Presentation Abstract:
The construction industry, pivotal to global economic growth, is also a significant contribute to greenhouse gas (GHG) emissions, particularly within its extensive supply chains. This presentation aims to educate on the methodologies, monetization of carbon and the importance of measuring and managing Scope 3 carbon emissions in the construction, demolition, and renovation sectors, which are intricately linked with the Property and Casualty (P&C) insurance market.
Scope 3 emissions, representing the indirect emissions in a company's value chain, are often the largest source of GHG emissions and the hardest to control. Our discussion will focus on the challenges and strategies for quantifying these emissions and the role of ESG (Environmental, Social, and Governance) reporting solutions in achieving decarbonization goals. We will examine how precise tracking and reporting of carbon emissions are critical for companies to meet not just regulatory requirements but to drive genuine sustainability in their operations.
The session will delve into the utilization of the GHG Protocol Corporate Value Chain (Scope 3) Accounting and Reporting Standard, which is the internationally recognized framework for end-to-end GHG accounting. We will explore how this standard is applied within the Canadian context, especially following the requirements set out by the Government of Canada for FRFI reporting.
Further, the abstract will present the concept of a specialized carbon exchange tailored for the construction and insurance industry, discussing its potential impact on promoting transparency and accountability in carbon trading.
In summary, participants will gain insights into the importance of accurate GHG measurement in the construction supply chain, the complexities involved in Scope 3 emission accounting, and the emerging tools and standards shaping the future of carbon management. This educational discourse aligns with the 'Decarbonization & the Future' theme, equipping quantity surveyors and industry professionals with knowledge to drive sustainable change in their respective fields.