Understand how the Partnership for Carbon Transparency is supporting organizations in taking action to reach net-zero emissions
Current efforts to reduce Greenhouse Gas (GHG) emissions are insufficient to ensure the targets of the Paris Agreement can be met. Pressure on organizations to accelerate action is mounting, given the important role they can play. To reach net-zero emissions before 2050, all organizations need to account for and share their GHG emissions as a first step towards reducing them. You cannot manage, what you cannot measure and track.
A growing focus is being placed on tackling emissions from across the value chain (Scope 3), as they often constitute the lion’s share of an organization’s overall carbon footprint. They are therefore seen as a significant lever. PACT aims to pull this lever, to support organizations in creating transparency and accelerating decarbonization.
Scope 1-3 emissions across industries in percent
When tackling Scope 3 emissions, all organizations share a common challenge: a lack of sufficiently granular, accurate and verified primary data, in particular for upstream emissions.
The lack of transparency on such data is typically caused by three factors:
Room for interpretation and inconsistency in existing methods and standards for the calculation of product level emissions.
Data access and exchange
Complex value chains and lack of interoperability between technology solutions used for data exchange.
Growing number of stakeholders seeking to tackle the transparency challenge with limited integration and harmonization.
Transparency is critical in understanding the full emissions impact, driving accountability and enabling decarbonization to occur at the scale needed. This should not be an excuse for organizations to take no action today, but simply a reminder that much more is required to get us over the finish line.
The Partnership for Carbon Transparency was created to deliver on this. In particular, PACT is putting in place:
for product-level emissions data accounting and exchange.
Open network infrastructure
for the exchange of product carbon data across technology solutions, based on a standardized approach and interoperability.
ensuring exchange, alignment and integration between all stakeholders working towards transparency.