EIN Presswire | Newsmatics
Boost for chemical sector decarbonisation as initiative strengthens collaboration with WBCSD’s PACT
News provided byEIN Presswire
Sep 19, 2023, 5:28 AM ET
Global chemical initiative, TfS, strengthens its collaboration with WBCSD’s PACT to enable better exchange of Scope 3 emissions data by the chemical sector.BRUSSELS, BELGIUM, September 19, 2023/EINPresswire.com/ -- (19/09/23, Brussels): Together for Sustainability (TfS), a global initiative of 47 companies driving sustainability throughout chemical supply chains, has today joined a seminal event of New York Climate Week organised by PACT (Partnership for Carbon Transparency), a community committed to accelerating decarbonisation through enhanced emissions transparency in the value chain.
Co-ordinated by the World Business Council for Sustainable Development (WBCSD), PACT provides a forum for different sectors, organisations and regulators to standardise emissions data exchange, integrating existing standards and approaches.
This strategic collaboration will see TfS lead PACT’s liaison with the chemical industry, drawing upon TfS’ expertise on Scope 3 emissions calculation and its resources, such as the Product Carbon Footprint (PCF) Guideline, a globally recognised tool for achieving transparency and simplicity in emissions calculations for chemical raw materials. As the chemical partner, TfS will align its efforts with PACT’s overarching sustainability framework and join a network of leading organisations committed to driving sustainability transformation worldwide.
Key highlights of the partnership include:
1. Expanding PACT’s offering and scope to include the chemical sector, harnessing TfS' expertise in decarbonising chemical supply chains, including the initiative’s resources.
2. Promoting cross-industry collaboration and data exchange to engage a broader network of industries and stakeholders, streamlining efforts to address Scope 3 emissions and encourage wider participation.
3. Emphasising emissions data transparency through digital efficiency, reinforcing the importance of sharing primary data within the partnership.
Commenting on the collaboration, Alessandro Pistillo, Co-Chair of the Scope 3 Work Stream at TfS and Director of Digital Strategic Projects at BASF said, "In complex global supply chains, companies calculate and exchange product-level emissions data in different ways, and we need a common language throughout to better use this data and decarbonise”.
“The WBCSD’s PACT framework is truly instrumental in defining common carbon accounting rules and interoperable data exchange protocols, which can help meet this challenge. We are thrilled to partner with PACT and share TfS’ experience in the chemical sector with so many more practitioners from other industries. By working collaboratively, we can help to drive positive change across the chemical sector and share our standards for responsible sourcing and sustainability.”
Anna Stanley-Radière, Director, Climate Transparency & Member of the Extended Leadership Group at WBCSD added, "As the industry leader in building sustainable chemical supply chains, our close collaboration with TfS marks a significant step in creating cross-industry alignment, further strengthening our mission to reduce Scope 3 emissions in global value chains. By working together with other leading initiatives in PACT and sharing their best practices, TfS will be a key role model and enable us to foster greater transparency through standardisation. We are thrilled about the progress we have jointly made so far and look forward to working together to accelerate decarbonisation within the chemical industry and beyond."
To deepen alignment between core stakeholders in this space, PACT is bringing together its community for an inaugural in-person summit in New York during Climate Week – Scope 3 Summit – From uncertainty to impact – to explore how companies are already taking action to tackle Scope 3 emissions, reflect on the lessons learned and jointly identify ways forward.
NOTE: This content is not written by or endorsed by "KFDX/KJTL", its advertisers, or Nexstar Media Inc.