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Carbon Accounting & Management

Q: What are Scope 1, 2, and 3 emissions?

Scope 1 emissions: Direct emissions from owned or controlled sources, such as fuel combustion in company vehicles or emissions from company facilities. Scope 2 emissions: Indirect emissions from the generation of purchased electricity, steam, heating, and cooling consumed by the reporting company. Scope 3 emissions: All other indirect emissions that occur in the value chain of the reporting company, including both upstream and downstream emissions, such as business travel, waste disposal, and supply chain activities.

With increasing pressure from stakeholders – investors, customers, regulators, and communities – businesses must proactively address their environmental impact, with GHG emissions at the forefront. Accurate carbon accounting empowers you to identify and mitigate risks, enabling data-driven decisions that translate to significant emissions reductions, driving both compliance and new avenues for value creation and resilience.

Adopting carbon accounting practices will provide:

Enhanced Regulatory Compliance

Stay ahead of evolving environmental regulations, safeguarding your business from penalties and disruptions.

Cost Savings and Efficiency

Identify areas where energy use and emissions can be reduced, leading to lower operational costs and improved efficiency.

Competitive Advantage

Differentiate your business in the marketplace by demonstrating a strong commitment to sustainability, attracting eco-conscious customers and investors.

Risk Management

Proactively address environmental risks and reduce exposure to market volatility related to carbon pricing and regulatory changes.

Improved Stakeholder Relationships

Build trust with stakeholders by providing transparent and verifiable information about your environmental impact and efforts to reduce it.

Our approach to Carbon Accounting is tailored to meet the unique needs of your business.

01.

Determine Boundaries

Define what parts of your organisation and value chain are included in the assessment (operations, subsidiaries, etc.).

02.

Identify Sources of Emissions

Pinpoint all activities within your boundaries that generate GHG emissions (direct operations, energy use, value chain).

03.

Select Calculation Approach

Choose the appropriate calculation methods based on data availability and desired accuracy (e.g., spend-based, more detailed data-driven calculations).

04.

Collect Data & Choose Emission Factors

Gather activity data (fuel use, electricity, etc.) and select corresponding emission factors (relating activity to emissions).

05.

Apply Calculation Tools

Perform the emissions calculations.

06.

Create Footprint Report

Aggregate emissions data from all sources to get a comprehensive organisational footprint.

07.

Decarbonisation Planning

Identify opportunities for reduction across operations and supply chain and set targets (ideally in alignment with the Science Based Targets Initiative – SBTi).

Why The Growth
Activists?

Partnering with us empowers organisations to take control of their carbon footprint. Our expert team provides the guidance, tools, and support you need to succeed in your carbon accounting journey.

We ensure compliance, drive strategic alignment, build your team’s capability and maximise the value of your investments while benefiting both the planet and its people. Crucially, we bridge the gap between ambitious science-based environmental goals and pragmatic operational and commercial realities, delivering sustainable outcomes that drive your business forward.

Becoming a B Corp Unlocking Impact and Value

Becoming a B Corp is a powerful way to show an organisation’s commitment to meeting the highest standards of verified social and environmental performance, public transparency, and legal accountability, and aspire to use the power of markets to solve social and environmental problems.

FAQs

What is Carbon Accounting?

Carbon accounting is the process of measuring and reporting an organisation’s greenhouse gas emissions. It involves tracking emissions from various sources, including direct emissions from owned or controlled sources, indirect emissions from the generation of purchased electricity, and other indirect emissions such as those from transportation and supply chain activities.

Why is carbon accounting essential?

Carbon accounting is essential because it meets the growing expectations for businesses to have evidence-based practices for assessing material issues, managing impacts, and setting and reporting on targets. Stakeholders, including investors, customers, and regulators, increasingly demand transparency on carbon footprints and net-zero targets. By preparing and complying with carbon accounting practices, your organisation stays ahead of the curve, enhancing its reputation and competitiveness.

How long does Carbon Accounting take?

The timeline can vary based on your company’s stage of preparedness and fiscal year schedule. It is also influenced by the complexity of your operations and the maturity of your current sustainability reporting practices.

What are Scope 1, 2, and 3 emissions?

Scope 1 emissions: Direct emissions from owned or controlled sources, such as fuel

combustion in company vehicles or emissions from company facilities.

Scope 2 emissions: Indirect emissions from the generation of purchased electricity, steam, heating, and cooling consumed by the reporting company.

Scope 3 emissions: All other indirect emissions that occur in the value chain of the reporting company, including both upstream and downstream emissions, such as business travel, waste disposal, and supply chain activities.