The news appears to be dire for the year 2030, when greenhouse gas emissions will be 10% higher than they were in 2010, according to the United Nations. What’s more concerning, however, is that greenhouse gas emissions, also known as indirect emissions, account for at least 70% of every business’s carbon footprint. However, most businesses focus on controlling or eliminating their direct emissions instead.
Indirect emissions, or Scope 3 emissions, are those that result from activities that occur outside of the direct control of an organization, typically along the value chain, either up- or downstream. These emissions are often associated with the purchase of goods and services, employee commuting, business travel, and waste disposal. By understanding their Scope 3 emissions, organizations can identify areas where they can reduce their environmental impact and become more sustainable.
Why — and How — to Measure and Reduce Your Company’s Scope 3 Emissions
#Greenhousegases are a major contributor to #climatechange and #globalwarming. To reduce the amount of greenhouse gases in the atmosphere, companies are being called to #reduce their carbon footprint, which comprises three scopes of emissions for greenhouse gases. #Scope1 emissions are those that come from sources owned or controlled by an organization, such as burning fuel for energy. #Scope2 emissions are #indirect emissions from electricity purchased by an organization. Finally, Scope 3 emissions are all other indirect emissions from activities related to an organization’s operations, such as employee travel and waste disposal, and even use of #officesupplies like #printertonercartridges. By understanding and reducing these three scopes of emission, organizations can help reduce their overall carbon footprint and help mitigate climate change.
As we have already mentioned, controlling Scope 3 emissions can bring big advantages to your business in many ways, including bottom line health. In fact, one nonprofit organization found that companies that disclose how they address climate change have an 18% greater return on investment (ROI) over companies that do not and a 67% ROI advantage over companies that do not disclose any information regarding emissions.
A better environmental impact rating garnered through control of Scope 3 emissions also translates into greater interest from consumers as well as the avoidance of penalties that can go along with refusal to reach emission reduction standards. Importantly, getting a grip on Scope 3 emissions can help position your business as a thought leader in your industry. Not only can this help you attract high level talent, but it also puts you ahead of your competition.
Controlling your company’s Scope 3 emissions, in particular, has many benefits, including contributing to a strong environmental, social, and governance (ESG) strategy. This focus, in turn, can help foster better customer trust and loyalty and help your business differentiate itself from the competition. Additionally, it helps you avoid the fines and hazards that can sometimes accompany uncontrolled Scope 3 emissions, depending on the rules and regulations where your business is located.
By their very nature, #Scope3 emissions can be hard to calculate since they occur all along the value chain. In order to measure and report the results of any efforts to reduce them, your company must first gather information in collaboration with #supplychainpartners.
To do this, companies should collect primary data from suppliers, such as specific emissions data for each product they provide. Information should be collected from the entire product lifecycle, even if it must be measured at each step. Resist the temptation to use industry averages and instead rely on the hard-and-fast data that you can gather from suppliers and customers.
The US Environmental Protection Agency (EPA) has additional guidance on establishing Scope 3 emissions, including an evaluator tool that allows you to make rough estimates for each category of Scope 3 emissions. Over time, the EPA suggests that businesses seek out the most accurate data sources and use specific calculation methods that remain consistent year over year for comparison purposes.
Get Control of Scope 3 Emissions with the Help of Sustainable Partners
In today's world, #sustainability is becoming increasingly important for businesses that want to stay competitive in a volatile marketplace. Companies are always looking for better ways to reduce their carbon footprint and become more environmentally conscious. One of the most effective ways to do this is by working with #sustainablesupplypartners.
By partnering with suppliers who have adopted sustainable practices, companies can help reduce their Scope 3 emissions and contribute to a greener future. Creating a #sustainablesupplychain can also help companies save money by reducing costs associated with energy, transportation, waste management and more. With the right partner in place, businesses can make a real difference in their carbon footprint and help create a cleaner environment for everyone.
At Quality Imaging Solutions LLC, we add more than just #diversity to your supplier pool. We are committed to #sustainablepractices that benefit you — and our planet. Ready to partner with us? Simply contact us today and let’s get started!