With the growing concern on climate change, responsible enterprises are under pressure to materializing carbon neutrality targets within the defined timeframe.
Climate change are affecting all of us in a big way! The world is facing an urgent need to decarbonize, and companies are increasingly looking to reduce their carbon footprint. However, most companies lack the climate risk expertise and sustainable insight needed to accurately measure and reduce their greenhouse gas (GHG) emissions. For example, the fashion industry is one of the most polluting sectors in the world in terms of envoirnment impact.
According to Stand.earth the fashion industry continues to rely heavily on coal to power the manufacturing of its products, contributing to rising climate emissions and deadly air pollution in countries, such as Vietnam and Bangladesh, where its supply chain is concentrated. As people around the world call for a just and green economic recovery, the fashion industry, which is responsible for 5 to 8% of all GHG emissions, must quickly ramp up its efforts to eliminate fossil fuels across supply chains in order to halve its emissions by 2030 in line with the Paris Accord.
Most companies are very proactive in reducing their carbon footprint, but without insights into their Scope 1, 2 and 3 supply chain upstream and downstream activities, they're unable to accurately discover their total environmental impact. With real-time GHG inventory data and reliable consumption analysis this could help companies meet their net zero targets.
While publicly committing to decarbonisation, many companies continue to ignore the GHG emissions produced by their fossil fuel-reliant supply chain. In addition, these companies do not actively seek alternative solutions when it came to driving renewable energy in their supply chain, outside of their own operations.
Shipping emissions, for instance, often account for far more GHG emissions than the company's own Scope 1 emissions, yet is an area being ignored by the vast majority of companies. By not focusing on the above issues, it would be difficult to acheive the necessary sustainable development goals and GHG reduction targets.