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Challenge
RSM was approached by the firm to help them navigate the complexities of greenhouse gas (GHG) accounting and develop a decarbonisation roadmap to enhance their CDP score.
Solution
RSM’s GHG emissions calculations enabled the client to understand their carbon footprint and to make informed decisions when developing a strategy to reduce its carbon footprint.
Success
The client’s rating improved by two levels compared to the previous year, moving from ‘D’ to ‘C,’ and the improved reporting transparency has laid a foundation for the client to comply with future ESG reporting requirements.
Client overview:
RSM in Singapore’s client is a leading packaging solution and logistics provider with a global presence. Following its privatisation two years ago, the company sought to enhance its sustainability efforts, particularly in reducing its carbon footprint. As part of their commitment, the client aimed to improve its CDP (formerly Carbon Disclosure Project) score, an essential metric for measuring the management of organisations’ environmental impact.
Background:
RSM had previously assisted the organisation in preparing their sustainability report during their tenure as a listed company. Maintaining a relationship post-privatisation, RSM was approached by the firm to help them navigate the complexities of greenhouse gas (GHG) accounting and develop a decarbonisation roadmap to enhance their CDP score.
Our project objectives:
- Calculate greenhouse gas emissions across all three scopes (Scope 1, 2, and 3).
- Assist the client with their CDP questionnaire submission.
- Prepare a comprehensive sustainability report for the year.
Our approach:
RSM adopted a structured approach to achieve the project objectives:
- Kick-off workshop: RSM conducted a workshop to educate the senior management team on greenhouse gas concepts, the importance of the project, and their role in providing necessary information.
- Value chain mapping: RSM developed a detailed value chain map, capturing various business segments and geographic locations.
- Methodology implementation: RSM applied the GHG Protocol for greenhouse gas calculation and emissions inventory development.
- Active engagement: RSM actively engaged with the client’s key stakeholders throughout the project, addressing queries and clarifying doubts.
Challenges:
- Understanding and awareness: A knowledge gap existed in relation to the level of detail required to holistically map the client’s value chain, which RSM resolved through clear communication and pragmatic planning.
- Technical complexity: Complex data collection and reporting was a challenge met by RSM’s attention to detail and in-depth experience.
How success was measured:
- Active participation: Success was measured by the level of engagement from the client’s senior management and key stakeholders across different locations.
- Timely completion: While challenges such as timely access to required data had the potential to delay the project, RSM worked efficiently to deliver the project on schedule, enabling the client to meet its reporting deadlines.
Creating a unique offering:
Our RSM team’s unique value proposition lay in its ability to demystify complex sustainability concepts for the client and provide tailored guidance based on the company's diverse service offerings.
With easily digestible, yet comprehensive and effective data collection processes, RSM’s GHG emissions calculations enabled the client to understand their carbon footprint and make informed decisions when developing a strategy to reduce its carbon footprint.
Our holistic and comprehensive approach, coupled with educating senior stakeholders, along with our understanding of the CDP questionnaire and the scoring system, enabled the client to improve the transparency of its operations and the reporting of its sustainability performance. For the client’s 2023 CDP submission, its rating improved by two levels compared to the previous year: moving from ‘D’ to ‘C’. Additionally, the improved reporting transparency has laid a solid foundation for the client to comply with future ESG reporting requirements.
The RSM team in Singapore and the client continue to engage in annual sustainability reporting and ongoing initiatives, such as ESG impact analyses and Task Force on Climate-related Financial Disclosures (TCFD) workshops, reflecting the client’s commitment to long-term sustainability efforts.
