When organizations account for their GHG emissions on a voluntary basis they are a step ahead of the regulatory risk, and they might benefit from financial support from their governments.
The planet's average surface temperature has risen about 2 degrees Fahrenheit (1 degree Celsius) since the late 19th century. Most of the warming occurred in the past 40 years from an increase in carbon dioxide emissions. The concentration of CO₂ in the atmosphere has increased over the past 60 years, consistent with the temperatures rising.
CO₂ is the second most abundant GHG in the atmosphere and is the primary measure of climate change due to its persistence and impact on atmospheric warming. GHG accounting is the first step in a reduction plan, ultimately leading to fighting climate change, and achieving the 1.5 °C target, the goal of the Paris Agreement.
Some of the benefits of sustainable marketing are the ability to attract new customers and keep the old ones. Multiple surveys from Forbes, IBM, Accenture and more have illustrated that consumers are making their purchasing decisions based on their beliefs, supporting products and services from companies that align with their values. Millennials in particular, the largest generation in US history, consider social responsibility and environmental friendliness when purchasing new products and services. In 2022, a report by IBM showed that 62% of the consumers surveyed (+19,000 consumers in 28 countries), were willing to change their purchasing habits to help reduce negative environmental impact. In a report about customer loyalty, the firm Annex Cloud concluded that there are three prominent roles that sustainability plays in boosting customer loyalty. It enables customers to maintain personal values, it seamlessly aligns with them, and fosters brand advocacy.
According to the Deloitte global 2022 Gen Z & Millennial survey, the workers in these groups prioritize protecting the environment when considering working for a company, and only 18% of Gen Z and 16% of Millennials believe their employers are strongly committed to fighting climate change.
Budget savings through the minimization of expenses in utility bills, as well as reduction of operational costs.
Developing a GHG accounting project offers a unique insight into the supply chain, by analyzing potential opportunities that will reduce environmental impact and general costs.