In recent months we have seen a global effort to harmonise carbon reduction efforts. This has been evidenced by the publication and international acceptance of the IFRS S1 and S2 standards, and the carbon reduction agreements made at COP 28. Coupled with this is a general increase in pressure for investment-grade reporting on environmental metrics. As a result, organisations operating in today’s environment are being required to reassess their carbon emission calculation processes. As consumer, investor and regulatory scrutiny around carbon footprints increases, companies must embrace this change and look for ways in which they can turn their carbon strategy into a competitive advantage. Since Scope 3 emissions usually make up the largest proportion of a company’s carbon footprint and are the most complex to calculate accurately, Scope 3 should be an area of particular focus in a business’ carbon strategy.
This whitepaper is for organisations who are looking to get started on Scope 3 emission calculation and reporting. It provides definitions and explanations of the 15 sub-categories within Scope 3 and begins to unpick the question of where to start. Depending on the industry your company is in, the materiality of the 15 categories will vary. This whitepaper provides a step-by-step guide to calculating that materiality, and helpful considerations to make when laying the foundations of your Scope 3 calculation process. We work with organisations across all industries and sizes to ensure they have the right reporting process in place for them. Read on to learn more about the relevant process for your business.