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November 8, 2023

Top tips for businesses to reduce carbon emissions

CO2e emissions are direct greenhouse gas (GHG) emissions produced by a business’s activities. Under the GHG Protocol, the most widely used and respected methodology for calculating CO2e emissions, they are classified as scope 1, 2 and 3. CO2e emissions impact the environment and an organisation’s ability to reach Net Zero and save money in the process. Here are some top tips to reduce CO2e emissions by scope.

scope 1, 2 & 3

1. Select a carbon emissions data reporting partner that provides data Chartered Accountants can work with (Scopes 1,2 and 3)

With new ESG disclosure regulation arriving in 2024, the need for financial grade CO2e emissions data has never been more pressing. That means you need to be certain that your data reporting partner operates in line with international accounting standards; is transparent about their methodology and leaves a clear audit trail and data evidence.

Working with a business such as Omnevue that is committed to generating financial grade CO2e and ESG data, ensures that the same reliability, consistency and professionalism of financial reporting is brought to non-financial reporting.

esg data report accounting standards

2. Set carbon emission reduction targets (Scopes 1,2 and 3)

Establish clear and achievable emission reduction goals for your organisation. This will help ensure a more structured approach to meeting your sustainability goals and help you improve your tracking of emissions reduction progress – saving money in the long term. A business can easily set KPIs in the Omnevue platform and track their progress.

CO2 emissions calculator scope 1 2 & 3

3. Enhance energy efficiency (Scope 1)

Invest in energy-efficient equipment and technologies for your operations such as high-efficiency boilers, furnaces, and vehicles. Aside from reducing emissions, this will lower operational costs and generate cost savings through reduced energy consumption. The regular maintenance of equipment to prolong equipment life will also help minimise costs.

4. Transition to clean energy sources (Scope 2)

Consider switching to cleaner energy sources like natural gas or renewable energy (e.g. solar or wind) to power your operations. You can invest in on-site renewable energy systems to generate electricity and/or heat without emissions. Explore alternative fuels, such as biodiesel or electric vehicles. Not only will these tactics help reduce your Scope 2 emissions, they will also reduce your reliance on fossil fuels and lower energy costs over time.

5. Implement waste reduction and management (Scope 3)

Minimise waste generation and implement effective waste management strategies to reduce emissions from waste disposal. Also consider composting organic waste and recycling materials to divert waste from landfills. This will minimise your landfill impact and reduce waste disposal costs.

6. Optimise your processes (Scope 1 and 2)

Analyse and improve production processes to reduce emissions at the source. This may involve redesigning processes or using cleaner production techniques. Where possible, also be sure to implement emission control technologies. Overall, this will reduce resource consumption whilst lowering emissions during production.

7. Embrace green building practices (Scope 1 and 2)

Focus on green building design and construction, and retrofit existing buildings with energy-efficient systems. This will lower operational costs for your buildings, reduce energy consumption and enhance working conditions for employees.

8. Foster employee awareness and engagement (Scopes 1,2 and 3)

Educate employees about the importance of reducing emissions and encourage eco-friendly practices at work. For example, promote carpooling or public transport to reduce emissions.

This has the power to enhance workplace habits and improve employee morale and satisfaction which can increase productivity and lower staff turnover.

9. Collaborate and build partnerships (Scope 3)

Collaborate with suppliers and partners to reduce emissions throughout your supply chain, encouraging them to adopt environmentally friendly practices. Whilst this enhances your supply chain’s sustainability and reduces your Scope 3 emissions, this approach will also increase your competitiveness in a sustainability-focused market and strengthen relationships with stakeholders.

Remember that reducing CO2e emissions not only benefits the environment but can also lead to cost savings, improved public perception, and increased competitiveness in a world increasingly focused on sustainability and climate change mitigation.

Speak to one of our ESG experts to find out how Omnevue can help you transition to
Net Zero and spot ways to save money.

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