Relevant Standards
- CDP (Carbon Disclosure Project) is a self-reported survey of carbon emissions and policies by companies. Here is an example of Adobe's response to CDP questionnaire. The data they collect is available to paid subscribers.
- Science Based Target Initiative (SBTi) validates companies' climate programs against the Paris Agreement 1.5 degree goals. They publish standards for emissions reductions by industry, the Sectoral Decarbonization Approach, including a spreadsheet tool of the targets, and a list of companies taking action with their emissions reduction targets. There are currently 1750 companies with either approved targets or in the process (committed.) They do not monitor the progress of companies' emissions programs.
- Transition Pathway Initiative (TPI) assess management awareness of climate issues and carbon performance based on International Energy Agency (IEA) Energy Technology Perspectives report. Their methodology is detailed here.
- Climate Action 100+ Net Zero Benchmark is focused on about 160 top emitting companies, relying in part on TPI data. Their 2020 report has detailed information about the companies.
- Greenhouse Gas Protocol sets the standard for corporate emissions calculation. They have published standards guidelines and a sample GHG Protocol calculator.
- Taskforce for Climate Finance Disclosure (TCFD) and Sustainable Accounting Standards Board (SASB) are general guidelines for reporting on cilmate climate and sustainability. Take a look at the TCFD disclosures and SASB disclosures for UPS as examples.
- Global Reporting (GRI) is a more comprehensive set of reporting standards. See both Adobe and UPS below for examples of GRI reports.
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Examples of Corporate Climate Disclosures
Let's look at a few companies:
- Adobe - Corporate Social Responsibility
- Scope 1, 2, and 3 emissions - CSR Report page 22
- Third party verified emissions - Audit letter
- Breakdown of Scope 3 emissions - Not available
- Emissions reduction targets - Not in CSR report but it is on the SBTi list of companies taking action (search for Adobe): "Adobe Inc. commits to reduce absolute scope 1 and 2 GHG emissions 35% by 2025 from a 2018 base year. Adobe commits to reduce absolute scope 3 GHG emissions from business travel 30% over the same timeframe. Adobe also commits that 55% of its suppliers by spend covering purchased goods and services and capital goods, will have science-based targets by 2025. The targets covering greenhouse gas emissions from company operations (scopes 1 and 2) are consistent with reductions required to keep warming to 1.5°C."
- American Airlines - Environmental, social, and governance
- Scope 1, 2, and 3 emissions - AAG Environmental Data report
- Thid party verified emissions - last page of Environmental Data report
- Breakdown of Scope 3 emissions - Not available,
- Emissions reduction targets - "Committed" under SBTi but no definite target set here. According to the 2020 ESG Report, the goal is to "Achieve net zero direct carbon emissions by 2050" through a combination of upgrading to more efficient aircraft, switching to sustainable aviation fuel, energy efficiency and renewable energy on the ground, and carbon offsetting via CORSIA.
- UPS - Social Impact Reporting
- Scope 1, 2, and 3 emissions - TCFD disclosures page 5
- Emissions are not third party verified. An audit letter on page 6 of SASB report says that their auditor has reviewed their SASB disclosures (which includes only Scope 1 and Scope 3 contractors' fuel emissions)
- Breakdown of Scope 3 emissions - Not available
- Emissions reduction targets - In TCFD and SASB disclosures, "...an environmental sustainability goal – achieving carbon neutrality by 2050. The road map to carbon neutrality by 2050 includes the following targets: • By 2025 o 25% renewable electricity for facilities (existing goal). o 40% alternative fuel purchases as a percent of total ground fuel (existing goal). • By 2035 o 30% sustainable aviation fuel. o 100% renewable electricity for facilities. o 50% reduction in CO2 per package delivered for global small package (2010 baseline). "
Research