Five Early Steps to Prepare for Your Carbon Report
Prepare your carbon report with 5 key steps: frameworks, emissions inventory, reduction targets, and tools for sustainability success.
Ava Montini
Jan 21, 2025
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Preparing a carbon report is a powerful opportunity to align your organization with forward-thinking strategies, meet stakeholder expectations, and uncover new ways to enhance operational efficiency. As sustainability continues to shape the business landscape, reporting on carbon emissions has evolved beyond compliance to become a cornerstone of long-term value creation.
The reality is clear: over 66% of the world's largest companies now disclose climate-related data through frameworks like CDP, reflecting the growing demand for transparency. In the U.S., buildings alone account for approximately 31% of total greenhouse gas emissions, making industries like real estate and property management key players in addressing climate challenges.
While the process can seem complex, it is entirely manageable with the right approach. From understanding reporting frameworks to streamlining data collection, this journey is about building a clear, actionable plan that sets your organization up for success. By focusing on key priorities and leveraging proven strategies, you can take confident steps toward creating a carbon report that reflects your commitment to innovation and leadership.
Here's how to begin:
1. Understand the Frameworks and Requirements
Carbon reporting begins with understanding the frameworks and regulations that apply to your organization. These frameworks are essentially the rulebooks that guide how you measure, calculate, and present emissions data. Choosing the right one depends on your industry, geographic location, and specific requirements from stakeholders, investors, or regulators.
For example, the Greenhouse Gas Protocol (GHGP) is a foundational standard that categorizes emissions into three scopes: Scope 1 (direct emissions), Scope 2 (indirect emissions from purchased energy), and Scope 3 (all other indirect emissions across your value chain). Meanwhile, platforms like CDP and frameworks like TCFD focus on how companies disclose emissions to investors and other audiences.
The first step is identifying which frameworks are required or preferred for your organization. U.S.-based companies should pay particular attention to the SEC’s proposed rules for climate disclosures, which could require public companies to report more detailed emissions data. Additionally, consulting with sustainability professionals or using resources like the Greenhouse Gas Protocol’s Corporate Standard can provide clarity and structure.
Scopes 1, 2 and 3 Emissions Inventorying and Guidance | US EPA
2. Build a Comprehensive Emissions Inventory
Your emissions inventory is the foundation of your carbon report. It involves identifying and quantifying all emissions across your organization. This inventory will include direct emissions from owned assets, indirect emissions from energy use, and, if applicable, emissions from your value chain.
To start, define your organizational boundaries. Will you report emissions based on operational control (activities you oversee directly) or equity share (based on your ownership percentage)? Next, gather data from utility bills, fuel logs, procurement records, and any other relevant sources. If collecting this data feels overwhelming, prioritize high-impact emissions sources first, such as energy use or transportation, and expand from there.
Digital tools can simplify this process. Platforms like EPA’s Simplified GHG Emissions Calculator or specialized carbon accounting software can help centralize and automate data collection. Partnering with teams across your organization—such as facilities management and procurement—can also ensure data is accurate and complete.
Not all emissions are equally significant, and prioritizing high-impact areas can make your efforts more effective. By focusing on emissions sources that account for the largest share of your footprint or are most relevant to stakeholders, you can direct resources where they’ll have the greatest impact.
To prioritize effectively, consider conducting a materiality assessment. This process involves evaluating which emissions sources are most relevant to your business and stakeholders. Engaging with investors, clients, and regulators can provide additional insights into what matters most. Benchmarking your data against industry peers can also help you identify areas where your organization may be lagging or leading.
Visualizing emissions through heatmaps or similar tools can further clarify where to focus your efforts. These insights can guide decisions on upgrades, retrofits, or supply chain adjustments, ensuring your carbon reporting efforts translate into meaningful action.
Once you have a clear picture of your emissions, the next step is setting reduction targets that align with your organizational goals. These targets provide direction and accountability, signalling to stakeholders that you’re serious about sustainability.
Begin by establishing a baseline year—a starting point against which future progress will be measured. From there, set short- and long-term goals. For example, you might aim to reduce Scope 2 emissions by 25% over five years through renewable energy procurement or energy efficiency upgrades. Aligning your targets with global initiatives like the Science-Based Targets Initiative (SBTi) can further demonstrate your commitment to climate goals.
Regularly communicating progress toward these goals can help build trust with investors, tenants, and other stakeholders. Transparency about challenges and adjustments also demonstrates your commitment to continuous improvement.
Successful carbon reporting requires robust infrastructure and a knowledgeable team. Whether it’s tools for data collection or employee training, these investments can streamline the process and ensure accuracy.
Many companies start by adopting carbon accounting software, which automates data management and reporting. Platforms like Sphera, Envizi, or Ecovadis offer features that track emissions across scopes, analyze trends, and generate reports tailored to specific frameworks. For organizations with complex operations, these tools can save significant time and effort.
Equipping your team with the right expertise is equally important. Training employees on reporting frameworks, data collection methodologies, and compliance requirements can reduce reliance on external consultants over time. Partnering with third-party verification bodies can also enhance the credibility of your reports, especially if they’ll be shared with investors or regulators.
Preparing for your carbon report is about more than compliance—it’s a strategic opportunity to lead on sustainability, improve operations, and strengthen stakeholder relationships. While the process may seem complex, following these five steps will provide a clear roadmap to get started.
As you embark on this journey, remember that every organization’s path will look a little different. What matters most is taking the first step and building momentum. By investing in education, planning, and collaboration, you can turn the challenge of carbon reporting into an opportunity to create lasting value for your business and the environment.
Demystifying Indoor Air: What’s Better for You and the Planet
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Because it can’t be seen, it’s sometimes overlooked — but the importance of indoor air quality cannot be overstressed.
Blade Air and Kilmer Environmental are featured in the March 2023 edition of Innovating Canada Magazine in an article about Demystifying Indoor Air.
Kilmer Environmental and Blade work together with businesses to select the best possible product based on their needs. Science-backed IAQ solutions include UV-C technology, commercial HEPA air purifiers, electrostatic HVAC filters, zero-waste carbon filters, and more.
IAQ levels became a popular topic during the COVID-19 pandemic, which caused many to reflect on how to stay safe and healthy indoors. Driven by panic, it didn’t take long for misconceptions to arise. Many thought that to protect themselves, they needed to make a significant investment in medical-grade filters, which isn’t true. In fact, heavy-duty filters put greater strain on HVAC systems. Not only does this raise utility costs, but it also lowers the system’s life expectancy.
“You don’t have to choose — you can have both [sustainability and IAQ],”Giancarlo Sessa, Chief Strategy Officer at Blade Air.
Explore expert insights, stay up to date with industry events, and gain a deeper understanding of the cutting-edge developments that are revolutionizing the indoor air quality landscape within Blade Air's comprehensive Insights Hub.
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