The oil palm industry has made significant strides in ESG reporting, but addressing Scope 3 emissions and traceability remains a challenge. Recent sustainability standards and deforestation regulations have prompted companies to focus on these two critical areas in their supply chains.
Industrial supply chains are responsible for over 70% of total carbon emissions, making it imperative for companies to report on their GHG emissions. The ISSB and ESRS standards require global enterprises to account for their carbon emissions, including Scope 3. Non-compliance can result in market share loss, damage to reputation, and penalties.
The EU Deforestation Regulation mandates that companies demonstrate that their products are free from deforestation and illegal practices. Starting from December 2024, companies must trace their products back to the plantation or risk losing access to European markets. It is essential to address Scope 3 emissions and traceability together since there are overlaps across the supply chain.
To help manage these challenges in the oil palm sector, HCLTech and Eco-Business are hosting a half-day event that will bring together industry experts to share insights on data management and the benefits of using technology for Scope 3 emissions and traceability.
