Scope 3 Accounting Guide: A comprehensive resource for the DIY Retail Sector
As sustainability becomes increasingly vital to businesses worldwide, the DIY sector must significantly reduce greenhouse gas (GHG) emissions and foster a future of retail centred on sustainability.
Understanding the need to reduce environmental impacts, EDRA/GHIN, an association recognised as the voice for the DIY sector globally, has published the Scope 3 Accounting Guide in collaboration with Ricardo, a global leader in engineering and environmental consulting.
This guide is a practical resource for DIY retailers of all sizes, from local stores to big box chains, to reduce their GHG emissions and contribute to global sustainability efforts. It aims to equip them with the tools and knowledge needed to begin navigating the increasingly complex world of carbon accounting.
Key highlights of the Scope 3 Accounting Guide:
- Applicable Scope 3 Categories: The guide will help retailers understand which emissions sources are most relevant to the DIY sector and how to prioritise them.
- Embodied emissions from products purchased for resale (Scope 3 Category 1): Purchased goods and services are usually the largest or second-largest emission source for retailers. The guide explains different methods for calculating these emissions, how to develop the accuracy of data, and other important considerations.
- In-life emissions from sold energy-consuming products (Scope 3 Category 11): On average, the use of sold products accounts for 26% of Scope 3 emissions for DIY retailers. The guide provides information on understanding emission sources and calculating their lifetime energy consumption.
- Scope 3 target setting: Decarbonisation targets are a powerful way for organisations to kick-start action and make progress in reducing their GHG emissions. Guidance is given on how DIY retailers can set suitable Scope 3 targets.
- Tools to help with Scope 3 accounting and data collection.