Stump thinking. Or is it because today’s Friday?
To summarise the story, Brookfield claimed to be net zero because of its carbon offsetting and because of what are called its avoided emissions in its renewables business.
Avoided emissions are, of course, good things. They are what are being sought. The difficulty is that you cannot both count them once on the basis of the fact that they did not happen and then count them again as emissions avoided and so offset them against the emissions that you do make, which would seem to be what Brookfield was doing. They can only count once.
But in Sustainable Cost Accounting I am going to make everyone count their Scope 1, Scope 2 and also Scope 3 emissions. And as Scope 1 emissions are what’s in the supply chain and Scope 3 is what’s emitted by the use of the product, then that means I am double counting emissions because everyone’s use and supply is part of the next bloke’s supply chain.
But this isn’t a contradiction, no, candidly, it isn’t.