CLIMATE & NET ZERO STRATEGY

Setting your climate target

We are in a race against time to take meaningful action on climate change and need to achieve global net zero emissions by 2050, at the latest, to limit global warming to 1.5°C. As a result, organizations around the world are accelerating their decarbonization plans and are actively setting climate targets, including net zero. However, there is not just one path-way to achieve a climate goal, nor is the same target and timeline right for every organization. 3Degrees works with companies around the world to understand their specific objectives, craft a climate plan that’s tailored to their needs, and support the successful implementation of that plan.

No matter where you are on your specific journey – goal setting, strategy, or implementation – or the size of your company, our team of experts is here to help you take climate action today.

TIPS FOR SETTING CREDIBLE CLIMATE TARGETS

	Set short- and long-term reduction goals across all three emissions sources (scopes 1, 2, and 3).
	Include a base year, a target year, and a clearly defined greenhouse gas (GHG) reduction target that is sufficiently ambitious to align with science.
	Short-term goals, such as near-term science-based targets, can provide immediate reductions if your organization is working toward an ultimate goal of net zero. The Science Based Target Initiative (SBTi) established criteria and a standard for setting corporate net zero goals.

	Set short- and long-term reduction goals across all three emissions sources (scopes 1, 2, and 3).
	Include a base year, a target year, and a clearly defined greenhouse gas (GHG) reduction target that is sufficiently ambitious to align with science.
	Short-term goals, such as near-term science-based targets, can provide immediate reductions if your organization is working toward an ultimate goal of net zero. The Science Based Target Initiative (SBTi) established criteria and a standard for setting corporate net zero goals.

3Degrees offers a full suite of global solutions for every stage of your decarbonization journey

BUSINESS STRATEGY INTEGRATION

Determine baseline emissions and set a goal to get your climate journey on the right track

Measurement: GHG Inventory to determine total scope 1, 2 & 3 emissions and sources
Science-Based Goal Setting: Establish best-fit goals for your organization (SBTi, RE100, or others)
Stakeholder Engagement & Business Case: Educate key stakeholders and incentivize sustainability
Implementation Planning: Determine a roadmap to put your climate plans into action
Disclosure Readiness: Check your inventory for any gaps, compare against peers, conduct climate risk analysis, and plan for climate scenarios to prepare for CDP, TCFD, and other public disclosures

OPERATIONAL REDUCTIONS

Kick off your climate plan with a roadmap that identifies, quantifies, and tracks direct and indirect emissions (scope 1 and 2 emissions)

Renewable Energy Strategy: Options, cost, risk, and pathways for achieving renewable electricity targets
Renewable Energy Procurement: RECs and other global EACs, and physical or virtual power purchase agreements (PPAs and VPPAs)
Fleet Electrification: Transportation decarbonization with EV fleet and lower carbon fuel options

VALUE CHAIN REDUCTIONS

Measure, target, and learn how to tackle the emissions that fall outside of your organization’s direct operations – scope 3 emissions – including your supply chain emissions

Scope 3 Emissions Education & Inventory: Learn everything that encapsulates scope 3 emissions and how to quantify emissions from your supply chain.
Supplier Engagement: Primary investigation, supply chain mapping, and direct supplier outreach
Supply Chain Emission Reduction Strategy: Plan and implement reductions, such as supplier renewables, product innovation, or shipping optimization

Begin your education with this guide to addressing scope 3 value chain emissions

REMAINING EMISSIONS

Address all remaining unabated emissions

Carbon Credit Strategy & Portfolio Design: Create a portfolio with a mix of avoidance and removal credits from new and existing projects
Carbon Credit Procurement: Take near-term action to address unabated emissions in operations (scope 1) and/or value chain (scope 3)
Carbon Project Development & Origination: Accelerate impact by supporting development of new carbon reduction and removal projects
Climate Claim Guidance: Review external messaging claims to ensure credibility

Our 3Degrees team can support your carbon strategy development and implementation

Carbon Market Advisory

Our carbon market consulting experts will help your organization:

Understand the dynamics of the voluntary carbon market, including the latest guidance on what constitutes a high quality credit and claim
Establish procurement priorities and evaluate associated risks
Evaluate project types and procurement structures to craft a carbon credit strategy roadmap that will meet your business and climate action needs over time

SPEAK TO A CARBON ADVISOR

ADVANCED TRAINING

3Degrees offers numerous opportunities for clients to engage in continuing education on these complex climate topics to help ensure alignment across all key stakeholders.

Scope 3 Academy: Learn all the categories that make up scope 3, the different calculation methodologies, and use cases for reductions
Energy Efficiency Academy: Become well-versed in how to reduce operational energy consumption emissions
Renewable Energy Academy: Discover the fundamentals of renewable energy and the procurement options available
Carbon Academy: Boost your knowledge of carbon with credit, removal, and project development information
Climate Action Academy: Learn more about why corporate climate work is necessary and what options are available
GHG Accounting for Financial Institutions: Advance your organization’s decarbonization goals with instruction on how to measure financed emissions in line with the Partnership for Carbon Accounting Financials (PCAF)
Target Setting for Financial Institutions: Get your financial institution’s target-setting journey on track by learning how to set credible, science-based targets using the Science-Based Targets initiative’s guidance for financial institutions
Climate Risks & Opportunities Academy: Educate cross-functional stakeholders on key climate risk terms, the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD), and drivers behind corporate action

Each of these academies can be accompanied by a benchmarking service to assess your organization’s position against that of an agreed upon selection of your peers.

WHAT IS NET ZERO?

Net zero emissions are achieved when greenhouse gas emissions in the atmosphere that are caused or influenced by people are balanced by removals over a specified period, according to the Intergovernmental Panel on Climate Change (IPCC), which also states that this balance needs to happen by 2050 on a global basis. At its core, the concept of “net zero” means a balance between what we emit into the atmosphere and what we take out.

We believe that corporations can and must play an important role in achieving a 1.5°C world. Your organization could set a goal of net zero by 2050, or set interim targets that are aligned with science such as committing to be 100% renewable by 2035, or pledge to halve emissions by 2030. With any of these options, you are taking critical steps in the fight against climate change.