Tag: Scope 3

Net-Zero Asset Owner Alliance calls for regulatory mandates on Scope 3 disclosure

Stuart Mitchell

The UN-convened Net-Zero Asset Owner Alliance (NZAOA) has released a new paper emphasising the critical role of top-down regulatory mandates in overcoming data and disclosure challenges related to Scope 3 emissions. As regulations on these emissions evolve worldwide, with the Corporate Sustainability Reporting Directive (CSRD) in the European Union and emerging regulatory frameworks in Japan and California, the NZAOA’s new paper highlights the growing urgency for standardising disclosure and the need for policymakers to act decisively. The report finds barriers to tackling these emissions—which account for three-quarters of most companies’…

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VCMI announces public consultation on beta Scope 3 Claim

Stuart Mitchell

The Voluntary Carbon Markets Integrity Initiative (VCMI) will run a public consultation on further development of the proposed Scope 3 Claim. Running from 2nd September to 7th October, the consultation will be conducted in accordance with established best practice. Inviting feedback on an updated version of the Scope 3 Claim, the process will help build on and strengthen existing requirements and guardrails to finalize the claim and ensure that it maintains high standards of integrity, while also being practical to potential corporate adopters. The Scope 3 Claim will offer a mechanism…

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Corporates’ supply chain scope 3 emissions are 26 times higher than their operational emissions

Stuart Mitchell

In 2023, corporates reported that their Scope 3 supply chain emissions were, on average, 26 times greater than their emissions from direct operations (Scopes 1 and 2)[2]. According to the new ‘Scope 3 Upstream: Big Challenges, Simple Remedies’ report – published recently by Boston Consulting Group (BCG) and CDP – upstream emissions from the manufacturing, retail and materials sectors had a footprint 1.4 times the total CO2 emitted in the EU in 2022. However, supply chain emissions continue to be overlooked, with corporates twice as likely to measure operational emissions[3]…

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ICMM publishes new guidance on setting reduction targets on Scope 3 emissions

Stuart Mitchell

ICMM has published guidance to support mining and metals companies to set impactful short-, medium- and long-term targets for reducing their Scope 3 emissions. The Scope 3 Emissions Target Setting Guidance underscores the importance of transparency and engagement with suppliers, customers, investors and regulators in setting targets, to help accelerate emissions reduction throughout the value chain. Scope 3 emissions are a critical area of focus for the mining and metals industry, representing up to 95% of a company’s total emissions, compared to 75% across other sectors[1]. This Guidance defines target-setting…

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