Greenhouse gas (GHG) emissions are one of the major causes of rising global warming, and companies from the FMCG sector which account for a significant amount of the global emissions. CO2, Methane & NOx gases form a major part of greenhouse gases released from Fossil Fuels such as gas and oil. Due to rising GHG emissions from companies, it became important among major contributing sectors to report gas emissions during their operations.
Companies from the consumer sector are under increasing pressure to reduce their carbon footprint. Consumers are becoming more aware of excess carbon dioxide emissions' detrimental environmental effects. Their consumption behavior changes due to this, and they take an active interest in sustainability issues.
Spin Master Corp (Spin Master) is a global children’s entertainment company. The company offers toys and games, digital games, and kids' consumer products. It also provides entertainment and television series including preschool success, PAW patrol, and others through its platform. Spin Master market its products under Bakugan, Kinetic Sand, Air Hogs, Hatchimals, Rubik’s Cube, Gund, Bunchems, Candylocks, Coop, and others.
The total GHG emissions of Spin Master in 2021 were 51,444.5 tonnes of CO2 equivalents, an increase of 15.4% from 2020. Spin Master is funding two projects, Envira Amazonia Tropical Rainforest Conservation Project and Ranchero Wind Farm, to offset its carbon impacts.
GHG emissions are generally classified into Scope 1, 2, & 3 emissions. Scope 1 include direct GHG emissions from sources owned or controlled by the company. Scope 2 encompasses indirect GHG emissions from the on-site generation and purchase of electricity. Scope 3 involves all other indirect GHG emissions in Spin Master’s value chain including upstream and downstream activities.
In 2021, Spin Master’s Scope 1 emissions were 0.5 tonnes of CO2eq, a decrease of 50% over 2020. Scope 2 emissions of the company were 5,027 tonnes of CO2eq and accounted for 9.77% of the total GHG emissions. The company’s Scope 3 accounted for 90.23% of the total GHG emissions and were 46,417 tonnes of CO2eq in 2021.
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