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Emissions data doesn't have to be unreliable. Persefoni's Sustainability Director, Anissa Vasquez, debunks myths about California's SB253 and sheds light about why it's time to treat our emissions data like our financial data. In fact, several companies operating in CA are already doing this.
Last year, the California Chamber of Commerce raised concerns about the previous iteration of SB 253, arguing that it can be “hard to verify certain emissions data”, which by its very nature, can be “subjective, inaccurate and often incomplete.” But is this true? Well, let's look at the evidence. The Greenhouse Gas Protocol has the best methodology in which businesses can achieve a true and fair account of their emissions. And thousands of companies are already using it.
There are so many large businesses working in California that measure and disclose their emissions. Companies like Adobe, Coca-Cola, Nestlé and Ford. Even new companies based in California, like Allbirds, have included disclosure in their brand story. Now, if the goal here is to price climate risks into the economy and benefit from the transition to a low carbon economy, this only works at scale.
Look at CalPERS. They took the carbon footprint of its global public equities portfolio valued at 300 billion to set climate priorities and divest from risky investments. Smart move for maximizing a return.
Let's address the elephant in the room: Scope 3. It's the largest and most complex part of a company's emissions profile to measure. But with the right tools and technology, this doesn't have to be as scary and painful as some think. Remember, businesses in California have done this already and are doing it today. And with Greenhouse Gas Protocol and internal controls, emissions calculations and verification is getting more reliable.
By leveraging carbon accounting tools, you can now treat your emissions data like your financial data. And if you think about it that way, getting ready for climate disclosure now is the only move.
Emissions data doesn't have to be unreliable. Persefoni's Sustainability Director, Anissa Vasquez, debunks myths about California's SB253 and sheds light about why it's time to treat our emissions data like our financial data. In fact, several companies operating in CA are already doing this.
