Why you need a Scope 3 strategy now
Developing a Scope 3 strategy starts with understanding the implications for your specific business. You’ll then move on to measuring and managing those emissions, working closely with suppliers and customers. Many companies have begun to set specific targets on Scope 3, with the more advanced companies setting science-based ones. When you approach Scope 3 systematically and strategically, you not only can progress on commitments but can also reap significant benefits such as growing your market share.
As with most environmental, social, and governance (ESG) areas, Scope 3 requires the attention of the full leadership team. Given its far-reaching impact, every area of the business could be affected, from supply chain and product development to reporting and tax, to marketing and, of course, sustainability. In many businesses, this cross-company understanding and collaboration is only just beginning.
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