• Risk management: Provides a comprehensive understanding of environmental implications, highlighting potential risks associated with products.
• Heightened insight: Combining Scope 4 reporting with other scopes enables businesses to make better- informed decisions, going beyond direct and indirect emissions.
• Scope 3: Scope 4 allows businesses to make stronger- informed decisions about their supply chain, helping them reduce their Scope 3 emissions.
Find out more here.
Scope 4 challenges Despite these benefits, as Scope 4 is still in its preliminary period, there are possible challenges:
• Lack of recognition: The various names associated with Scope 4 may weaken its message, hindering widespread acknowledgment.
• Standardisation challenges: Since Scope 4 reporting is voluntary, businesses aren't required to publish CO2e metrics, making accurate comparisons difficult and risking reliance on industry averages rather than like- for-like comparatives.
• Greenwashing concerns: Without a mandate and clear standards, Scope 4's current structure may open opportunities for greenwashing tactics.
• Accuracy in data: Quantifying emissions that were never made poses accuracy challenges, especially when relying on estimations without clear guidance for accurate comparisons.
• Simplifying data: Using the earlier example on Scope 4 and virtual technology, to get an accurate quantification of its avoided emissions requires factoring in the larger picture e.g. energy consumption from each worker's home.
But why do FM businesses need to
start thinking about Scope 4? With so many pressures tied to businesses within the FM Industry, adopting Scope 4 reporting into your business
practices may seem like unnecessary added work.
www.tomorrowsfm.com
However, FM leaders should start the process of adopting Scope 4 emissions into their business strategy as there are significant advantages. The benefits of Scope 4 align not only with environmental objectives but also contribute to enhanced operational efficiency within FM businesses. Through the adoption of Scope 4 emissions, FM leaders can benefit from a reduction in their Scope 3 emissions, then create new and innovative services that can lead to further carbon avoidance down their value chain. This not only aids compliance with environmental regulations but also positions FM businesses at the forefront of innovation adoption.
However, the impact of Scope 4 reporting extends beyond internal operations. It plays a pivotal role in fostering stronger relationships with clients, investors, and staff. In an era where businesses increasingly seek sustainable solutions, Scope 4 data will spearhead through a saturated market space. It provides clear and concise information about your business's environmental credentials, compared to competitors, heightening trust and credibility in an environment where sustainability is a key consideration for all stakeholders.
Final thoughts Although not officially recognised by GHG Protocol scope reporting framework, Scope 4 underscores the need for a more comprehensive carbon accounting approach, shifting focus from reduction to complete emission avoidance. Integration of this reporting method promises enhanced transparency, simplifying stakeholder understanding amid a market filled with long-winded environmental claims. Despite acknowledged challenges and lack of official recognition, Scope 4 showcases its value, streamlining data analysis, driving innovations, and establishing new eco- benchmarks. As governing bodies address these challenges, businesses should consider adopting Scope 4 reporting, empowering them to make well-informed, eco-conscious decisions beneficial for their operations and the planet.
https://biologicalpreparations.com TOMORROW’S FM | 53
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