Can Scope 3 Emissions Assessment Help You Reduce GHGs, Save Money, and Mitigate Risk?

This article is an overview of Scope 3 emissions measurement and management -- to learn more, join SCS’ webinar on May 11 at 10 am PDT, Measuring and Managing Scope 3 Emissions.

On April 22, 175 countries signed the Paris Agreement, signifying the world is demanding aggressive action on climate change mitigation. Companies are facing pressure from customers, governments, investors, and other stakeholders to find climate change solutions.

Your company can anticipate and respond to these pressures by measuring and managing Scope 3 greenhouse gas (GHG) emissions. While Scope 1 and 2 emissions are the most commonly measured, Scope 3 emissions are much more comprehensive, including everything from employee business travel to product purchases.  They are most likely a very large part of your company’s footprint; therefore, by measuring Scope 3 emissions you can find the best ways to reduce GHG emissions.

Scope 3 measurement and management can also help you save costs and mitigate risk. It will uncover valuable insights about your company’s supply chain, including where major suppliers are located and what production technologies they are using. This can save costs through identifying things like inefficiencies in sourcing strategies, and mitigate risks by anticipating which suppliers might be affected by upcoming climate change-related regulations expected under the Paris Agreement. Without a detailed Scope 3 analysis, there could be many missed opportunities for GHG emission reduction, cost savings, and risk mitigation that never would be revealed otherwise.

When measuring Scope 3 emissions, it's vital to get the data right. If shortcuts are taken or errors are made, you could miss key pieces of information about your supply chain, which can lead to poor decision-making and increase climate change related risks. It’s critical to be careful in selecting the tool and data you use to assess Scope 3, in order to avoid faulty data.

SCS Global Services (SCS) has completed Scope 3 assessments of supply chains for companies in many industries, using techniques honed over 20 years of experience in quantitative supply chain analysis and Life Cycle Assessment tools. SCS can also support you to define a company climate action plan, assist in CDP reporting, recommend ways to optimize your CDP score, complete Life Cycle Assessments for your products, and assess your Scope 1 and 2 carbon footprint. We can also help to verify your company carbon footprint at any scope.

Don’t forget to register for our webinar May 11 at 10 am PDT, Measuring and Managing Scope 3 Emissions.

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