The Urgency of Carbon Emissions Monitoring and Reporting: Why Every Company Should Care
Carbon emissions are a major contributor to climate change, and the urgency of reducing them cannot be overstated. The latest scientific reports show that we need to cut global greenhouse gas emissions by at least 50% by 2030 to have a chance of limiting global warming to 1.5°C. This means that every organization, including those in the supply chain, needs to take responsibility for their carbon emissions and work towards reducing them. Utilizing tools such as a Carbon Emission Calculator can help organizations accurately measure their carbon footprint and identify areas for improvement.
The impact on small and large companies
Carbon emissions monitoring and reporting is not just for big companies; it is something small businesses must also consider.
As larger companies become more aware of their carbon footprint, they will look to their supply chains to reduce emissions. This means that smaller companies will have to start reporting their emissions so that larger companies can consider them when calculating their carbon footprint. Failure to do so could result in lost business opportunities or even exclusion from supply chains altogether.
Challenges of collecting data and calculating carbon footprints
Reporting carbon emissions can be challenging, especially when collecting data for scope 1, 2, and 3 emissions. Scope 1 emissions are direct emissions from owned or controlled sources, such as fuel combustion in boilers or vehicles. Scope 2 is indirect emissions from generating purchased electricity, heat, or steam. Scope 3 emissions are all indirect emissions that occur in the value chain of the reporting company, including emissions from the production of purchased goods and services, transportation of goods, and employee commuting.
There are also different methods for calculating carbon footprints; not all are accurate or comprehensive. Some ways may only consider scope 1 and 2 emissions, while others may include scope 3 emissions as well. It is essential for companies to carefully consider the method they use and ensure that it provides a comprehensive picture of their emissions.
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The urgency of climate change means we must act now to ensure a sustainable future for the planet. It affects every company.
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