The Buck Stops With Who? Reuters Events Confront Scope 3 Emissions in Hard-To-Abate Sectors.
The fight to cut carbon emissions is one of the defining struggles of our time. To win the war on carbon it is key to understand who is producing the gas, how much they are producing, and how it can be minimized. Companies are getting on board, with 81% of businesses surveyed by the Boston Consulting Group (BCG) measuring their direct emissions “to some extent” in 2021. Yet, direct emissions only tell part of the story, meaning these efforts fall short of what is required for meaningful impact on manmade climate change.
Where Should the Buck Stop?
Not all industries can nullify their Scope 3 emissions with equal ease. Hard-to-abate sectors accounted for 30% of global carbon emissions in 2018 and could represent 60% of the total by mid-century as other sectors move ahead in tackling climate change.
Heavy industry, particularly mining and metals, can blame scope 3 for the bulk of these emissions. As the mining industry ramps up, how do you keep up with increased mineral demand and remain competitive whilst tackling the full scope of your related emissions?
Reuters Event’s whitepaper, “The buck stops with who? Confronting Scope 3 emissions within hard-to-abate sectors”,asks who’s responsible for curtailing scope 3 and delves into the complexities of measuring and abating these greenhouse gasses.
Get your copy to discover strategies to unlock the cost and climate benefits of reducing your carbon footprint:
- Understand why tackling scope 3 emissions is critical for hard-to-abate sectors to reach net-zero targets and the role of collaborative partnership and sector coupling to decarbonizing your full value chain.
- Unpack the importance of accurate reporting, with looming SEC disclosure rules, to get ahead and ensure you remain compliant whilst delivering deep decarbonization.
- Identify how to reduce cost, increase revenues and gain taxation advantages through tackling scope 3 emissions today.
The challenges associated with reducing Scope 3 emissions from mining and metals sectors are far from trivial, which implies solutions will be hard to come by without significant levels of intercompany and cross-sector collaboration. There are encouraging signs that such collaborative approaches are starting to emerge, fostered through regulations such as the Infrastructure Investment and Jobs Act in the U.S. and the likely introduction of SEC Scope 3 reporting rules.
Leaders need not await such prompts, however. There is a significant economic benefit to be had from taking immediate action on emissions, over a third of companies predicted to see $100 million more in annual benefits as a result of decarbonization.
Overcoming Scope 3 emissions is critical to decarbonizing heavy and hard-to-abate industries. This report is aligned with Reuters Events: Industry Transition 2023 (12 – 13 September, Pittsburgh) which unites the world’s leading meeting of hard-to-abate industry executives to find practical decarbonization pathways. To find out more and get involved head to https://bit.ly/3MN5eg7 or write to firstname.lastname@example.org .