How Industry Networks Are Sharing Emissions Data To Tackle Climate Change
Originally published on World Economic Forum
Sustainability transformations hinge on data transparency. The availability and management of accurate, verifiable data are essential to achieving corporate ESG metrics and shared global goals. Companies must not only use tools to record, report, and act on sustainable business data within their operations but also share it across their networks of suppliers and partners to unlock the potential for industry decarbonization at scale.
Scope 3 emissions (emissions outside companies’ own operations) represent over 80% of emissions across most business sectors. What’s needed is end-to-end value chain transparency and sharing of actual and verified emissions data, not estimates or averages, that are accounted for down to the individual product and supplier level.
Moving from averages to actuals has enormous benefits. It allows companies to embed sustainable business decisions into their business processes from sourcing to product development, invest in high-yield decarbonization activities in their supply chains, adhere to increasing regulatory requirements, and deliver more accurate corporate reporting.
