As we reckon with the impact human influence has played in warming the climate, pressure mounts on businesses, especially large corporations, to reverse climate change. In recent years, many Fortune 500 companies set aggressive climate goals to reach carbon neutrality before it’s too late. But there’s a snag: up to 85% to 95% of these companies’ greenhouse gas emissions are not under the direct control of the company.
According to the most widely used international carbon accounting tool, The Greenhouse Gas Protocol, direct emissions from operations (Scope 1) and indirect emissions from purchased energy (Scope 2) make up only a fraction of an organization’s carbon footprint. The rest are classified as Scope 3 and represent the strong majority of most organizations’ emissions. These are the carbon emissions from the entire value chain, including assets owned or controlled by third-party vendors. Without collaborative efforts among vendors and organizations to optimize operations and share the results, Source 3 emissions remain challenging to report and even more challenging to improve.
Scope 3 emissions are difficult to track as they occur outside of an organization’s direct operations and control. But as pressure grows for accountability and action, major companies, like Apple, Amazon, and Walmart, are ready to track, report, and execute a plan of action to tackle Scope 3 emissions and achieve true carbon neutrality — but they can’t do it alone. Now the pressure passes on to commercial and industrial (C&I) vendors throughout the supply chain to clean up their operations and provide accurate reports of carbon emissions.
Are these small and medium-sized C&I vendors prepared to address their own carbon emissions? Historically, the answer is no. They often lack the energy expertise and capital to tackle their emissions while successfully running their business. That’s where we come in. Gridwealth works with small to medium C&I companies to simplify their carbon-cutting energy decisions.
Scope 3 Solution
Gridwealth supports the adoption of climate-friendly products and services by simplifying the decision-making process for small and medium C&I businesses. Through our curated network of providers and solutions, we create tailored systems to fit the energy needs of any organization. We shrink carbon footprints through decisions rooted in bottom line value, with a clear return on investment and savings driving the process. It starts with our complimentary building analysis. From there, we offer carbon-cutting, efficient energy solutions that actually create savings and revenue streams based on our suite of services:
- Retail Electricity Supply
- Community Shared Solar savings
- RECs and Carbon Offset
- Solar PV and Battery Backup
- IoT Analytics
- Renewable Heating and Cooling
- Demand Response
- Energy Efficiency Upgrades
- Building Automation
- HVAC constant commissioning
Achieving Fortune 500 net-zero goals is not possible without tackling Scope 3 emissions. The key to addressing Scope 3 emissions is to streamline the energy decision-making process for the wide array of small and medium-sized vendors. Between our expert energy solutions and intuitive value based decision making process, Gridwealth takes the pain out of energy decisions and equips vendors across the supply chain with the necessary tools and practices to offset Scope 3 emissions.
For more information, contact Gridwealth.