As 2024 comes to a close, we find it inspiring to reflect on the extensive knowledge shared in our webinars and masterclasses throughout the year. Covering everything from basic carbon accounting and supplier collaboration to newly enforced climate reporting and organizing eco-friendly events, this year's conversations have provided practical tools and actionable strategies to promote sustainability across various industries.
This blog offers a recap of the most valuable insights from our sessions, answers common questions, and provides a roadmap to make 2025 even more impactful. Whether you're just beginning your sustainability journey or seeking to deepen your expertise, this guide promises inspiration and actionable insights to accelerate your progress.
1. An Introduction to Carbon Accounting and Its Importance
Carbon accounting forms the foundation of any sustainability strategy. By measuring and tracking greenhouse gas emissions, businesses gain a clear understanding of their environmental footprint and can set realistic reduction goals.
Key Insights from 2024:
- Understanding Emissions Scopes: Carbon accounting consists of three scopes:
- Scope 1: Direct emissions from owned or controlled operations, like fuel usage in company vehicles.
- Scope 2: Indirect emissions from purchased energy, such as electricity used in offices.
- Scope 3: Indirect emissions across the supply chain, involving supplier activities, transportation, and even product usage emissions.
- Did you know? Scope 3 emissions can represent 70-90% of a company's carbon footprint, particularly in sectors like events or manufacturing.
- Why It’s Vital: Carbon accounting helps businesses:
- Identify areas with significant reduction potential.
- Comply with regulations, like Australia’s new climate reporting mandate commencing January 2025.
- Establish trust and credibility with stakeholders through transparency.
Answering Common Questions:
- How to begin carbon accounting? Start by focusing on the most significant emission sources: energy usage and supplier activities, then gradually refine processes with more precise data. NetNada specializes in supporting even the smallest companies to start their carbon accounting with a user-friendly platform and budget-friendly strategies. Talk to us!
- What's the difference between Carbon Neutrality and Net Zero?
- Carbon Neutrality involves offsetting all emissions, often through carbon credit purchases.
- Net Zero is more ambitious, is when a company emits no emissions. This isn't commonly found in companies as it is very difficult to achieve. Hence, sustainability goals with Net-Zero targets often have a deadline of 10+ years from now.
"The path to sustainability begins with measurement. You can't reduce what you don't measure, but progress is always possible."
Pro Tip for 2025:
Start simple, focus on material emissions, and leverage technology to streamline the process. NetNada’s carbon accounting platform can assist in automating and scaling your efforts.
2. How Can Engaging Your Supply Chain Reduce Scope 3 Emissions?
Engaging your supply chain is one of the most effective ways to reduce Scope 3 emissions. As these emissions typically comprise the majority of a company’s carbon footprint, collaboration with suppliers is crucial for achieving significant reductions.
What We Learned:
- Start with Materiality: Identify your top 20% suppliers—they usually account for 80% of your Scope 3 emissions. Prioritise your efforts here for maximum impact.
- Transparency is Key: Clearly communicate with your suppliers about the importance of carbon accounting and how their involvement supports shared sustainability goals. Utilize tools like NetNada’s Transparency Hub to facilitate better communication and data gathering. Take a tour of the Transparency Hub.
- Encouraging Participation: Suppliers may be more inclined to provide emissions data if they recognise benefits, such as enhancing competitiveness or meeting regulatory requirements.
Challenges and Solutions:
- What if my suppliers lack emissions data? Start with spend-based emissions factors for estimates. Encourage them to transition to activity-based tracking for better precision over time.
- How to engage resistant suppliers? Provide comprehensive support, like training or access to tools, and emphasise how sustainability aligns with their long-term interests.
Why It Matters:
A sustainable supply chain not only reduces emissions but also strengthens supplier relationships, boosts operational efficiency, and aligns your business with global sustainability trends.
“Engaging suppliers is about cooperation, not confrontation. Sustainability is a shared objective.”
