Jasmin Jessen, SustainabilityMagazine.com, September 1, 2024
Deloitte’s 2024 Sustainability Action Report explores the state of ESG reporting and shows only 15% of companies report on Scope 3 emissions
There’s no question about it – Scope 3 emissions can be tricky to tackle.
They can contribute up to 95% of a company’s total emissions, but as they are not produced by the company it’s difficult to have full visibility of their impact.
Research from Deloitte shows that while 74% of companies disclose their Scope 1 emissions, a mere 15% report on Scope 3.
This gap represents a huge blind spot in emissions.
Deloitte’s 2024 Sustainability Action Report explores the state of ESG reporting and the tangible benefits of becoming more sustainable.
“In the rapidly changing ESG landscape, we’ve seen considerable strides among businesses,” says Kristen Sullivan, Audit & Assurance Partner for Sustainability and ESG Services at Deloitte.
“The creation of dedicated ESG teams, the rise in specialised roles, and investments in sustainability reporting, all indicate a strategic shift toward embedding sustainability into their core operations.
“While challenges still exist, the commitment to sustainability is becoming more evident as companies continue to unlock the potential of ESG insights.”
Companies have been building ESG capacity
The report says that companies are making ESG reporting a strategic priority, with 98% of survey respondents reporting some level of progress towards sustainability goals and targets in the last year.
Nearly all companies surveyed have an ESG working group meeting at least quarterly, and 43% meet at least once per month.
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