Guide to Scope 3 Reporting in Commercial Real Estate
There is currently a limited understanding on the scale of scope 3 emissions in the commercial real estate (CRE) sector, as identified by UKGBC through stakeholder workshops and surveys. This is due in large part to a lack of sector-specific guidance for scope 3 reporting using the Greenhouse Gas Protocol’s Corporate Value Chain (Scope 3) Accounting and Reporting Standard.
This has led to limited scope 3 reporting and missed opportunities for driving emissions reductions. Additionally, a general lack of consistency means reporting companies may apply poor screening exercises, undertake incorrect assessments and, ultimately, under-report scope 3 emissions.
This guidance has been specifically developed to build consensus and promote common approaches to reporting scope 3 emissions. It aims to provide clarity on interpreting the Greenhouse Gas Protocol for CRE companies and enable consistency in reporting across the sector.
The guidance helps commercial real estate companies:
- Understand what scope 3 emissions means for their company (section 1)
- Identify the most material activities from their activities (section 2)
- Account for their activities accurately (section 3)
The guidance is intended to improve the accuracy and robustness of scope 3 reporting in the CRE sector by building consensus on consistent approaches. We welcome input from practitioners applying the guidance to help achieve this aim.
If you have any questions on the guidance or would like to provide feedback, please email ANZ@ukgbc.org.