The process requires utilizing volume or spend-based approaches in their early stages to estimate missing data.
It’s like piecing together a puzzle with many pieces. Each piece has a unique shape, color, and size. Some portions may be missing or hard to find, and others may not fit together perfectly.
Even so, organizations that have not started to collect Scope 3 emissions data may be unprepared for the challenges of reporting and risk impeding their preparedness for compliance.
Unpreparedness could lead to several other problems, such as:
✔ Low reporting quality,
✔ Difficulty tracking decarbonization targets, and
✔ Legal/reputational damage.
For example, TotalEnergies, and Greenpeace are at odds over the company’s 2019 carbon emissions, as the levels disclosed by the firm were almost four times lower than the actual levels uncovered by Greenpeace.
Preparing now can help organizations avoid the challenge of going from zero to perfect compliance when regulations become more stringent.
As a management and technology consulting firm, Synvance guides businesses on their core transformational activities regarding their supply chain, from identification through business-as-usual.
