Visualizing the 3 Scopes of Greenhouse Gas Emissions
Connect with us

Datastream

Visualizing the 3 Scopes of Greenhouse Gas Emissions

Published

on

The following content is sponsored by the Carbon Streaming Corporation.

 

Types of carbon emissions

The Briefing

  • There are three groups or ‘scopes’ of emissions as defined by the Greenhouse Gas (GHG) Protocol Corporate Standard
  • A company’s supply chain emissions (included in Scope 3) are on average 5.5 times more than its direct operations (Scope 1 and Scope 2)

Visualizing the 3 Scopes of Greenhouse Gas Emissions

Net-zero pledges are becoming a common commitment for nations and corporations striving to meet their climate goals.

However, reaching net-zero requires companies to shrink their carbon footprints, which comprise greenhouse gas (GHG) emissions from various stages in the value chain. As more companies work to decarbonize, it’s important for them to identify and account for these different sources of emissions.

This infographic sponsored by Carbon Streaming Corporation explains the three scopes of GHG emissions and how they make up a company’s carbon footprint.

The 3 Scopes of GHG Emissions

According to the Greenhouse Gas Protocol, there are three groups or ‘scopes’ that categorize the emissions a company creates. The GHG Protocol Corporate Accounting and Reporting Standard, referred to as the GHG Protocol Corporate Standard, provides the most widely accepted standards for reporting and accounting for emissions and is used by businesses, NGOs and governments.

Scope 1 Emissions

These are direct emissions from sources that are owned or controlled by the company. Consequently, they are often the easiest to identify and then reduce or eliminate. Scope 1 emissions include:

  • On-site manufacturing or industrial processes
  • Computers, data centers, and its owned facilities
  • On-site transportation or company vehicles

Scope 2 Emissions

These are indirect emissions from the generation of purchased or acquired energy that the company consumes. Scope 2 emissions physically occur at the site that produces the energy and the emissions depend on both the company’s level of consumption and the means by which the energy was generated (e.g. fossil fuels vs renewable energy). Scope 2 emissions include:

  • Purchased electricity, heating, cooling, and steam

Scope 3 Emissions

Scope 3 includes all other indirect emissions that occur throughout a company’s value chain. These occur from sources not owned or controlled by the company and are typically difficult to control and thereby reduce.

Scope 3 emissions often make up the largest portion of a company’s carbon footprint. According to the CDP, a company’s supply chain emissions (included in Scope 3) are on average 5.5 times more than emissions from its direct operations (Scope 1 and 2). These include emissions from:

  • Employee commuting or business travel
  • Purchased goods and services
  • Use of sold products
  • Transportation and distribution of products

Companies can reduce their Scope 1 and Scope 2 emissions by improving operational efficiency and using renewable energy sources. However, managing and reducing Scope 3 emissions can be difficult depending on the company’s upstream and downstream activities.

For example, controlling the emissions from the extraction of raw materials used in a company’s end-product or from the usage of such product by a customer is not entirely in the company’s hands. But this is where carbon offsets can help.

Offsetting Emissions with Carbon Offsets

One carbon offset, also referred to as a carbon credit, represents one metric ton of GHG emissions that has been avoided, reduced or removed from the atmosphere. By purchasing carbon credits, companies can offset the emissions that are difficult to reduce or eliminate, such as Scope 3 emissions.

In fact, the voluntary carbon markets will surpass $1 billion in annual transaction value for the first time in 2021. As decarbonization plans pick up pace, carbon credits will play an important role in helping companies achieve their climate goals.

Carbon Streaming Corporation is focused on acquiring, managing and growing a high-quality and diversified portfolio of investments in carbon credits.

Where does this data come from?

Source: The Greenhouse Gas Protocol Corporate Standard

Click for Comments

Datastream

How People Around the World Feel About Their Economic Prospects

In many of the world’s largest economies, including the U.S., Germany, and China, optimism around economic prospects sits at an all-time low.

Published

on

economic prospects of people around the world

The Briefing

  • Economic prospects are at an all-time low in nine countries, including the U.S., Canada, Germany, Japan, and China
  • China and the U.S. experienced the biggest year-over-year drops, at -8 p.p. and -6 p.p., respectively

How Countries Feel About Their Economic Prospects

Each year, the Edelman Trust Barometer report helps gauge the level of trust people place in various systems of power.

The report is also a useful tool to gauge the general mood in countries around the world—and when it comes to how people in developed economies feel about the near future, there’s a very clear answer: pessimistic. In fact, optimism about respondents’ economic prospects fell in the majority of countries surveyed.

Here’s a full look how many respondents in 28 countries feel they and their families will be doing better over the next five years. Or, put more simply, what percentage of people are optimistic about their economic circumstances?

