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D E F I N I N G C A R B O N M A N A G E M E N T Carbon management is a systematic approach that involves everyone, particularly corporations. It is about measuring, reducing, and offsetting scope 1, 2, and 3 carbon emissions to mitigate environmental impact. This approach includes strategies such as understanding our companies' car- bon footprint, supporting carbon offsetting initiatives, and promoting carbon sequestration practices. The reason why so many regulations are now emphasizing and requiring scope 3 reporting, is because scope 3 emissions typically account for the nnn Scope 1 Direct emissions that occur from sources owned or controlled by the organization. DIRECT EMISSIONS INDIRECT EMISSIONS Scope 2 Indirect GHG emissions associated with the purchase and consumption of acquired energy. Scope 3 Occur from sources not owned or controlled by the company that occur in the value chain of the organization, including both upstream and downstream emissions. Purchased electricity, steam, heating, & cooling for own use Company Facilities Company Vehicles Extraction and production of purchased materials; transportation of purchased fuels; and use of sold products and services Emissions are classified into scopes for differentiating between direct and indirect emissions of a business and for more accurate measurement and reporting overall. Classifying and sorting your emissions into scope 1, 2, and 3 emissions majority of companies' emissions footprint. By looking at just scopes 1 and 2, we are not accurately representing our carbon footprint. Because of this, more organizations are reaching into their value chains to understand the full GHG impact of their operations. Although these emissions are not under the organization's control, the organ- ization may be able to affect the activities that result in the emissions. The organization may also be able to influence its suppliers or choose which vendors to contract with based on their practices. Copyright 2024 Tango. All rights reserved.

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