to drive innovation and differentiation in your market?

1

2

3

4

5

6

1 What is LCA and LCC?

2 Why use LCA and LCC?

3 How to conduct LCA and LCC?

4 How to leverage LCA and LCC for innovation and differentiation?

5 What are the challenges and best practices of LCA and LCC?

6 Here’s what else to consider

Sustainability

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