Overview: Climate action and carbon management

In November 2021, governments from across the world recommitted to the 1.5°C climate change goal at COP26 summit in Glasgow. To help prevent the worst effects of climate change, and to align with the 1.5°C climate goal, a growing number of companies are actively working to reduce their greenhouse gas (GHG) emissions, and some, are pledging to achieve net-zero emissions by 2050. The Canada Climate Law initiative estimates that Canada’s retail sector accounts for 10.5% of greenhouse gas emissions. With emerging climate policy, shifting consumer preferences, rising investor interest, rapidly changing technologies and an evolving supply chain, it is key that retailers begin taking action to mitigate greenhouse gas emissions.

Central to efforts to mitigate and manage the risks of climate change is for organizations to measure, monitor and report on greenhouse gas emissions. Good data is paramount to understanding what an organization's emission hotspots are so they can take action accordingly. Emissions inventories can be a great tool for retailers to better understand the type and quantity of greenhouse gas emissions being generated on-site and throughout supply chains.

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