Disclose your Scope 3 emissions, you cowards – TechCrunch

If you want Take a look at the public comments submitted to the US Securities and Exchange Commission on the proposed climate regime and find out which companies are serious about reducing their carbon emissions.

You can tell whether a company is serious by its attitude towards so-called Scope 3 emissions. Depending on the business, Scope 3 emissions can account for a significant portion of a company’s carbon footprint. Such emissions can result from activities and assets that a company does not own or control, such as: B. rented office space, business trips or the processing of its products at the end of their life. They can also occur when customers use their products, such as when someone drives their gas-powered SUV.

In short, if your company is serious about taking action on climate change, it should probably estimate its Scope 3 emissions. At the very least, if it’s about being sustainable, it shouldn’t undermine attempts to standardize scope 3 disclosures.

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For that reason, the comments on the SEC’s website make interesting reading. Companies from Walmart and BlackRock to Fidelity, Gap, ExxonMobil and Southwest Airlines have made it clear that they would rather not disclose their Scope 3 emissions, even with the safe harbor provisions the SEC offers to limit liability . These companies are effectively saying they don’t take climate change seriously enough to fully understand — and disclose — their own impacts on it.

There are many, many other companies not covered here that share a similar stance. Why am I picking these out? Walmart because it is world’s largest retailer. BlackRock and Fidelity because they are First and third largest wealth managers. ExxonMobil because it is largest non-state oil company. Gap because the company claims it “feels[s] an ethical responsibility to align our goals and strategies with the best scientific and industry practices,” says her own Climate data page. And Southwest because it’s among the largest airlines in the US, no matter what measure you use.

demur and delay

The arguments against disclosure of Scope 3 data generally fall into three categories: companies complain that the data is unreliable or unsafe, that it is too difficult to obtain, or that it exposes them to lawsuits.

The first reeks of a classic FUD campaign—fear, uncertainty, and doubt. Cynthia Lo Bessette, Fidelity’s Chief Legal Officer, said the SEC that Scope 3 data is “speculative, evolving, unreliable and there are no current standards to ensure consistent and comparable data”.

Disclose your Scope 3 emissions, you cowards – TechCrunch Source link Disclose your Scope 3 emissions, you cowards – TechCrunch

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