ICMM has published “Scope 3 Emissions Accounting and Reporting Guidance,” which provides a standardized framework for mining and metals companies to calculate and disclose their value chain emissions.
The Guidance was developed with support from experts on Scope 3 from ICMM’s membership, and in consultation with investors and standard owners. It aims to improve transparency and accelerate collaborative action with suppliers and customers on reducing these emissions.
“Each company is on their own Scope 3 journey, and so the Guidance recognizes that a ‘one-size-fits-all’ approach does not work in the accounting and reporting of Scope 3 emissions, and that there is a need to accommodate different levels of calculation and reporting maturity across the industry,” said Jakob Stausholm, Rio Tinto chief executive and chair of the ICMM Council’s Climate Change Advisory Group.
“This Guidance can be used by any mining operation, regardless of commodity or geography, and so we call on all companies to adopt its use in their own accounting and reporting of Scope 3 emissions to help improve alignment in disclosures across the industry.”
In 2021, ICMM members committed to reach net-zero Scope 1 and 2 greenhouse gas (GHG) emissions by 2050 or sooner, in line with the ambitions of the Paris Agreement, as well as report on Scope 3 emissions by the end of 2023.
Scope 3 Emissions Accounting and Reporting Guidance can be downloaded here.