For example, HP's supply chain analysis service includes a lifecycle analysis capability based on a sustainability assessment tool developed by HP Labs. This tool helps evaluate multiple aspects of a product or building, including energy, water, waste and greenhouse gas emissions. The evaluation is based on factors such as materials, operational requirements, environmental impact, safety, costs and carbon intensity.
HP is also using tools from partners like specialist software vendor Hara to provide environmental and energy software management.
Hara is a hot company and could be acquired over time, especially after carbon reporting becomes a common practice worldwide, Kanellos said.
The more energy a company uses, the larger the carbon footprint is, Kanellos said. Not every company is required to report their carbon footprint in the U.S., but it is the right thing to do, Kanellos said.
"It's good practice for when we have carbon regulations," Kanellos said.
Reporting a company's carbon footprint is also a good idea as there are business risks associated with not being environmentally friendly, HP's Hamilton said.
To spread awareness about energy efficiency and carbon footprint, an HP service called the Energy and Sustainability Discovery Workshop has established a forum where decision makers in a company gather to gain a common understanding of goals on energy and sustainability.
HP competitors SAP and Cisco also offer tools and services to help companies monitor and reduce carbon emissions. SAP in 2009 acquired Clear Standards to offer carbon measurement. Cisco offers the EnergyWise portfolio of products to track and monitor energy usage and requirements.