Breaking through climate action barriers in value chains – a new approach to accelerating Scope 3 decarbonization
Director of Product Elena Saputo explores how SustainCERT is bringing speed and scale to climate action by enabling verifiable and traceable claims for value chain decarbonization.
Few will challenge that finding ways to transition our planet away from the most devastating consequences of unchecked global heating is quickly becoming a key priority across industries.
One key area of focus in reaching net-zero targets is the rapid reduction of value chain emissions, also known as Scope 3 emissions. This is especially the case in carbon-intensive sectors like food & agriculture, apparel, and transport. Scope 3 emissions represent the greenhouse gas (GHG) emissions that are associated with a product’s upstream and downstream activities, such as raw materials or transport, and which are outside of a company’s own direct influence.
Given the size of Scope 3 emissions – they account for, on average, 75% of a company’s carbon footprint but can rise to as much as 99% - it is of paramount importance that they are tackled swiftly, credibly, and sustainably. However, complexities around data and costs are just some of the challenges that are making it hard to make progress.
SustainCERT’s mission is to scale credible climate impact by combining climate and accounting expertise with the latest digital technology. As part of SustainCERT's solutions to support companies with their value chain decarbonization action, we offer knowledge building and validation & verification services for value chain projects.
However, with the clock ticking on climate action, it is crucial that we find collective paths forward that can help scale and accelerate value chain decarbonization. SustainCERT is providing just that with the release of its new value chain decarbonization impact solution to support corporate climate action.
This solution is not only the newest tool in our climate toolbox, but a market-first in value chain reporting. It will enable companies to not only verify, but also to issue, track, transfer, and claim GHG emission reductions and removals that are realized in their value chain. The solution has embedded Lifecycle Assessment (LCA) science that provides safeguards against double-counting, double-claiming, overclaiming and misrepresentation of claims. Therefore, it allows companies to report on their climate (carbon) targets in a scientifically robust and credible way. The technology also enables companies to transfer GHG emission reductions or removals to more than one entity along the product’s value chain, within established rules, creating additional cost-sharing incentives.
This solution encompasses three modules:
- Impact validation and verification, to improve and speed up knowledge building and validation & verification of value chain projects.
- Impact management, transfer and claiming, to manage, transfer, claim and report GHG outcomes.
- Impact Registry, a publicly available database that provides details on validated and verified projects, as well as information on impacts that have been claimed from those projects.
With the launch of this unique solution and the ability to enable co-claiming of verified impact, SustainCERT is introducing a new, game-changing science-based tool for companies looking to co-invest in value chain decarbonization. This ensures their reporting is accurate, credible, and representative of on-the-ground impact. By providing claim transparency, third-party verification, and enabling everyone to be recognized for their efforts, this creates real incentives for investing in and scaling Scope 3 action.
Interested and want to know more about SustainCERT's pioneering solution? Find all the information below.