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Addressing Scope 3 emissions - with Bain & Company

In May, we hosted an executive breakfast briefing session together with Bain & Company to discuss the importance, and challenges, of companies addressing their Scope 3 emissions. Some of the key points discussed include:

  • Scope 3 is still seen as a burden. It’s one of many priorities but there is a general lack of urgency. It also feels a lot more challenging vs. scope 1 and 2.

  • The opportunity/challenge for companies is to derive a competitive advantage / 1st mover advantage from a robust scope 3 strategy.

  • There is a logical sequence of events to reduce scope 3 emissions:

    • Organization commitment and buy-in (this will partly be driven by regulation)

    • Definition of robust taxonomy and measurement mechanism

    • Strategy definition and target setting

    • Robust execution and monitoring of results

  • A comprehensive scope 3 strategy will encompass the entire value-chain / ecosystem (from suppliers to customers). Collaboration and partnerships are critical.

  • The BoD and individual BoD members have a significant role to play:

    • Alliance between BoD members and with Management to define and deliver a bold agenda. Next generation of shareholders can create a charter with expectations for the management

    • Objectives can be embedded in the incentive system, in company certifications and monitored via the Audit Committee on behalf of the BoD

    • The BoD has an opportunity to role model diversity

This event is part of a series of breakfast briefings that we will organise together with Bain & Company for our members. Stay tuned for the next ones later in the year!


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