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MARCH 2024- Scope 3 plus News and Notes

U.S. Roundtable for Sustainable Poultry & Eggs (US-RSPE)

A multi-stakeholder initiative to advance, support and communicate continuous improvement in the poultry value chain.

发布日期: 2024年3月13日

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Executive Director Insight: GHG, the SEC, and Scope 1,2,3 – What does this mean for me?
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GHG, the SEC, and Scope 1,2,3 – What does this mean for me?

Last week?the Securities and Exchange Commission passed a rule that requires companies to disclose their greenhouse gas emissions. Importantly, it omitted emissions reporting requirements for Scope 3 emissions, which are indirect emissions occurring in the supply chain before it reaches your operations (i.e., feed as it pertains to poultry and egg production). This provision was fiercely contested by farm groups and the U.S. Chamber of Commerce. But what does this all mean to us in poultry & eggs?

Many of you are already aware that these types of regulatory reporting requirements are already being pushed through California and Europe. While the ruling yesterday omitted Scope 3 emissions, regulations are quite frankly behind what's already happening in the private sector through NGO-led initiatives like the Science Based Targets Initiative (SBTi).

We had the World Resources Institute (WRI) come to our first annual meeting in 2019 and talked about how SBTi works. At that time, I made it clear to our members that this would not only affect our publicly traded members but also those selling goods to publicly traded companies. ?

As part of the SBTi's Net Zero Standard framework, companies commit to halving emissions by 2030 and getting close to zero emissions by 2050. To get there, they are required to set both near-term and long-term targets. Both may require a significant effort on Scope 3 reductions. Near-term targets set for 2030 require Scope 3 reporting if 40% of a company's emissions or greater comes from Scope 3 emissions.

If you have set or are looking into setting an SBTi, you already know this, but if you haven't – look at the major brands and retailers who have set an SBTi because it's likely going to be a question that will hit your door soon.

So what can we do about it? We are all in this boat together. Like it or hate it, this is our current operating environment, and we must adapt and find ways to continue with our businesses. We know that chicken, turkey, and eggs have fantastic messages to convey?when it comes to bringing a?low-carbon, nutritious, affordable option?for people to eat.

The next step is finding out how we can work together to meet our reporting requirements, government or customer-mandated, in a way that's science-based but not onerous. We shouldn't all be forced into figuring this out alone and the Roundtable with all of our members can work together to solve this puzzle. Our data on carbon emissions will continually improve as history shows we are always progressing our genetics, equipment, nutrition, and science.?

We have the story to tell; now, let's figure out how to tell it together in a way that works for us. - Ryan?