The fight against climate change is one of the greatest challenges of the 21st century. All over the world, the impacts of global warming are being felt. Despite the collective efforts of our economy and society to limit global warming, there still is some way to go to create tools and solutions for organizations to accurately measure and assess GHG emissions. This would allow for the tracking of corporate GHG reductions and thus allow for better financing decisions for more favorable products and services.
Companies and institutions that are exposed to this issue typically face a variety of factors that hinder emissions measurement and evaluation, primarily for the following reasons:
- Challenges with access to quality data for credible GHG inventories
- Complexity of measuring GHG emissions, particularly in relation to organizations’ indirect “upstream”, “downstream”, “life cycle” or “financed” emissions (i.e. Scope 3 emissions)
- Inconsistent approaches to and methodologies for quantifying GHG emissions (e.g. operational boundaries, emissions factors used, global warming potentials used)