Workshop: Value Chain Emission Accounting framework to recognise Scope 3 investments toward Science Based Targets
Many companies are motivated to take climate action in their value chains, yet current limitations in the GHG Protocol Corporate Scope 3 Standard mean that companies are not fully recognized for these efforts. Gold Standard, the Science Based Targets partners, Danone, Mars and Livelihoods Fund are developing a sector-neutral accounting and reporting framework that provides guidance on how companies can invest in supply chain interventions at scale and incorporate these into reporting towards their performance targets. These include activities inside the Scope 3 boundary associated with the production of purchased goods and services, such as energy efficiency measures and biological sequestration (eg, through forests or soil carbon).
The new Value Chain Emission Accounting Framework will enable companies to:
– Use project level information in a way that is compatible with corporate level GHG accounting and target setting
– Generate quantified and certified impact data through certification services
– Make broader claims about the intervention, including how it makes direct contributions to Paris Agreement pledges or sustainable development priorities
This workshop, held during Gold Standard’s conference “Grow to Zero,” will include a brief presentation of the Framework, an interactive discussion of the proposed approach, and an explanation of next steps, including an invitation to participate in Phase 2 working group to test the application of the Framework in various sectors.