Roundtable event- Scope 3 – Using ‘Green Parts’ in Insurance repair Supply Chains – Thursday October 12th 1pm to 2pm
Due to additional interest Procurato are holding a second session of our Roundtable – Scope 3 emissions and Using Green Parts in Insurance repair Supply Chains.
See the summary video for the first event below
Could you be capitalising on Insurance Scope 3 reporting benefits by getting your repairers to use ‘Green Parts’?
Scope 3 emissions account for 70% of carbon footprint of many insurers.
Scope 3 requires reporting on emissions for goods, which includes parts to repair vehicles.
The sourcing (purchase and transportation) of new parts for automotive repairs is a major contributor to an Insurer’s Scope 3 (indirect) upstream emissions.
But by (re)using reclaimed, or ‘green’, parts you could significantly reduce your impact. (+ Green parts can slash costs by up to 50% compared to new parts!)
This is backed up In a recent article: “Reclaimed parts driving motor insurance profitability” – Insurance Post – which refers to reductions in CO2 by using Green Parts.
Even so, the reality of ‘going green’ isn’t always straightforward.
Procurato commissioned an academic research paper earlier this year – Overcoming obstacles: establishing effective strategies and solutions to reduce carbon emissions in the UK automotive supply chain. – and the final paper is now complete.
As part of the results reveal we are holding a second roundtable – ‘Scope 3 Emissions in the Insurance automotive repair supply chain’ on Thursday October 12th between 1pm and 2pm.
Related reading
The Scope 3 question for motor insurers sits within a broader sustainability challenge facing financial services supply chains, one that goes well beyond automotive repair parts into how insurers govern, measure and reduce indirect emissions across all their supplier relationships. Understanding the full landscape of carbon reduction obligations in financial services, and where the most material opportunities and reporting requirements sit, provides useful context for any insurer building a response to the specific repair supply chain emissions discussed in this roundtable. How financial services organisations are addressing carbon emissions across their supply chains covers that broader picture and is a practical companion to the green parts discussion here.
How Procurato can help
Reducing Scope 3 emissions in a repair supply chain is ultimately a sourcing and supplier governance challenge; it requires changing what is specified, how suppliers are selected and what performance standards are embedded in commercial agreements. Procurato’s Sustainable Procurement across the Supply Chain service helps organisations build sustainability into their procurement and supplier management frameworks, designing the commercial and governance structures that make green parts adoption, carbon reporting and supply chain emissions reduction operationally achievable rather than aspirational. If your organisation is working through how to act on Scope 3 obligations in your repair supply chain, we would welcome a conversation.
Stay Ahead in Insurance
Join our newsletter for insights on claims innovation, operational efficiency and market trends for insurance leaders.
