Scope 3 & traceability: leveraging optimized technology | Events | Asia
While oil palm enterprises have made good stride in ESG reporting in the initial phase, tackling Scope 3 AND traceability can be daunting without leveraging on the right tools. Recent international sustainability standards and the stringent deforestation regulation accelerate the urgency to concurrently address Scope 3 and traceability.
It is estimated that industrial enterprises’ supply chain generates more than 70% of total carbon emission. The International Sustainability Standards Board (ISSB) and the European Sustainability Reporting Standards (ESRS), compel transparency and comprehensive ESG reporting, including GHG emissions of their supply chains. These standards require enterprises in the global supply chain to account for their carbon emission, including Scope 3. Many jurisdictions have adopted these standards into their own sustainability reporting. Non-compliance may result in loss of market share, reputation and penalties.
The EU Deforestation Regulation (EUDR) requires companies to demonstrate that their products are deforestation-free, not linked to illegal harvesting, trade and forest degradation. Starting from December 2024, enterprises must be able to demonstrate and trace that their products to the point of origin i.e. “plantation”. Inability to trace the entire supply chain may result in its inability to access the European markets.
Given its urgency and paramount importance of accessing the European market, it is most optimal to undertake Scope 3 and traceability concurrently, especially when there are many overlaps along the entire supply chain.
In this half-day event hosted by HCLTech and Eco-Business, we leverage on our & partners expertise in oil palm industry to share their experience in addressing the challenges in the oil palm industry, the importance of data management, and the benefits of leveraging technology to help manage Scope 3 and traceability.
This event is by invitation only. If you are keen to find out more about this event, please email events@eco-business.com
