target audience: TECH BUYER Publication date: Aug 2024 - Document type: IDC Perspective - Doc Document number: # EUR152435924
Addressing the Scope 3 Challenge: The Partnership for Carbon Transparency
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Abstract
This IDC Perspective highlights the importance of managing and reducing carbon emissions across the entire value chain of a product's life cycle. It underscores the complexity of accurately tracking and measuring these emissions, particularly Scope 3 emissions, which occur outside of a company's direct operations and encompass activities such as raw material extraction, transportation, and waste disposal. These emissions represent a significant portion of a company's overall carbon footprint; measuring and reducing them is pivotal in the quest for achieving net-zero emissions.
The Partnership for Carbon Transparency (PACT), initiated by the World Business Council for Sustainable Development (WBCSD), is presented as a groundbreaking effort to standardize the calculation and exchange of Scope 3 emission data. PACT aims to facilitate the adoption of consistent, comparable, and credible emissions data across value chains, enabling companies to implement effective decarbonization strategies.
"Embrace the challenge of Scope 3 emissions; collaboration and technology are key to unlocking carbon transparency and driving sustainability across value chains," said Gunjan Bassi, research manager, of IDC Manufacturing Insights' EMEA team. "By participating in initiatives such as PACT, manufacturing companies can make informed decisions, reduce their environmental impact, and move closer to achieving a low-carbon future."