Simplifying Scope 3 engagement with the Climate Value Chain Framework
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Conversation on Scope 3 has stalled
Since 2021, Accela Research has been assessing the credibility and effectiveness of corporate transition plans. After closely tracking the performance of oil and gas majors for over three years, we've observed minimal progress in transforming their businesses or reducing emissions beyond divestments. Investors engaging with these companies have reported that scope 3 discussions have largely stalled.
In response, Accela has developed a framework to facilitate constructive dialogues with companies, helping to identify opportunities for emission reductions and where additional incentives or strategic levers are needed.
A framework to facilitate evidence-based dialogues on decarbonising value chain emissions
Evidence-based dialogues needed
Only 15% of companies with net zero commitment have set scope 3 emissions targets. The complexity of corporate value chains, combined with the varying degrees of influence companies have over their partners, makes it challenging to create business strategies for reducing scope 3 emissions.
To move forward, it is essential to foster evidence-based dialogues between corporations and their stakeholders. These discussions should focus on what companies can realistically achieve today and identify interventions that would increase the level of ambition for decreasing the emissions in their value chain.