Top 50 firm builds specialty program designed to assist suppliers in meeting the SEC’s proposed Scope 3 emissions requirements.
Atlanta, GA, April 2, 2024 — Frazier & Deeter (FD), a Top 50 accounting and advisory firm, announced today the introduction of a new service offering, Supply Chain Compliance. The service is designed to assist companies in complying with customer requests regarding decarbonization goals and related progress. Supply Chain Compliance is overseen by FD Advisory Partner James Douglas and Practice Leader Bob Woosley.
Recently, the Securities and Exchange Commission (SEC) dropped a proposed requirement for US public companies to obtain decarbonization information from their supply chain vendors, referred to as “Scope 3” information. While some may incorrectly believe the SEC’s position eliminates the impending supply chain compliance issue, FD recognizes that Scope 3 reporting requirements in California and Europe mean that thousands of public and global companies will still require supply chain emissions information. This will impact tens of thousands of mid-market suppliers in North America.
“Due to California’s law signed by Gov. Gavin Newson in 2023, large public and private companies doing business in California must now report on the carbon footprint from their supply chains; European rules require much the same,” stated James Douglas, FD Advisory Partner. “Many suppliers may find themselves ill-prepared to comply and at risk of losing their relationships with key customers. FD can help simplify the process for organizations affected by these regulatory changes.”
To assist suppliers in meeting these new emission reporting standards, FD’s Supply Chain Compliance services offer gap assessments, CO2 calculations, climate control data requests, risk management controls and compliance roadmaps tailored for suppliers.
“Trivest is proud to be known as a leading private equity source for founder and family-owned businesses since 1981,” said Troy Templeton, Managing Partner at Trivest. “We support the growth of our portfolio companies in several ways, including helping them prepare to comply with existing and emerging supply-chain requirements from their customers. We congratulate FD for the development of its supply chain compliance support program.”
“Marsh McLennan Agency Environmental (MMA Environmental) is a leading provider of environmental risk consulting services,” said Drew Flynn, President of MMA Environmental. “FD and MMA Environmental have worked together to support mutual clients who find themselves navigating new carbon emissions reporting and other ESG requests from their customers. We believe this trend will only continue, and it’s great to see FD’s leadership developing effective supply chain compliance solutions.”
To learn more about FD’s Supply Chain Compliance and other risk management offerings, contact Bob Woosley at bob.woosley@frazierdeeter.com.
View the official press release here.
About Frazier & Deeter
Frazier & Deeter is an award-winning Top 50 accounting and advisory firm that offers a full scope of tax, audit, risk advisory, digital and business transformation services. FD and its family of brands serve clients worldwide, from the Fortune Global 500 companies to growing small businesses. The firm has been recognized repeatedly as a Best of the Best Accounting firm, a Best Firm to Work For® and a Best Firm for Women in Leadership. FD is registered with the PCAOB, AICPA and IIA. The firm focuses on investing in relationships to make a difference, in addition to consistently exceeding expectations by supporting evolving needs as businesses grow.
