What you need to know before emissions regulators come knocking | Computer Weekly

"The International Financial Reporting Standards (IFRS) have incorporated climate-related financial disclosure requirements, including obligations to inventory and report Scope 1, 2, and 3 emissions."

"Emissions reporting is subject to strict accounting and audit requirements, with fines and reputational risk for those firms whose reporting does not comply with the applicable standards."

"Cloud service providers have significantly improved their emissions dashboards over the past several years, allocating Scope 1, location- and market-based Scope 2, and limited Scope 3 emissions."

"Oracle is the only cloud provider that does not report Scope 1 emissions, which typically account for less than 1% of a data centre's Scope 1 and Scope 2 operating emissions."

Global regulatory requirements for IT infrastructure carbon emissions reporting are emerging, driven by the IFRS's climate-related financial disclosure mandates. Countries like Australia, Brazil, and the UK have enacted these standards, though some have minimized Scope 3 reporting. Compliance involves strict accounting and audit processes, with penalties for non-compliance. IT infrastructure emissions often represent a significant portion of total emissions for companies. Cloud service providers have enhanced emissions reporting capabilities, offering data to help meet regulatory obligations, although Oracle does not report Scope 1 emissions.

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