How do you compare and benchmark your carbon performance with your peers and competitors?

To effectively compare and benchmark your carbon performance against peers and competitors, start by identifying key metrics such as carbon emissions per unit of output, energy efficiency, and carbon intensity. Utilize industry-standard frameworks and tools like the Global Reporting Initiative (GRI) or the Carbon Disclosure Project (CDP) to ensure consistency. Engage in sector-specific benchmarking studies and participate in carbon performance indices to gauge your position. Analyze public disclosures, sustainability reports, and performance ratings of competitors. Regularly review and update your benchmarking practices to adapt to evolving standards and maintain a competitive edge in carbon performance.

1. Standardized Metrics: Use industry-recognized carbon emissions metrics such as CO2e emissions per unit of production or revenue. 2. Data Sharing Initiatives: Participate in industry collaborations or platforms where companies can anonymously share and compare carbon performance data. 3. Benchmarking Tools: Utilize carbon benchmarking tools and databases to compare your performance against industry averages or sector-specific benchmarks. 4. Industry Reports: Refer to industry-specific sustainability reports or studies that provide insights into peers' carbon performance. 5. External Verification: Engage third-party auditors to verify and validate carbon performance data for credibility and accuracy.

Defining the scope and boundaries of carbon accounting is crucial for a comprehensive inventory. Aligning with the GHG Protocol ensures a standardized approach. Additionally, consider incorporating a materiality assessment to prioritize significant emissions sources. Clearly articulate the methodology for emission allocation among entities or products, promoting transparency. Acknowledge the evolving landscape by mentioning potential updates in emission factors or reporting standards to demonstrate adaptability. Emphasize the importance of periodic reviews to refine boundaries, ensuring accurate and relevant reporting.

Align on standard greenhouse gas reporting protocols and get external verification. Participate in industry-specific sustainability reporting frameworks and certifications. This allows apples-to-apples comparisons using consistent metrics. Work with consultants to model your complete emissions footprint across scopes and map reduction pathways. But also look beyond just carbon - assess broader environmental and social impacts holistically.

Gather data for each emission source and scope, such as fuel consumption, electricity use, or business travel. Apply emission factors to estimate GHG emissions per unit of activity. Use tools like spreadsheets, software, surveys, or meters. Apply conversion factors, like global warming potentials, to compare the effects of different GHGs over time.

In addition, ensure data accuracy by validating sources and considering seasonal variations. Collaborate with relevant departments for comprehensive information and identify any uncertainties in your calculations. Regularly update emission factors and stay informed about industry benchmarks to enhance precision. Implementing a robust data management system aids in tracking progress and facilitates timely adjustments. Engage employees in the process to foster a culture of sustainability, promoting collective responsibility. Remember, transparent reporting is vital for credibility and stakeholder trust. Efficient data collection and calculation lay the foundation for meaningful emission reduction strategies.

Data should be collected across the value chain according to the operational and organisational boundaries chosen. Data should also be collected from suppliers for adequate calculation of Scope 3 emissions (e.g. upstream transportation, purchased goods and services). A decision has to be made whether data is collected purely spend-based (e.g. in USD, EUR) or also activity-based (e.g. in litres, tons of material). Spend-based might be easier but makes the estimation less accurate. Activity-based is harder to collect but makes the baseline much more accurate and leads to more actionable insights.

Selecting benchmarks and peers is crucial for meaningful performance evaluation. When choosing benchmarks, opt for those reflecting industry norms, best practices, or set targets. Peers should share similar characteristics, be it in size, sector, location, or product range. Sources like public databases, reports, or standards aid in this selection. Ensure data quality, consistency, and comparability, making necessary adjustments. Additionally, consider future trends and emerging practices to stay ahead. This strategic approach enhances decision-making, fostering growth and competitiveness within your industry.

One easy way to benchmark but also to choose what is material in our measurement and reporting is to use the CDP data. Quick guide is: - Register: Go to CDP website and create a free account - Shortlist companies similar in the same industry and occupying a similar area of the value chain - Find reports: Sarch for the shortlisted companies’ CDP reports. Filter **Program: “Climate Change”** to include only carbon emissions reports and **status: “submitted”**. Generally, consider reports with score C and above. Those below C are likely to have incomplete data - View the report: Click on the report under the “Response” column to view it, and ensure it is the right company or entity of interest.

To analyze, interpret, & communicate data, start by comparing carbon intensity metrics, such as emissions per unit of revenue, production, or energy consumed, to normalize differences in size & output across your industry. This allows for a meaningful comparison that accounts for variations in business scale & operations. Identify trends & patterns in the data to gain insights into how your carbon performance aligns with industry standards & best practices. By recognizing these trends, you can highlight areas of strength and pinpoint opportunities for improvement. Communicate these findings clearly to stakeholders, illustrating your performance relative to peers & demonstrating your commitment to continuous improvement in sustainability.

1?? Daten analysieren: Nutze Metriken: Vergleiche absolute Emissionen, Intensit?t und Reduktionen. St?rken und Schw?chen: Finde heraus, wo du gut bist und wo du noch zulegen musst. 2?? Ergebnisse kommunizieren: Visuelle Tools: Setze auf Diagramme, Tabellen und Dashboards für klare Darstellung. Klare Berichte: Fasse deine Erkenntnisse pr?gnant zusammen. Erz?hl deine Story: Erkl?re den Hintergrund deiner Zahlen und Ma?nahmen. 3?? Strategie und Planung: Chancen und Risiken: Identifiziere neue M?glichkeiten und manage Risiken. Actionable Insights: Nutze die Daten, um strategische Entscheidungen und konkrete Verbesserungspl?ne zu erstellen. ?? Mach deine Ergebnisse sichtbar, lerne daraus und verbessere kontinuierlich deine Strategie.

Whilst bench-marking against peers is important, the goal should always be to authentically strive to be the best your organisation can be - not just marginally better than alternatives!

While creating a GHG baseline and agreeing how to measure the reduction is important is required as basic steps, the more important ingredient is to create targets and measures that used context-based sustainability as reference. The Sustainable Development Performance Indicators are the only framework that helps you to be truly sustainable. All other existing approaches make a company "less bad" at best. and that might not be sufficient to really solve the emissions problem.