Scope 3 greenhouse gas (GHG) emissions reporting remains a challenge for many organisations. In this joint research study, 94% of our respondents reported that their organisations are not fully measuring and analysing Scope 3 emissions. This is a worrying trend as Scope 3 emissions can account for as much as 70% of an organisation's overall emissions footprint. However, there is a silver lining: 64% of respondents whose organisations have not yet set emissions targets believe they should be doing so. This suggests that demand for Scope 3 emissions reporting will grow. 

 

The research report also identifies four grouping of organisations in Singapore in relation to Scope 3 emissions reporting. They are - High Adopters, Moderate Adopters, Low Adopters, and Emerging Adopters. Across these categories, the lack of human resources is identified as a top barrier to Scope 3 emissions reporting. This is an area where accountancy and finance professionals are well-placed to upskill and reskill to take on new sustainability roles in Scope 3 emissions reporting. As corporate reporters, accountancy and finance professionals already have fundamental skills in financial reporting. They are familiar with applying accounting standards and ensuring that reporting is transparent, verifiable, comprehensive, independent, and fair. They are also proficient in data collation and analysis to provide meaningful explanations for informed decision making. These skillsets are transferable to sustainability reporting, including Scope 3 reporting.