New Guide—Greenhouse Gas (GHG) Management of All Three Scopes with ESG Software
Posted on March 30, 2022 | in Environmental Compliance
Let’s start with some facts about GHGs:
- Globally, GHG emissions have increased by 50% between 1990 and 2018
- In 2019, fossil fuels were the source of about 80% of U.S. primary energy consumption, 94% of total U.S. carbon dioxide emissions, and 80% of total U.S. GHGs resulting from human activity
- According to the EPA, carbon dioxide accounts for 65% of global GHG emissions
GHGs continue to increase, and as they do, the earth’s temperature is rising contributing to melting of artic ice, rising sea levels, and changes in weather patterns, which can increase potential for extreme weather events such as hurricanes. As a result, both voluntary and mandatory reporting frameworks have emerged, most notably, the new SEC proposal that, once adopted, will require U.S. companies to provide plans to address their climate risks, along with metrics to track their carbon footprint including Scope 1, 2, and in some cases Scope 3 GHG emissions. This new proposal makes GHG management not only essential to anyone looking to implement an Environmental, Social, and Governance (ESG) program but now a requirement to run a SEC complaint business.
How Are Greenhouse Gas Emissions Managed and Tracked?
Managing GHGs starts with understanding how they are generated and what can be done to reduce emissions. As mentioned above, there are three scopes of GHG emissions:
Scope 1 – Direct GHG emissions
Scope 2 – Indirect GHG emissions from purchased utility energy sources
Scope 3 – Indirect GHG emissions from upstream or downstream value partners whose GHG emissions are influenced by the company’s operations
Our experts at VelocityEHS have created a free guide that breaks down these three scopes and the importance of GHG tracking and reporting. This guide helps address the common struggle of tracking and reporting on all three scopes, the major ESG reporting frameworks, and how ESG software simplifies the process.
Download our newest resource—Tracking All Three Scopes of Greenhouse Gas with ESG Software and find out how easy it is to manage GHGs and create a more sustainable company.
VelocityEHS also offers best in class ESG Software that track all scopes of GHG emissions. Learn more about our GHG & Energy Management solutions.