Your company measures its scope 1, 2, and material scope 3 emissions, according to *GHG Protocol *****guidance. Measurement is based on best available data quality, including spend-based estimations for scope 3.
Stage two companies meet 2 of 3 criteria of >$10m in revenue (USD); >$25m equity raised (USD); and/or >100 FTEs
Ensure that you’re already meeting the VCA ‘stage 1’ climate practice. Use the database below to review and select a VCA member-vetted carbon accounting SaaS vendor (or choose whomever you like)— discounts are available for VCA portfolio companies.
Baseline your emissions using the best possible data available; in the near term, spend-based estimations for scope 3 emissions are fine. Note that stage 2 is really meant to be a muscle-building exercise with the goal of increasing granularity and accuracy over time as your company also grows in scale and materiality. One you have your firm’s emissions baseline data, use that data to identify your key sources of emissions.
For companies looking to measure climate impact or ‘avoided emissions’ (i.e. scope 4) the VCA will be releasing additional member-informed guidance in mid-2025. For now, this stage just covers your firm’s carbon footprint.
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VCA Tip: Most carbon accounting vendors are well-equipped to walk your team through ‘good enough’ versus ‘best-in-class’ approaches to measuring emissions— your firm’s decision on how and when to increase granularity and accuracy will likely be informed by requirements from your customers or follow-on investors.
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