Corporate climate action: 3 essential steps to reduce Scope 3 emissions

The document outlines three essential steps for companies to reduce Scope 3 emissions: prioritizing indirect emissions across the entire value chain, using procurement standards to drive supplier decarbonization, and adopting cross-industry milestones such as the Scope 3 Upstream Action Plan.

• Scope 3 emissions, which include indirect greenhouse gas emissions from products sold and suppliers, frequently constitute the largest part of a company's total carbon footprint, making their addressment critical for climate action.
• Companies can drive decarbonization across value chains by implementing rigorous sustainability standards in procurement, requiring suppliers to use trusted verifiers for sustainability scorecards, share lifecycle analysis data, and commit to Science Based Targets initiative (SBTi) validated goals, with the risk of losing preferred supplier status for non-compliance.
• The Scope 3 Upstream Action Plan, launched at COP28 by the World Economic Forum’s Alliance of CEO Climate Leaders, establishes a framework for supplier engagement with specific milestones: members should set 2050 net-zero aligned Scope 3 targets by 2025, engage 30% of suppliers by 2025, expand engagement to 67% by 2026, and ensure suppliers establish and disclose their own Scope 1-3 targets by 2028.
• GEA has committed to achieving net zero by 2040 across all emission scopes and its entire value chain, with interim 2030 targets validated by the Science Based Targets initiative (SBTi).

APA

Klebert, S. (2024). Corporate climate action: 3 essential steps to reduce Scope 3 emissions. World Economic Forum. https://www.weforum.org/stories/nature-and-biodiversity/corporate-climate-action-3-essential-steps-to-maximize-impact/

Chicago

Klebert, Stefan. Corporate climate action: 3 essential steps to reduce Scope 3 emissions. World Economic Forum, 2024. https://www.weforum.org/stories/nature-and-biodiversity/corporate-climate-action-3-essential-steps-to-maximize-impact/.

Wikipedia

{{cite press release |last1=Klebert |first1=Stefan |title=Corporate climate action: 3 essential steps to reduce Scope 3 emissions |publisher=World Economic Forum |date=17 January 2024 |url=https://www.weforum.org/stories/nature-and-biodiversity/corporate-climate-action-3-essential-steps-to-maximize-impact/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{klebert2024corporate, author = {Klebert, Stefan}, title = {{Corporate climate action: 3 essential steps to reduce Scope 3 emissions}}, publisher = {World Economic Forum}, year = {2024}, month = jan, url = {https://www.weforum.org/stories/nature-and-biodiversity/corporate-climate-action-3-essential-steps-to-maximize-impact/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }