Cement, power, wood and paper industries use exceptionally high energy, account for 90% of direct, indirect emissions: Report
The report identifies that four sectors — Cement, Metals, Power, and Wood and Paper — account for a staggering 90 per cent of reported Scope 1 (direct emissions) and 2 emissions (indirect emissions).
The report also reveals low levels of third-party assurance on environmental metrics, with coverage ranging from 0-15 per cent for Scope 1 and 2 emissions in sectors such as Healthcare and Trade. Industries such as cement, power, and wood and paper exhibit exceptionally high energy consumption, while the hospitality sector reports substantial water usage, shows BRSR Barometer 2023 report which highlights a pressing need for tailored sustainability strategies.
The report, launched by ECube and StepChange, synthesises insights from over 1,000 Business Responsibility and Sustainability Reports (BRSR), covering more than 50 Environmental, Social, and Governance (ESG) metrics across 13 sectors for the fiscal year 2023.
The report identifies that four sectors — cement, metals, power, and wood and paper — account for a staggering 90 per cent of reported Scope 1 (direct emissions) and 2 emissions (indirect emissions). Furthermore, there is a concerning underreporting of Scope 3 emissions, with only 223 companies providing relevant data last year in eight sectors (Automotive, Chemicals, Construction, Financial Institutions, Other Manufacturing, Trade, Transportation & Logistics, Water & Waste). In many sectors, over 80 per cent of greenhouse gas emissions are classified as Scope 3, highlighting the need for comprehensive reduction strategies throughout value chains.
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