The EcoVadis and BCG Carbon Action Report reveals how managing upstream Scope 3 emissions can turn a US $ 500bn risk into a powerful business opportunity
ECOVADIS | BCG
The EcoVadis and BCG Carbon Action Report reveals how managing upstream Scope 3 emissions can turn a US $ 500bn risk into a powerful business opportunity
Upstream Scope 3 emissions, the hidden emissions tied to sourcing and production, remain one of the biggest blind spots in corporate sustainability. According to the EcoVadis and Boston Consulting Group( BCG) Carbon Action Report, these emissions are on average 21 times greater than a company’ s direct footprint. Yet, 90 % of businesses still lack targets to reduce them.
For many, this unmanaged risk could soon become an untapped opportunity. As investors, regulators and supply chains demand transparency, companies that engage their suppliers are proving to be nine times more likely to achieve Scope 3 targets. The findings build a compelling business case for action. Pierre-François Thaler, Co-CEO and Co-Founder of EcoVadis, believes Scope 3 is where the climate and business agendas truly intersect.“ When buyers spend trillions of dollars a year, redirecting even a small portion toward sustainable suppliers can transform entire industries,” he says.
EcoVadis has scaled its sustainability ratings platform to assess more than five million supplier profiles, supporting more than 1,500 global procurement organisations.
4 ecovadis. com