A Climateworks video is raising awareness of the need for companies to tackle emissions along their value chain.
The video highlights how companies can start addressing the complex process of reducing these scope three emissions.
Companies control most of Australia’s greenhouse gas emissions and have the power to influence emissions across the entire economy.
Although many companies are setting net zero commitments, the majority focus on addressing operational emissions — or scope one and two emissions — rather than scope three emissions, which occur along a company’s value chain.
Yet for most companies, scope three is the largest source of emissions.
Because of this, global investors, customers, suppliers, regulators and employees expect companies to address these emissions to prevent the worst impacts of climate change.
Climateworks understands the challenges and opportunities facing companies looking to achieve net zero emissions in line with limiting global warming to 1.5 degrees, and that most organisations are grappling with where to start, how to have the most impact and how to monitor, measure and collect data.
Significant collaboration is key to decarbonising at the scale needed.
The best way to start addressing the complex process of reducing scope three emissions is for companies to work with their value chain partners on opportunities to capture and share emissions information and work together towards a common goal.
By working collaboratively, companies can seize the opportunities of a decarbonised economy.