3. Strategies to Measure and Reduce Event Emissions
The events industry contributes significantly to carbon emissions, but it also offers unique sustainability opportunities. Measuring and reducing emissions can enhance the eco-friendliness of your events while catering to the increasing demand for green practices from participants and sponsors.
“Events showcase voluntary action, and therein lies their power. Planning sustainably demonstrates potential.”
Key Emission Sources for Events:
- Venue energy consumption: Heating, cooling, and lighting heavily impact an event's carbon footprint.
- Attendee travel: Air travel, car journeys, and even public transport are key emissions contributors.
- Food and beverage: Sourcing, preparation, and waste management all have environmental impacts.
- Third-party services: Vendors, catering, and equipment providers add to Scope 3 emissions.
Practical Tips for Calculating Event Emissions:
- Define clear boundaries: Concentrate on the most significant sources, like venue energy consumption and travel.
- Use surveys: Pre-event surveys can help collect attendee travel data, often the largest emission source.
- Leverage technology: Tools like NetNada’s Event Emissions Calculator simplify tracking and analysis of emissions.
Strategies for Organizing Sustainable Events:
- Choose Green Venues: Select venues with energy-efficient systems and renewable energy sources.
- Promote Sustainable Travel: Encourage carpooling, public transit use, or virtual attendance.
- Reduce Waste: Implement recycling programs, avoid single-use plastics, and compost food waste.
- Engage Attendees: Share sustainability goals and invite participants to contribute to solutions.
4. The Impact of the Australian Mandatory Climate Reporting Law on Businesses
Beginning in January 2025, large Australian companies are required to report their Scope 1 and 2 emissions, with Scope 3 to follow. These regulations align with global standards, making it crucial for businesses to prepare now.
Key Takeaways:
- Why It’s Important:
- Compliance is mandatory for companies with 500+ employees or $500 million in revenue.
- Beyond compliance, carbon reporting enhances brand reputation and opens doors to new opportunities, like government contracts.
- Getting Ready:
- Engage suppliers to collect Scope 3 data.
- Use platforms like NetNada to automate tracking and ensure accurate reporting.
- Start early: Setting up processes early simplifies meeting deadlines.
“Reporting is not a burden—it’s a chance to demonstrate leadership and build trust with stakeholders.”
Answering Common Questions:
- Consequences of non-compliance? Penalties, reputational damage, and lost business opportunities.
- How does carbon reporting benefit my business? Beyond meeting regulations, it positions you as a sustainability leader and builds trust with stakeholders.
5. What’s Next for Sustainability in 2025?
This year’s lessons highlight the urgency of taking immediate action. As we transition into 2025, these are the key priorities for businesses:
Key Focus Areas:
- Start Early: Don’t delay for regulations. Begin measuring emissions and setting reduction targets now.
- Engage Stakeholders: Collaborate with suppliers, employees, and customers to synchronize sustainability efforts.
- Measure and Offset: Use tools to track emissions and invest in high-quality offsets for unavoidable emissions.
- Stay Informed: Keep abreast of evolving regulations and best practices to stay competitive.
Why It Matters:
Sustainability goes beyond meeting targets—it’s about fostering a better future for everyone. Acting now positions your business as a frontrunner in the transition to a low-carbon economy.
Conclusion: Looking Back to Look Ahead
2024 has been a pivotal year of growth, learning, and action. From carbon accounting to supply chain engagement to sustainable events, the insights gained are invaluable for shaping a greener future.
As we gear up for 2025, let’s commit to translating these lessons into tangible actions. Whether you're just embarking on your sustainability path or fine-tuning your strategies, there’s no better time to act. At NetNada, we're here to support you every step of the way.
Are you ready to make 2025 your most sustainable year yet? Schedule a free consultation with NetNada today and take that first step into a cleaner, greener future!
Interested to dive deeper into these insights? Explore our Knowledge Center–you'll find blogs, upcoming webinars, recorded sessions that brought you this value-packed blog.
