Montreaux, 3 April – At the World Business Council for Sustainable Development's (WBCSD) Liaison Delegate Meeting, the largest annual gathering of over 700 representatives from WBCSD member companies, the Partnership for Carbon Transparency (PACT) organized a key session on “Tackling Upstream Scope 3 Emissions”.  

This event was the ideal venue for the soft launch of Version 3 of the PACT Standard, incorporating its methodology for product carbon footprint calculation and the technical specifications for data exchange. Set to officially launch later this month and emerging from an extensive two-year consultation with members and key stakeholders in the climate ecosystem, this updated version promises enhanced transparency, data accuracy, and feasibility.

In this dynamic session, industry leaders Dow and Syngenta shared invaluable insights into their effective implementation of supplier engagement programs and the calculation of Product Carbon Footprints (PCFs) using PACT’s methodology. Their experiences highlighted the essential role of practical solutions in managing upstream Scope 3 emissions, a critical aspect of advancing corporate climate agendas. Key takeaways focused on several themes:

Data Standardization and Data Quality

‍Participants identified widespread challenges in data access and quality. PACT’s newly harmonized approach is essential for achieving accurate and comparable PCFs. A pragmatic outlook that balances precision with practicality was emphasized across discussions.

Supplier Engagement and Collaboration

‍Effective supplier engagement remains crucial, with participants underscoring the need for clear incentives and goal prioritization. The session highlighted the power of industry collaboration as a means to overcome shared data challenges and achieve scalability. Harmonizing value chains through collaborative efforts emerged as critical.

PCF's Role and Implementation

‍PCFs were reaffirmed as a crucial element in advancing value chain decarbonization. A notable focus was on "progress over perfection, "utilizing data to facilitate informed decision-making. The PACT Methodology received recognition for offering much-needed standardization and clarity, emphasizing the need for defined objectives and effective tool deployment.

Scope 3 and Broader Considerations

‍Scope 3 emissions, especially within supply chains, present ongoing challenges. Participants stressed the importance of regulatory alignment and clear accounting for removals, highlighting the need for regional-specific approaches to these complex issues.

Future Outlook for PACT and Scope 3 Decarbonization

As PACT extends its reach, the focus in 2025 is on launching Version 3 of its Standard, facilitating implementation, and expanding PACT Network services for PCF exchange. The debut of Version 3 in April will be followed by educational initiatives and partnerships targeting service providers, and other key ecosystem players. With these efforts, PACT remains a vital force in fostering transparency and collaboration, propelling forward both regional and global decarbonization initiatives.

For more information on PACT's upcoming initiatives and launches, follow us on LinkedIn or reach out via email at pact@wbcsd.org.