b'CASE STUDY: GILBERT + TOBINCHALLENGESSince 2017, G+T has measured and reported itsScope 3 emissions often involve complex GHG emissions through Climate Active, whichsupply chains and indirect activities. The GHG shaped the firms emissions management practicesProtocol encourages companies to adopt a over several years. In 2023, G+T began reportingcompleteness approach, requiring detailed emissions through CDP, prompting the Corporatemapping of their entire value chain. For Social Responsibility (CSR) team to focus onprofessional services firms like G+T, Scope 3 improving data quality and enhancing the firmsemissions have traditionally been defined based CDP disclosure score. This transition has introducedon activities deemed relevant under the Climate a new set of challenges and requirements,Active standard. Shifting to a completeness particularly in data assurance and emissionsapproach under the GHG Protocol requires a boundary setting, both of which are critical forsubstantial investment of time and resources to transparency and accountability under CDP. ensure an accurate and comprehensive account of Establishing a comprehensive Scope 3indirect emissions.emissions inventory presents challenges, as SOLUTIONS AND ACTIONSTo improve its CDP disclosures, G+T prioritisedHowever, CDPs emphasis on completeness data integrity, recognising the importance ofrequired a broader assessment. To achieve this, accurately representing the firms impact onthe CSR team collaborated with the finance climate for our clients. As part of this process, theteam to compile a complete dataset of the firms firm opted to obtain third-party assurance of itsvendor spend, allowing for a more thorough GHG emissions dataa step aligned with clientcalculation of Scope 3 emissions. G+T engaged expectations and increasingly common amongPurpose Bureau, an external provider, to help organisations that rely on high-quality emissionsquantify these emissions based on spend data.data for their own reporting needs. The result was a significant increase in the firms For G+Ts 2024 CDP submission, the CSR teamreported Scope 3 emissions, from 3,063.99 reviewed the firms emissions boundary in linetCO2e (using the relevance approach) to 9,164.22 with the GHG Protocol, with a focus on ScopetCO2e (using the completeness approach) for 3 emissions. Initially, G+Ts emissions boundaryFY2023. This shift reflects G+Ts commitment to was based on the relevance principle undercomprehensive and transparent reporting and the Climate Active Carbon Neutral Standard,underscores the firms dedication to rigorous focusing on emissions sources typical forclimate accountability through CDPs standards. professional services.RECOMMENDATIONSBased on our experience, reporting firmscommencement of mandatory climate reporting in should review their scope 3 boundaries andAustralia. This is particularly the case for firms that to meet the completeness requirements ofhave previously aligned with the Climate Active the GHG protocol and current stakeholderCarbon Neutral Standard. expectations, which will continue to shift with the To begin this process, we recommend the following steps:Review baseline years in line with the completeness principleRefer to the GHG Protocol to build a GHG inventory Work with experts familiar with the GHG Protocol and CDP reportingBegin planning for audit over the next 12 months19'