The starting point for a valid strategy to combat climate change is the calculation of greenhouse gas emissions caused by human activities. The emissions inventory represents a collection of technological, and operational data, which allows the quantitative assessment of emission sources and the emission of greenhouse gases in the atmosphere related to them.
Measuring your emissions accurately is the first steptostart anengagement with your stakeholders and disclosure process, communicate transparently how the issue of climate change is addressed and to demonstrate the sustainability of your business model in the time.
Scope 3 emissions represent indirect emissions due to the company's activity. This category includes the emission sources that are not under the direct corporate control but whose emissions are indirectly due to the company activity.Some examples of indirect emissions are:company trips made with vehicles not owned by the company (air travel), production of raw materials and finished products purchased from suppliers (goods, fuel), etc…
To achieve concrete emission reduction targets the company should begin to map the emissions from its own value chain to be able to define risk factors and exposure to climate change.Knowing and mapping the impact of materials and production processes that make up a product or service is essential to define concrete emission reduction targets*, measurable and comparable to the main international scenarios (2 degrees Celsius, SBT, etc).
An emission reduction target is the medium-long term objective that a company places on climate change. The definition of a target allows the company to set clear and shared emission reduction targets over time, in line with industrial plans. The targets that a company sets may be intensity targets* and/or absolute targets* and are calculated on the company's characteristics, the reference sector, growth trends and the investment plan.
Defining an emission reduction target is the first step to commit to the international goals set by the Paris Agreements.
By defining a target, the company will be able to evaluate its own performances with respect to the baseline (reference year), communicate to its stakeholders its commitment to managing the risks deriving from climate change and improve and consolidate its relationship with investors and market.
Science Based Target (SBT) is a path defined for a sustainable future-proof growth, specifying when and how quickly to reduce its greenhouse gas emissions.SBT are the objectives to reduce "science-based" greenhouse gas emissions, in line with the decarbonisation level required to keep the global temperature increase below 2 degrees compared to pre-industrial temperatures, as described in the Fifth Assessment Report of the Intergovernmental Panel on Climate Change (IPCC), and in the Paris Agreement.
The initiative was born with the intention of guiding companies in defining ambitious climate change mitigation objectives to ensure that their Climate Action is in line with scientific objectives.
Defining a Science Based Target is strategic to stimulate innovation, strengthen credibility and solidity with investors and the market, increase competitiveness and reduce the risk of regulatory uncertainty.