Country% who are optimisticAll-time low?Change from 2021 (p.p.)
🇯🇵 Japan15%-1
🇫🇷 France18%-1
🇩🇪 Germany22%-2
🇮🇹 Italy27%0
🇳🇱 Netherlands29%-1
🇬🇧 UK30%+2
🇷🇺 Russia31%+1
🇨🇦 Canada34%-1
🇪🇸 Spain36%+1
🇰🇷 South Korea39%+6
🇺🇸 U.S.40%-6
🇦🇺 Australia41%-2
🇮🇪 Ireland42%-1
🇸🇬 Singapore43%-1
🌐 Global51%0
🇲🇾 Malaysia55%0
🇦🇷 Argentina60%-2
🇹🇭 Thailand60%-2
🇨🇳 China64%-8
🇿🇦 South Africa66%-2
🇲🇽 Mexico68%-1
🇧🇷 Brazil73%0
🇸🇦 Saudi Arabia73%0
🇦🇪 UAE78%+6
🇮🇳 India80%0
🇮🇩 Indonesia81%+11
🇨🇴 Colombia83%-1
🇳🇬 Nigeria87%n/a
🇰🇪 Kenya91%-2

Interestingly, nine countries (those with checkmarks above) are polling at all-time lows for economic optimism in survey history.

Whose Glass is Half Empty?

Japanese respondents were the most pessimistic, with only 15% seeing positive economic prospects in the near term. Only 18% of French respondents were economically optimistic.

While most developed economies were slightly more optimistic than Japan and France, all are still well below the global average.

As tensions between China and the U.S. continue to heat up in 2022, there is one thing that can unite citizens in the two countries—a general feeling that economic prospects are souring. As the U.S. heads into midterm elections and China’s 20th National Party Congress takes place, leaders in both countries will surely have the economy on their minds.

Whose Glass is Half Full?

Of course, the mood isn’t all doom and gloom everywhere. The United Arab Emirates saw a 6 percentage point (p.p.) jump in their population’s economic prospects.

Indonesia saw an 11 p.p. increase, and in big developing economies like Brazil and India, the general level of optimism is still quite high.

In some ways, it’s no surprise that people in developing economies are more optimistic about their economic prospects. Living standards are generally rising in many of these countries, and more opportunities open up as the economy grows. Even in the most pessimistic African country surveyed, South Africa, the majority of people still see improving circumstances in their near future. In Kenya and Nigeria, an overwhelming majority are optimistic.

Diverging Outcomes

One major prediction that experts agreed on for the year ahead is that economic outcomes will begin to diverge between countries with differing levels of vaccine access.

While this doesn’t seem to have affected attitudes towards economic optimism yet, it remains to be seen how this will play out as the year progresses.

Where does this data come from?

Source: 2022 Edelman Trust Barometer

Data notes: This data is derived from Edelman’s annual Trust Barometer survey, which includes 30,000+ respondents in countries around the world.

Continue Reading

Datastream

The Accelerating Frequency of Extreme Weather

Extreme weather events, like droughts and heatwaves, have become more common over the years. But things are expected to get worse.

Published

on

Extreme Weather Events

The Briefing

  • We’re already seeing the impact of climate change—today, droughts, heatwaves, and extreme rainstorms are 2x more frequent than they were a century ago
  • In less than a decade, Earth’s climate is expected to warm another 0.5°C
  • If this happens, heatwaves will be 4.1x more frequent than they were in the 1850-1900s

The Accelerating Frequency of Extreme Weather

The world is already witnessing the effects of climate change.

A few months ago, the western U.S. experienced one of the worst droughts it’s seen in the last 20 years. At the same time, southern Europe roasted in an extreme heatwave, with temperatures reaching 45°C in some parts.

But things are only expected to get worse in the near future. Here’s a look at how much extreme climate events have changed over the last 200 years, and what’s to come if global temperatures keep rising.

A Century of Warming

The global surface temperature has increased by about 1°C since the 1850s. And according to the IPCC, this warming has been indisputably caused by human influence.

As the global temperatures have risen, the frequency of extreme weather events have increased along with it. Heatwaves, droughts and extreme rainstorms used to happen once in a decade on average, but now:

  • Heatwaves are 2.8x more frequent
  • Droughts are 1.7x more frequent
  • Extreme rainstorms are 1.3x more frequent

By 2030, the global surface temperature is expected to rise 1.5°C above the Earth’s baseline temperature, which means that:

  • Heatwaves would be 4.1x more frequent
  • Droughts would be 2x more frequent
  • Extreme rainstorms would be 1.5x more frequent

The Ripple Effects of Extreme Weather

Extreme weather events have far-reaching impacts on communities, especially when they cause critical system failures.

Mass infrastructure breakdowns during Hurricane Ida this year caused widespread power outages in the state of Louisiana that lasted for several days. In 2020, wildfires in Syria devastated hundreds of villages and injured dozens of civilians with skin burns and breathing complications.

As extreme weather events continue to increase in frequency, and communities become increasingly more at risk, sound infrastructure is becoming more important than ever.

Where does this data come from?

Source: IPCC
Details: The data used in this graphic is from the IPCC’s Sixth Assessment Report, which provides a high-level summary of the state of the climate, how it’s changing, and the role of human influence.

Continue Reading

Subscribe

Popular