3Degrees, a leading global climate solutions provider and certified B Corporation, announced the launch of its Supply Chain Emission Reduction Agreement product. This innovative approach empowers suppliers to deliver products with reduced emissions intensity, helping organizations hit their scope 3 goals. This solution is initially available for organizations in the food and apparel industry with North American agricultural supply chains.
Food and apparel companies, particularly those with Science Based Targets initiative (SBTi) goals, are seeking solutions to reduce their scope 3 emissions. This is driven by exposure to climate related risks and the opportunity to strengthen relationships with suppliers, customers, and other stakeholders. However, many of these companies are constrained by limited resources and levers available to create scalable outcomes.
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Supply Chain Emission Reduction Agreements simplify and de-risk investments in scope 3 emission reductions. 3Degrees partners with upstream suppliers to source, finance, and develop emissions reduction projects that deliver lower-emission products through a pay-for-performance model that aligns with downstream purchasing requirements. This service is part of 3Degrees’ commitment to providing scalable, impact-driven solutions supporting organizations in their climate journey.
“Our close collaboration with food and apparel brands has highlighted the pressing need for a simplified and de-risked approach to upstream emissions interventions,” stated John Bourne, Senior Director of Carbon Markets and Agriculture at 3Degrees. “Our new service is tailored to deliver a high level of customization, paving the way for broader adoption of sustainable practices.”
Over the last 15 years, 3Degrees has supported over 100 agricultural projects in North America, and is responsible for over 33% of all carbon credits issued from livestock projects during that time. Collaborating closely with a multitude of leading food and apparel brands, the company has gained extensive insights into the unique challenges and opportunities within this sector.
SOURCE: PRNewswire