Briefing: What the Greenhouse Gases Protocol?
An international accounting technique used to track, control, and report greenhouse gas emissions are called the Greenhouse Gas Protocol (GHG) to aid firms in understanding, quantifying, and managing their GHG emissions. It is Greenhouse Gas Protocol, a joint initiative of World Resources Institute and the World Business Council for Sustainable Development (WBCSD). The protocol’s three standards—Corporate, Scope 3, and Product—offer a standardized and all-inclusive method for GHG accounting and reporting.
Organizations may calculate and report their direct and indirect emissions from their activities and value chain using the framework provided by the Corporate Standard. This comprises emissions from waste management operations, energy consumption, transportation, business travel, and travel for personal reasons. Organizations must also keep track of emissions from energy purchases, such as electricity, natural gas, landfill gas, biomass, and steam. The Corporate Standard is intended to accurately and transparently identify and quantify GHG emissions and applies to businesses of all sizes and industries.
The Scope 3 Standard assisted enterprises in quantifying and controlling the indirect emissions generated by their value chain. This encompasses all actions connected to their business operations, such as manufacturing and delivering materials, removing waste, and consuming goods and services. Organizations may find areas for improvement and reduction and understand their total GHG footprints using this standard.
The Scope 3 Standard assisted enterprises in quantifying and controlling the indirect emissions generated by their value chain. This encompasses all actions connected to their business operations, such as manufacturing and delivering materials, removing waste, and consuming goods and services. Organizations may find areas for improvement and reduction and understand their total GHG footprints using this standard.
Organizations can monitor, measure, and control their GHG emissions thanks to the GHG Protocol’s three standards. Organizations may find possibilities for improvement and reduction by using the framework to build accurate and transparent knowledge of their GHG emissions. Then, with this data, choices, plans, and objectives for reducing GHG emissions may be pursued.
Organizations that adopt the GHG Protocol must follow the rules and be open in their reporting. And they must show that the information they present is accurate and comprehensive. And businesses must make their GHG data accessible to the general public and external stakeholders, including regulators, consumers, and investors.
Organizations may analyze and control their GHG emissions, helped by the GHG Protocol. By adhering to the framework, companies may accurately and transparently identify and measure their GHG emissions, utilize this data to guide choices, and create plans to lower their GHG emissions. However, the protocol provides a framework that organizations may employ at their discretion. However, corporations may show their dedication to sustainability and environmental stewardship by implementing measures to assess and control their GHG emissions.