The impact of Scope 3 mandates are already being felt; even before the 2024 laws take effect.
Per this article, recent research shows a bold shift among SMEs, with 89% pursuing suppliers who have solid green credentials (ie, certified) and have a shared commitment to carbon neutrality.
As corporate and government initiatives pressure SMEs to commit to climate change pledges and many organizations and governments are already making it mandatory for SMEs to present verified carbon reduction plans to potential clients (ie, as these SMEs are Scope 3 vendors for their clients), SMEs are not only anticipating these requirements but are also implementing thorough ‘sustainability checks’ to identify sub-suppliers who align with their carbon neutral objectives (and help them satisfy Scope 3 mandates).
- 35% are already seeking suppliers who share their carbon neutrality values
- 23% insist on reviewing their supplier’s sustainability credentials
- 41% review their supplier’s sustainability credentials online
- 35% demand proof of certification
- 29% seek sustainability references
Given the rapid rise in global concern over climate change and the corporate and governmental mandates that are taking effect in 2024, If you think this is not going to impact your business, you are going to be in for a surprise.
If you would like to get ahead of the wave and benefit from it, watch this master class and contact us.