What is an Accounting Standard for Carbon Footprint?
Accounting standards for carbon footprint calculation provide a standardized framework for companies and individuals to measure, report, and manage their greenhouse gas (GHG) emissions. These standards ensure that carbon accounting is accurate, consistent, transparent, and comparable across different organizations and industries.
The GHG Protocol (The Global Leader)
The Greenhouse Gas Protocol (GHG Protocol) is the most widely used international accounting tool for government and business leaders to understand, quantify, and manage greenhouse gas emissions. It provides the foundation for almost every GHG standard and program in the world.
For more information, visit the official GHG Protocol website.
- Corporate Standard: Used by companies to report their organizational emissions.
- Product Standard: Used to understand the full life cycle emissions of a product.
- Scope 1, 2, and 3: Categorizes emissions into direct, indirect energy, and other indirect emissions throughout the value chain.
ISO 14064 (International Standard)
ISO 14064 is an international standard that provides government and business leaders with a complementary set of tools for programs to quantify, monitor, report, and verify greenhouse gas emissions. While the GHG Protocol provides detailed practical guidance, ISO 14064 focuses on the requirements for quantification and reporting.
Details can be found on the official ISO website.
- ISO 14064-1: Specifies principles and requirements for quantification and reporting of GHG emissions and removals at the organization level.
- ISO 14064-2: Focuses on GHG projects or project-based activities.
- ISO 14064-3: Establishes requirements and guidance for the verification and validation of GHG assertions.