Scope 3 emissions best practices: Be transparent, thorough
A large percentage of the greenhouse gases (GHG) associated with business activities are indirect, or Scope 3, emissions. There is much companies can do—and must do, given upcoming regulatory requirements—to rein them in, a sustainability expert explained at Compliance Week’s virtual ESG Summit.
“You have a lot of influence over your supply chain” and the GHGs that lead to global warming, Susan McNichols, a senior consultant at engineering and design firm WSP, said during a session Tuesday detailing best practices for Scope 3 emissions.
The world is headed for a catastrophic increase in temperature by 2040 unless GHGs, which include carbon dioxide, methane, and other gases, are drastically reduced, according to the Intergovernmental Panel on Climate Change. Many businesses are cutting their emissions voluntarily, while others have faced public pressure. Soon, the reporting of emissions data will be mandatory in certain regions.