Decoding Scope 1, 2 & 3 Emissions: Climate Action

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by KnowESG
KnowESG_What is Scope 1, 2 and 3 emissions
Image courtesy of Freepik

According to recent research by Amárach, only 20% of companies truly understand scope 1, 2, and 3 carbon emissions.

Scope 1 emissions originate directly from company-owned sources, such as vehicles and boilers, while scope 2 emissions result indirectly from purchased electricity and heat.

Scope 3 emissions, also indirect, arising from suppliers' and customers' activities. To address this knowledge gap, Ibec and Accenture have published the Climate Action Toolkit, offering insights on sustainability terms and guidelines for reducing carbon emissions.

The guide educates businesses on the significance of prioritising climate action and provides insights into climate change, greenhouse gas emissions reduction, and sustainability reporting.

It also outlines a 'best practice' approach to developing a climate action strategy, covering emissions baseline establishment, target setting, strategic implementation, and progress measurement and communication.

The challenges and developments in major sectors of the Irish economy, including food and drink, commercial and financial services, the public sector, and technology, are discussed in the final chapter.

Fergal O'Brien, Executive Director of Lobbying and Influence at Ibec, emphasises that ESG initiatives are now a fundamental aspect of responsible and resilient businesses, highlighting the importance of aligning sustainability goals with scientific research through Science Based Targets (SBTs).

Niamh O'Gorman, Sustainability Lead at Accenture in Ireland, acknowledges the commitment of Irish businesses to achieve net zero carbon emissions through science-based targets but recognises the challenges involved. The Ibec-Accenture carbon reduction toolkit aims to provide guidance and support in navigating these necessary changes efficiently and effectively.

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Source: RTE

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