Firms unlikely to meet deadline for enhanced climate disclosures - report

According to a survey of 801 businesses conducted by the Corporate Sustainability Reporting Directive (CSRD), 60 per cent of UK businesses are unlikely to be ready to meet the January 2024 deadline for enhanced climate disclosures set by the EU's Scope 3 emissions reporting mandate, putting them at risk of fines and additional penalties.

One of the issues raised in this report is determining where the sources of Scope 3 emissions are in the complex supply chains and who is responsible.

Dr Roshan Boojihawon (pictured) and Dr Carole Couper are leading a research project at the University of Birmingham to better understand these and other issues. This workshop aims to better understand the impact and risks of Net Zero targets (around Scope 3) on SMEs' value-creation and supply-chain activities.

Scope 3 considers indirect emissions from a company's supply chain. The supply chain is the most important piece of the net-zero puzzle, accounting for 90 per cent of most companies' carbon footprint. However, with vast and complex supply chains, calculating, tracking, and reducing Scope 3 emissions can be difficult, and finding resilient Net Zero Solutions can be even more difficult.

Every SME's journey to Net Zero is unique, and strategy and policy support should reflect this. Decarbonising their business models entails taking immediate responsibility to adapt to reduce emissions, which might not be straightforward for most firms.

This project is the first in a series of workshops designed to bring together SMEs in the United Kingdom to discuss their strategy and approach to achieving net-zero emissions by addressing Scope 3 emissions in their value creation and throughout their supply chain.

This first workshop is the start of an 18-month research project. It will include two more workshops in 2023/24 where we will build and report on evidence and experiences, learning and sharing practical insights with participant organisations on a continuous basis. Attending the workshop is free, and travel expenses to and from the UK (Midlands) will be covered. If you're interested, you can learn more and register HERE.