Preparing for Scope 3 Emissions?
22 March 2023
As the reporting of Scope 3 Emissions will soon be a mandatory requirement for organisations, the time for preparation is now. Scope 3 makes up the vast majority of an organisations carbon footprint, however it is also the most complex area to track and calculate due to the indirect nature of its remit. To understand better what is covered under Scope 3, see our article ‘What is Scope 3 Emissions’
There is no ‘one size fits all’ approach to Scope 3, which can make knowing where to start daunting. There are several things to consider prior to beginning your reporting journey.
Things to consider:
Reliability of data – much of the information you will need to source will lie outside of your control.
Data collection – if you have already been reporting on scopes 1 & 2, the inclusion of scope 3 will require a much wider scope of data collection.
Overlaps – there can be a fine line between scopes 1, 2, and 3. You will need to determine in which area your data needs to sit.
Supplier relations – Value chains can often be complex and good relationships with suppliers, as well as quality contact information will make the process of data collection easier.
ESG Reporting Software
Utilise Available Resources
Have a look at sector case studies and best practice to help you determine your initial focus. This can be a solid starting point as it can provide you with some likely focus areas that you might need to address.