The View From Across the Primary Data Chasm: What To Do With Your Scope 3 Data
Congratulations! You’ve crossed the Scope 3 Primary Data Chasm – a major milestone on your path to Net Zero. You can enjoy the view from the other side, but the emissions reduction journey doesn’t end there, it’s time to think about next steps.
What’s next? Now it’s time to think about how you can strategically use the data you’ve gathered to unlock new benefits and plot a course to Net Zero. Don’t lose momentum, here’s what to do with your primary data:
Use Emissions Data to Identify Hotspots
Start by digging into your Scope 3 data to identify emission hotspots across your supply chain. Just like when you started gathering data from suppliers, finding the best starting point is key. Focus on suppliers who contribute the highest percentage of your emissions footprint and examine specific processes, products, or facilities driving these numbers. Tackling Scope 3 requires strategic prioritisation – target the easier wins to optimise resources and improve efficiency.
A data-informed Scope 3 emissions inventory enables both quick wins and long-term planning. You can better predict the impact of new initiatives, respond to emerging climate risks, and make data-driven decisions about where to focus your reduction efforts for maximum impact.
Benchmark and Plot a Course to Net Zero
Net Zero might still be a way off yet, but from here you might at least catch a glimpse of the finish line. Primary Scope 3 data will help you bring the finish line into focus as you set emissions reduction targets, measure your progress against them and see where you sit next to others in your industry.
Having the data is one thing, but what you do with it is another. Your long-term GHG emissions inventory and reduction targets will lead you to net zero, and regulators, the public, your stakeholders, and the boardroom, will expect you to monitor your progress.
Transparency is key – setting science-based targets using your data demonstrates credibility by showing that you’ve nothing to hide in Scope 3. This commitment sends a clear message to stakeholders and suppliers that you’re serious about emissions reduction and ready to own your environmental impact.
Comply with Confidence
Mandatory regulations on emissions, including mandatory reporting and reduction targets are driving business uptake of sustainability initiatives. Now you can tackle the reporting requirements of regulations like the Corporate Sustainability Reporting Directive (CSRD) and Carbon Border Adjustment Mechanism (CBAM), primary data in hand.
Primary Scope 3 data will help with carbon bookkeeping, and can reveal opportunities to relieve your carbon tax burden. Fortified by primary data, you can ensure your reporting excels and reduce regulatory risk. If you want to know how to do more with reports, Emitwise can help.
Use Data to Gain a Competitive Advantage
Demonstrate your climate action commitment through data-backed sustainability achievements. Early adoption of emissions reduction strategies helps futureproof your business and differentiate you from competitors.
This goes for suppliers too. Your commitment to emissions data provides a point of difference that will make you stand out to sustainably minded procurement heads. Communicating emissions reduction achievements effectively will help spread the message up and down the supply chain.
Engage Suppliers
For procurement heads, you’ve gained a new set of criteria you can use to determine the value of different suppliers: their emissions calculation maturity and their ability to report it. With the data to compare, you’ll be able to develop strategic partnerships with your most beneficial suppliers and develop personalised, collaborative emissions reduction strategies, so you’re always in step with one another.
Supplier engagement is a win-win, and as suppliers you’ve nurtured transparent, cooperative relationships with your customers to cross the data chasm with them. You can now position your business as a sustainable one to unlock new opportunities and partnerships.
Embed Sustainability into Your Business’ DNA
Many businesses are already combining the duties of the CPO and CSO. But the commitment to sustainability shouldn’t end when you leave the sustainability or procurement departments. With a clear picture of your Scope 3 emissions, it’ll be easier than ever to talk about sustainability beyond your own department and weave sustainability into your entire business’ DNA. Dolby exemplifies this approach, using accurate emissions data to weave sustainability thinking throughout their company.
Over time, you can have everybody measuring, reporting, reducing and repeating. All the way to Net Zero.
Conclusion
Gathering Scope 3 emissions data marks a major milestone, but it’s the beginning of your emissions reduction journey. By taking strategic steps to analyse, implement, and communicate your emissions data, you can unlock the long-term benefits.
Sustainability offers both opportunity and competitive advantage. Embrace it to build a resilient business model that makes a real impact.
Speak to Emitwise to learn how we can guide your next steps.
