Every year around this time, we take a moment to reflect on the previous year and to look ahead toward the new year. During your vision boarding, resolution writing, and KPI setting, we here at CEBA encourage you to include Scope 3 in those plans.
Although Scope 3 emissions can be up to 90% of an organization’s overall emissions, they are sometimes forgotten in our goal setting. They are coming from outside of the organization, so how can you manage them? The answer is not obvious, but at CEBA, we believe it lies in partnership and accountability.
In 2024, we hope that you resolve, manifest, and decide. Let us explain.
Resolve to understand your Scope 3 impact. Where in your organization’s value chain are those emissions coming from? To what extent do you understand your suppliers and your relationship with them? It may seem that, because they are not your direct emissions, Scope 3 is not for you to solve; that is not the case. It is your job — and that of your finance, procurement, and sustainability teams — to start understanding your impact, building relationships with your suppliers, and reducing your Scope 3 emissions.
Manifest preparation in the face of incoming regulations. Scope 3 data reporting is in your future, so why not get a head start on planning? The United States and the European Union are two in a growing list of global actors prioritizing emissions data collection for Scopes 1, 2, and 3 with the goal of reducing overall carbon emissions. Be prepared to report for your company and your value chain; this New Year, educate yourself, make a plan, and get started.
Decide to have a meaningful impact. Reducing Scope 3 emissions and partnering with suppliers means more than just setting a goal. Indeed, more than half of companies with an upstream Scope 3 target do not have a strategy to meet that goal. In 2024 we all have the chance to learn from the success and failures of others to make the most significant Scope 3 emissions reductions yet.
Our Supply Chain Program connects you to emerging global insights, offers tailored educational tools and resources to engage with your suppliers, and keeps you up-to-date on procurement best practices. In the new year, resolve to join the movement. Take advantage of our diverse network of influential organizations to fill the gap with peer-to-peer learning on your Scope 3 emissions. Join CEBA today.