Reducing carbon emissions in supply chains isn’t just about sustainability—it’s about future-proofing businesses. With Scope 3 emissions often making up the bulk of a company’s carbon footprint, tackling these indirect emissions is essential for achieving net zero.
By shifting to renewable energy, optimising logistics, and adopting circular economy principles, companies can drastically cut emissions while improving efficiency, resilience, and cost savings. More than compliance, this shift drives innovation, compelling businesses to invest in green technologies that deliver long-term value.
In Australia, the regulatory landscape regarding Scope 3 emissions is evolving. Historically, reporting these emissions was voluntary. With the Australian Sustainability Reporting Standards (ASRS) being approved by the Australian Accounting Standards Board (AASB) on September 20, 2024. These standards are set to take effect for annual reporting periods beginning on or after January 1, 2025. Companies will be required to report their Scope 3 emissions under the new regime.
As investors, customers, and employees demand greater accountability, companies that fail to act risk being left behind. Decarbonising supply chains isn’t just an ethical choice—it’s a strategic necessity for long-term success.
How is your organisation addressing Scope 3 emissions and reporting requirements?
Comments