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Gearing up for Scope 3 emissions measurement, reporting and cuts
There should be a clear understanding and emphasis placed on the opportunities arising from sustainability and how they translate into long-term financial success for the organisation in the short, medium and long term.
Scope 3 greenhouse gas (GHG) emissions form a significant part of an organisation’s total emissions inventory. It ranges from 60 to 95 percent of total emissions and is the most difficult and complex to measure compared to scope 1 and scope 2, as these emissions are outside the direct control of the organisation.
IFRS S2 (Climate-related Disclosures) provides transition relief for organisations in their first annual period of applying the standard, allowing them to exclude disclosing scope 3 GHG emissions.
