Greenhouse gas (GHG) emissions are one of the main causes of rising global warming and the technology and communication industry accounts for approximately 2% to 3% of worldwide greenhouse gas emissions. A substantial amount of greenhouse gases emitted by burning oil, fossil fuels, and other sources include CO2, methane, and NOx. It has become increasingly vital for major contributing industries to record greenhouse gas emissions throughout operations, as corporate GHG emissions have increased.
GHG emissions are generally classified into Scope 1, Scope 2, and Scope 3 emissions. Scope 1 emissions are direct GHG emissions that occur from sources that are owned or controlled by the company. Scope 2 (Indirect GHG emissions) accounts for GHG emissions from the purchased or acquired electricity. Scope 3 refers to the company's other indirect emissions beyond the company’s direct operations and occur in the company’s value chain, such as the upstream transportation and distribution, business travel and purchased goods and services.
Cisco, Mitsubishi, and Nokia are large technology companies with a considerable amount of greenhouse gas emissions.
Cisco is one of the major GHG emitters with market capitalization of $180422 million. Cisco’s total GHG emissions were 75.44 million tonnes CO2 equivalents (MtCO2eq) while Scope 3 emissions accounted for 75.25 MtCO2eq which is 99.74% of Cisco’s total GHG emissions in 2021. To reduce GHG emissions, the technology company has set a goal to achieve net-zero across Scope 1, Scope 2, and Scope 3 emissions by 2040.
Mitsubishi, is one of the largest contributors to GHG emissions with market capitalization of $22022 million. In 2021, Mitsubishi’s total GHG emissions were 45.78 MtCO2eq, dominated by Scope 3 emissions, accounting for 97.72% of its total GHG emissions. The technology company commits to reduce total Scope 3 GHG emissions by 15% by 2030, compared to the base year of fiscal 2019.
Nokia is a communications and information technology company with market capitalization of $26826 million. Nokia’s overall GHG emissions in 2021 were 45.18 MtCO2eq, with Scope 3 emissions accounting for the majority. The company aims to achieve net zero GHG emissions across its value chain by 2050.
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