3Degrees, a leading global climate solutions provider and certified B Corporation has launched its new Supply Chain Emission Reduction Agreement product. This solution enables suppliers to offer products with lower emissions intensity, aiding organisations in achieving their scope 3 targets.
Initially available for food and apparel companies with North American agricultural supply chains, particularly those with Science Based Targets initiative (SBTi) goals, this approach addresses the need to reduce scope 3 emissions driven by climate risks and the desire to strengthen stakeholder relationships.
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.
Supply Chain Emission Reduction Agreements streamline and mitigate risks associated with investments in scope 3 emission reductions. 3Degrees collaborates with upstream suppliers to source, finance, and develop emission reduction projects, offering lower-emission products through a pay-for-performance model that meets downstream purchasing criteria.
“Our close collaboration with food and apparel brands has highlighted the pressing need for a simplified and de-risked approach to upstream emissions interventions. Our new service is tailored to deliver a high level of customization, paving the way for broader adoption of sustainable practices,” said John Bourne, Senior Director of Carbon Markets and Agriculture at 3Degrees.