Beyond the Baseline

Moving Beyond the Baseline

At this stage in your journey, you have likely built a carbon inventory and calculated Scope 1, 2, and possibly 3 emissions at least once. Great job! But once you’ve collected the data for the first time, what’s next? As you move further along in your carbon journey, it becomes critical to review your data before setting targets, dive deeper into regulatory requirements, and ensure your processes are optimized to improve data quality and set you up for assurance. Click through the resources to learn more.

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The Value of a Strong Data Foundation

Without a solid foundation of reliable data, any potential decarbonization strategy risks being ineffective or, worse, counter-productive. These steps can help investors improve the quality of carbon data.

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Understanding Carbon Data Assurance

Third-party assurance is becoming an increasingly important requirement in emerging regulations. For firms new to the process, here’s how to ensure your organization is audit-ready.

Leveraging Technology to Refine Processes

As the need for climate action grows, so does the expectation for companies to measure, manage, and reduce GHG emissions. See how technology can help improve efficiencies and data quality.

Financed Emissions

For investors, financed emissions are the most important category of Scope 3 emissions to measure, analyze, and disclose. One study estimates that the 18 largest US banks and asset managers were responsible for around 2 billion tons of carbon dioxide equivalent in 2020—or roughly a third of the US’ national GHG emissions for the same period.

Get an overview of the basics of financed emissions and how GPs across the private markets can track them.

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Listen as Steve Cain, Senior Manager of Carbon Services at Novata, breaks down financed emissions.

Regulatory Snapshot:
ESRS E1

Carbon reporting is an essential aspect of complying with the Corporate Sustainability Reporting Directive (CSRD). The European Sustainability Reporting Standards (ESRS) are a set of 12 standards that outline reporting requirements in-scope for the CSRD. ESRS E1 covers the requirements as they relate to climate change. See key learnings from a Novata analysis.

Number of disclosure requirements under
the ESRS E1 Climate Change Standard.

27%

Disclosure requirements that have
companies report Goals and Targets related
to greenhouse gas (GHG) emissions.

36%

Disclosure requirements that have
companies report a process or policy
in place related to GHG emissions.

64%

Disclosure requirements that have
companies sifting through complex
EU regulations beyond ESRS E1.

100%

Disclosure requirements that have
companies sifting through guidance from
voluntary ESG frameworks and standards.