Launching PACT's 2024 Corporates Implementation Program
PACT: Companies Accelerating Efforts to Create Carbon Transparency in Their Value Chains
In response to the growing need for climate action, companies participating in the Partnership for Carbon Transparency (PACT) are making meaningful progress. In order to improve the consistency and accuracy of Scope 3 emissions data, they are addressing one of the most powerful levers to accelerate decarbonization: transparency.
With the publication of the PACT Methodology and the Technical Specifications for PCF Data Exchange in early 2023, PACT laid the groundwork for value chain carbon transparency. With these foundations in place, PACT turned its efforts to execution by developing annual Implementation Programs. These programs, tailored to participants’ needs, provide the guidance, collaborative environment and supporting materials to assist companies and their suppliers on their journey to making carbon value chain transparency a reality.
In last year’s first-ever Implementation Program, significant progress was made; eight participant companies received a Product Carbon Footprint (PCF) for more than 1,300 products in their value chains, from over 900 suppliers. These efforts revealed important insights, including a reported average variance of 37% in PCFs calculated with primary versus secondary data. These findings emphasize the need for a reliable system to ensure companies have access to supplier-specific emissions data, empowering them to implement targeted decarbonization strategies effectively.
Advancing the movement
Building on this momentum, we are proud to be publicly launching the 2024 Implementation Program, with an expanded cohort of 25 highly ambitious and committed companies, representing 10 different sectors and operations across the globe. These leading companies are joining forces with their key suppliers to advance the calculation and exchange of PCF data, which will improve transparency to stakeholders and enable targeted decarbonization of their value chains.
Additional features have been incorporated into the Program to drive transparency beyond primary suppliers. These features incentivise the use of technology solutions to unlock scalable and consistent exchange of PCFs. These additions will help enable a ripple effect, facilitating primary emissions accounting and exchange across all supply chain actors.
We would like to take this opportunity to congratulate the companies taking part in this year's program. Their dedication and innovative efforts are instrumental in advancing carbon transparency and promoting sustainability in the global business community. Their involvement reflects a shared commitment to environmental responsibility and highlights the power of collaboration in addressing pressing challenges. We look forward to celebrating their progress and milestones throughout the year.
This year’s efforts are led by 25 companies and their suppliers: ABB, Arkema, Avery Dennison Corporation, BASF SE, Bayer A.G., Chevron Corporation, Colgate-Palmolive Company, Dow Inc., DSM-Firmenich, Fujitsu Limited; Jardines Indigo Ag, LG Chem, Michelin, Novartis, OCP Group, Schneider Electric, Swire Properties, The Procter & Gamble Company, Unilever, Veolia, Yara International ASA. (+3)
Congratulations to all participating companies and their suppliers for spearheading efforts to make carbon transparency a reality!
Congratulations to all participating companies and their suppliers for spearheading efforts to make carbon transparency a reality!
