The never-ending Scope 3 challenge
Scope 3 reporting is an enormous challenge for enterprise ESG leaders. As the spotlight on ESG grows, the industry evolves, and regulations move towards making Scope 3 reporting mandatory, there is ever-growing pressure to get this right.
An ESG leader at a financial service company — and member of the ESG & CSR Board — was facing the challenge of collecting Scope 3 data and wanted to benchmark with others in the same position at other major companies on how they’re collecting category 1 and 2 data from suppliers.
ESG & CSR Board members shared their tactics for collecting Scope 3 data.
The member posted this question to Fast Feedback — our private, facilitated member forum — where eight enterprise ESG leaders chimed in to share how they approach capturing Scope 3 data.
Few members — if any — have this challenge completely figured out, but the candid responses they gave contained actionable insights, vendor recommendations, and why they’ve made the decisions they have.
Insights included:
- Detailed looks at their methodologies (i.e. several said they use a hybrid of spend-based calculations and actuals when capturing category 1 and 2 data from suppliers and vendors.)
- Which EF databases they’re using (and recommend).
- Whether they use a homegrown template, and if so, what that looks like.
One nowhere-else conversation helped this billion-dollar company build their Scope 3 strategy.
The responses the member received not only gave him a look at how other ESG leaders at big companies across a variety of industries face this challenge — they also provided him with critical and actionable insights to take back to his leadership to inform their own strategy.
Membership helps ESG leaders navigate uncertainty every day.
This is just one example of how our community helps ESG & CSR Board members navigate ESG uncertainty every day. Our on-demand, unlimited support is always there to support our members, anytime they need it.
If you’re leading ESG at a major enterprise, you don’t have to go it alone — this community is for you.
