Investors are increasingly putting pressure on companies to account for their greenhouse gas emissions. Aside from the physical threat of climate change, the business reasons for this are twofold; to prepare for future regulatory policies and to increase operational efficiency.
The first step that companies must take to account for GHG emissions is to establish a carbon baseline—typically by tracking all emissions for one year. The emissions baseline provides a point against which you can measure any changes in the amount of emissions due to projects or improvements. Just like financial accounting, or taking inventory of other resources, creating a carbon baseline allows companies to understand which departments or processes are driving their emissions budget. These areas will have the most potential for meaningful savings.
Your baseline should cover both direct and indirect emissions classified as Scope 1, Scope 2, and Scope 3 emissions. These scopes are defined by the EPA as:
Scope 1: direct emissions from sources that are owned or controlled by the Agency.
Scope 2: indirect emissions from sources that are owned or controlled by the Agency.
Scope 3: from sources not owned or directly controlled by EPA but related to Agency activities.
Tracking these emissions and establishing a baseline is made easy using EEM Suite’s GHG Reporting module. The module contains a set of reports that enables you to assign emissions factors to meters, calculate, track, and compare your organization's GHG emissions over time. This will help to identify trends and assess your performance in meeting the requirements of any voluntary and mandatory GHG programs in which you participate.
For more information or to schedule a demonstration on GHG emissions tracking contact info@energyhippo.com.
References:
Building Organizational Emissions Baselines for GHG Management. SINAI Technologies. https://www.sinaitechnologies.com/post/building-organizational-emissions-baselines-for-ghg-management. Accessed Wednesday February 24 2021.
More Companies Are Tracking Carbon Emissions - Is It Helping? https://www.greenbiz.com/article/more-companies-are-tracking-carbon-emissions-it-helping . Accessed Wednesday February 24 2021.
Greenhouse Gases at EPA. https://www.epa.gov/greeningepa/greenhouse-gases-epa . Accessed Wednesday February 24 2021.
