Unpacking Scope 3
Article from MHI Solutions Magazine
When a group of chief sustainability officers from major consumer brands got together a few years ago, there was cause to celebrate: Goals they set to reduce their value-chain emissions had been approved by their bosses and the world’s leading arbiter of climate targets, the Science-Based Target initiative (SBTi).
But the CSOs were concerned about meeting the targets, which complied with SBTi’s new net-zero standard requiring a full accounting of Scope 3 greenhouse gas (GHG) emissions, defined as all indirect emissions from sources throughout a company’s value chain. What were they going to do next?
“There was a lot of handwringing and lack of clarity on how suppliers could be influenced to take climate action,” said Matt Banks, associate director for Guidehouse, the sustainability specialist that was advising the group. “They didn’t know (what to do next) and it was not in their job description.”
