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No company’s action plan is complete without considering how to remove greenhouse gas (GHG) emissions from its supply chain. Corporations are ratcheting up their efforts and using science-based targets (SBTs) to set supplier emissions targets and address Scope 3 emissions.
The complexity and opacity of global chemical supply chains means that Scope 3 emissions are underreported and difficult to measure (Figure 1). Organizations often lack the right information to effectively reduce emissions across their global supply chain.
However, we cannot wait for perfect information before acting. Companies must move quickly to reduce emissions within their supply chains. The broad range and impact of Scope 3 emissions on our total carbon footprint calls for action. Leaders must decarbonize their supply chains to accelerate progress towards ambitious goals.
In our experience working with many multinational companies, we have seen the most significant emission reduction potential derived from six key levers that procurement and sustainability leaders can implement right now (Figure 2). Each presents valuable lessons from industry leaders in the chemical sector.
