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The Road from Scope 3 to Net Zero

In: Settling Climate Accounts

Author

Listed:
  • Marc Roston

    (Stanford Law School)

Abstract

Twenty years ago, the Greenhouse Gas Protocol defined emissions Scopes as means to evaluate risks due to impending carbon pricing. Scope 1 counted direct emissions. Scope 2 covered emissions from purchased power. Scope 3 captured upstream and downstream supply chain emissions. In the context of risk management, stakeholders viewed Scope 3 as secondary, and optional. In the turn to Net Zero, Scope 3 has become a key tool for managers and activists. Double counting, internal and external boundary problems, financial engineering offsets, and off-balance sheet exposures confound the usefulness of Scope 3. Using Scope 3 as a tool for capital allocation poses additional challenges as effective use requires carbon pricing imposed by non-government actors, which pushes into uncharted legal territory.

Suggested Citation

  • Marc Roston, 2021. "The Road from Scope 3 to Net Zero," Springer Books, in: Thomas Heller & Alicia Seiger (ed.), Settling Climate Accounts, chapter 0, pages 59-70, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-83650-4_4
    DOI: 10.1007/978-3-030-83650-4_4
    as

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