The need to measure and reduce greenhouse gas emissions has become paramount in a world where environmental consciousness is at the forefront of business strategies. Companies worldwide are striving to set Science-Based Targets (SBTs) as part of their commitment to combat climate change. However, calculating Scope 3 emissions, often the largest portion of a company’s carbon footprint, has proved to be a daunting challenge. Blue North is thrilled to announce the launch of our innovative Scope 3 Tool, designed to simplify and streamline the process of calculating these emissions in accordance with the GHG Protocol Corporate Value Chain (Scope 3) Standard.
The Significance of Scope 3 Emissions
To understand the significance of our Scope 3 Tool, it’s essential to comprehend the three scopes of emissions measurement defined by the GHG Protocol. Scope 1 encompasses direct emissions from a company’s operations, while Scope 2 accounts for indirect emissions from purchased electricity, heat, or steam. Scope 3 delves deeper into the value chain, covering all other indirect emissions associated with a company’s activities, including upstream and downstream emissions from suppliers, transportation, and product use.
Scope 3 emissions are often the most challenging to quantify and control, as they depend on factors beyond a company’s immediate control. Yet, they are the most impactful in terms of environmental footprint. Accurate measurement of these emissions is a critical step toward achieving sustainability goals and setting Science-Based Targets that align with the Paris Agreement.
Simplifying Scope 3 Emissions Calculations
Our Scope 3 Tool simplifies and accelerates the process of calculating Scope 3 emissions, making it more accessible to companies of all sizes. Here’s how it works:
Streamlined Data Collection: Our tool offers a user-friendly interface that allows companies to capture data efficiently. This minimises the administrative burden associated with Scope 3 data gathering.
Comprehensive Emissions Scopes: The tool covers all 15 categories outlined in the GHG Protocol Scope 3 Standard, ensuring an assessment of emissions from the entire value chain.
Reporting: The results are reported to facilitate transparent communication of emissions data to stakeholders. We can also support a closer investigation to identify areas of high emissions, or hotspot areas.
Setting Science-Based Targets
One of the primary objectives of our Scope 3 Tool is to support companies in setting Science-Based Targets. SBTs are emission reduction goals in line with climate science and the Paris Agreement’s target to limit global warming. To establish credible SBTs, companies must first understand their current emissions profile accurately, including Scope 3 emissions.
Our tool empowers companies to calculate and track their Scope 3 emissions efficiently, enabling them to set emission reduction targets that align with the latest climate science. This demonstrates a company’s commitment to sustainability and enhances its competitiveness and resilience in a rapidly changing business landscape.
Join Us in the Sustainability Revolution
In a world where sustainability is not just a choice but a necessity, our Scope 3 Tool provides a solution for companies looking to measure, manage, and reduce their carbon footprint. By simplifying the complex process of calculating Scope 3 emissions and supporting the Science-Based Targets journey, we are dedicated to helping businesses contribute to a greener and more sustainable future.
Join us in the sustainability revolution. Let’s work together to reduce emissions, combat climate change, and create a healthier world for future generations.