The Road from Scope 3 to Net Zero

Marc Roston ()
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Marc Roston: Stanford Law School

Chapter Chapter 4 in Settling Climate Accounts, 2021, pp 59-70 from Springer

Abstract: 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.

Keywords: GHG Protocol; Scope 3 Standard; PCAF; Net Zero; Scope 3; Carbon price (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1007/978-3-030-83650-4_4

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