ESG
Reducing Scope 3 emissions starts transparently with capturing emissions data
Identify opportunities for reduction When this emission data is readily accessible across the entire sourceto-pay process , procurement will be in a better position to identify any suppliers that do not align with their sustainability goals and uncover opportunities to reduce emissions . This will require a structured collaborative effort with suppliers . The baseline estimates help firms to focus on high-emitting categories and products . They can then create actionable plans to reduce emissions in the most important areas and collaborate with suppliers to track and report progress accurately .
Once a plan is completed , however and perhaps you now have a lower carbon product , you need to track purchasing against that in order to close the loop and show how this is reducing Scope 3 emissions .
Ending Scope 3 greenwashing
Procurement teams play a crucial role in making meaningful progress in combating climate change , but the race to net zero will only get off the starting line with accurate and actionable data . Armed with emissions data from the entire supply chain , procurement teams can design and implement emission reduction strategies that are transparent , actionable , timely , and sustainable for their business . Organizations that are seen to tackle Scope 3 emissions will reap the rewards beyond regulatory compliance , helping to support the environment , enhance company reputation , and create a loyal customer and employee base . ■
a list Patel
Vishal Patel is VP of Product at Ivalua , a leading provider of cloud based Spend Management software . Its complete , unified platform empowers businesses to effectively manage all categories of spend and all suppliers , increasing profitability , improving ESG performance , lowering risk and improving employee productivity . Ivalua is trusted by hundreds of the world ’ s most admired brands and recognized as a leader by Gartner and other analysts .
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