[CDx Launch Session Summary] Fishbowl 1: Measurement and Baselining

The session provided a primer into the measurement and baselining of corporate greenhouse gas (GHG) emissions, emphasizing the importance of accurate data as a foundation for decarbonization strategies.  

Isabella Suarez of Transition Zero highlighted the need for baselining processes designed for continuous improvement. She described it as a process with continuous improvements rather than a one-time exercise. Sanjeev Sinha from Indorama Ventures detailed the company’s evolution from consultant-led inventories to an in-house data platform involving over 2,100 people globally. Gautam Khurana, Precious Shipping stressed the importance of third-party verification, particularly for SMEs, ensuring data credibility and compliance with national standards like those in Thailand.

Discussions also addressed challenges for SMEs, which often lack resources and expertise for emissions measurement. Rob Vickers from Edgeworks emphasized the need for accessible frameworks and peer-to-peer learning, facilitated by organizations like CDx. Stakeholders agreed on the urgency of harmonizing reporting frameworks to ease complexity while aligning with demands from investors and regulators.

Key Takeaways  

• Robust Baselining as a Process: Isabella Suarez underscored the importance of a dynamic baselining system that evolves with organizational needs and regulatory demands.

• Corporate Leadership: Sanjeev Sinha showcased Indorama Ventures’ phased approach to building a comprehensive emissions inventory system, aligned with GRI standards and validated through third-party audits.

• SME Support: Gautam Khurana highlighted the critical role of third-party verification and recommended simplified approaches for SMEs embarking on their decarbonization journey.

• Framework Harmonization: Rob Vickers called for streamlining emissions reporting frameworks to reduce complexity and increase accessibility for smaller players.

• Stakeholder Influence: Investor and regulatory demands are driving transparency, requiring rigorous data validation to build trust and credibility.

• Emerging Support: Initiatives like CDx play a pivotal role in equipping businesses, including SMEs, with practical guidance and connecting them to supportive ecosystems.

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