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Green House Gas Emission – Reporting Standards
Green House Gas Emission – Reporting Standards
Green House Gas Emission – Reporting Standards
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Green House Gas Emission – Reporting Standards

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In its Third Assessment Report (TAR), the Intergovernmental Panel on Climate Change concludes that human activities are the main contributors to global warming. Each nation is adopting measures to …

In its Third Assessment Report (TAR), the Intergovernmental Panel on Climate Change concludes that human activities are the main contributors to global warming. Each nation is adopting measures to combat issues related to climate change. Global initiatives have been taken up by governments and companies to reduce the impact of their operations on the environment. To help these organizations better understand their carbon footprint, reporting systems for greenhouse gas (GHG) emissions were created. GHG emissions are disclosed either through regulated schemes or through voluntary reporting.

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  • 1. INTRODUCTIONIn its Third Assessment Report (TAR), the Intergovernmental Panel on Climate Change concludesthat human activities are the main contributors to global warming. Each nation is adopting measuresto combat issues related to climate change. Global initiatives have been taken up by governments andcompanies to reduce the impact of their operations on the environment. To help these organizationsbetter understand their carbon footprint, reporting systems for greenhouse gas (GHG) emissions werecreated. GHG emissions are disclosed either through regulated schemes or through voluntary reporting.Green House Gas Emissions – ReportingStandardsJANUARY | 20111Copyright © Beroe Inc, 2010. All Rights Reserved
  • 2. DRIVERS FOR CHANGEThe key drivers of change and reporting are:} Consumer and investor pressure to know the impactof the organization and products on the environment} Supply chain pressure from the many retailers whohave recently been seeking information from suppliers} Government pressure through legislation, reportingschemes, and cap and trade schemes} Opportunities arising from carbon trading andcompetitive advantagesSTANDARDS AND METHODOLOGIESThe various standards and methodologies for greenhousegas emissions reporting are:Standards for organizational inventories are designedto help companies measure emissions from activitiesunder the control of the organization. They include:} ISO 14064-1 – specifies the requirements fordesigning and developing organization or entity-levelGHG inventories.} GHG Protocol – a corporate accounting andreporting standard developed by the World BusinessCouncil for Sustainable Development (WBCSD) andWorld Resources Institute (WRI). It has five inventorytools that can be used for reporting.Projects} ISO 14064-2 – provides the requirements forquantifying, monitoring, and reporting emissionreductions and removal enhancements from GHGprojects.} ISO 14064-3 – outlines the requirements and providesguidance for conducting GHG information validationand verification.Carbon Footprints of Products} PAS 2050 is a publicly available standard thatspecifies an approach for companies to assess theGHG emissions life cycle of products and services.PAS 2050 was developed in consultation with DEFRAand Carbon Trust in the UK and was published by BSIin October 2008. The PAS is open to all companiesfor any product or service. The use of the standardis voluntary. PAS 2050 is under review and is due forrevision by 2010.} WRIProductLifeCycleAccountingandReportingStandard (2010): The Product Accounting andReporting Standard and the Corporate Value Chain(Scope 3) Accounting and Reporting Standardsupplement the existing Corporate Accounting andReporting Standard, which has become the globalframework for GHG reporting by companies. The newstandards are a part of a multi-stakeholder 12-yearpartnership known as the GHG Protocol Initiative.The WRI and WBCSD are leading this initiative toprovide real-world solutions to help reduce emissions.} ISO 14067 – Product Life Cycle GHG Emissions(2011) is a new standard for the carbon footprints ofproducts. It is expected to be published by March 2011.This standard is intended to facilitate the quantificationand communication of GHG emissions associated withgoods and services. The standard builds largely on theexisting ISO standards for life cycle assessments (ISO14040/44) and environmental labels and declarations(ISO 14025). In comparison to existing LCA standards,however, it contains additional provisions for theRegulatory Schemes – The European Union (EU)Emissions Trading Scheme is a regulatory scheme forgreenhouse gas emissions. According to this scheme,large emitters of carbon dioxide within the EU mustmonitor and annually report their CO2 emissions.In addition, they are required to return an amountof emission allowances to the government that isequivalent to their CO2 emissions for the current year.2Copyright © Beroe Inc, 2010. All Rights Reserved2007 2008 2009 2010 2011 2012PAS 2050 ReviewWRI/WBCSDISO 14067HISTORY OF PRODUCT CARBON FOOTPRINT STANDARDS
  • 3. 3Copyright © Beroe Inc, 2010. All Rights ReservedRegulatory Schemes – The European Union (EU) Emissions Trading Scheme is a regulatory scheme for greenhouse gasemissions. According to this scheme, large emitters of carbon dioxide within the EU must monitor and annually reporttheir CO2 emissions. In addition, they are required to return an amount of emission allowances to the government thatis equivalent to their CO2 emissions for the current year.Country Specific Schemes, Standards, and GuidanceBASIC ACCOUTING PRINCIPLESOf all standards and methodologies for GHG emissions reporting, the five key accounting principles to be followed are:Relevance – Appropriate selection of GHG boundary sources, data, and methodologiesCompleteness – Inclusion of all emission sourcesConsistency – Consistency of accounting approaches, inventory boundary, and calculation methodologiesAccuracy – Reduce biases and uncertainties to the greatest extent possibleTransparency – Disclose sufficient and appropriate GHG-related information to help intended users make decisionswith reasonable confidenceConclusionGHG reporting is increasing as numerous standards are being developed, thereby helping governments and companiesreduce emissions and mitigate carbon related risks.Future Developments:} New reporting initiatives created by governments and corporations} Cap and trade schemes} Increased stakeholder pressure for voluntary reportingThese standards help firms measure, report, and reduce emissions and provide insight and assurance to stakeholdersthat declarations are validDisclaimer : Strictly no photocopying or redistribution is allowed without prior written consent from Beroe Inc. The information contained inthis publication was derived from carefully selected sources. Any opinions expressed reflect the current judgment of the author and are subjectto change without notice. Beroe Inc accepts no responsibility for any liability arising from use of this document or its contents.For more information, please contact info@beroe-inc.com.Author:R. Gurunath | Senior Manager - Green

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