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ISO 14064

GHG Accounting

ISO 14064 specifies principles and requirements at the organization level for quantification and reporting of greenhouse gas (GHG) emissions and removals. It includes requirements for the design, development, management, reporting and verification of an organization’s GHG inventory. In parallel with the emergence of regulated or mandatory schemes relating to monitoring, reporting and verification of Greenhouse Gases (GHG), organizations outside of mandatory or regulated schemes such as the EU Emission Trading scheme or the UN CDM mechanism schemes also wish to monitor and report their emissions (commonly referred to as the organization’s carbon footprint). In order to demonstrate their corporate social responsibility (CSR) credentials.

Key benefits of GHG Accounting:

  • Enhance the environmental integrity of GHG quantification
  • Enhance the credibility, consistency and transparency of GHG quantification, monitoring and reporting, including GHG project emission reductions and removal enhancements
  • Facilitate the development and implementation of an organization's GHG management strategies and plans
  • Facilitate the development and implementation of GHG projects
  • Facilitate the ability to track performance and progress in the reduction of GHG emissions and/or increase in GHG removals
  • Facilitate the crediting and trade of GHG emission reductions or removal enhancements
  • Promote consistency, transparency and credibility in GHG quantification, monitoring, reporting and verification
  • Enable organizations’ to identify and manage GHG-related liabilities, assets and risks
  • Facilitate the trade of GHG allowances or credits
  • Demonstrate organization's competence in GHG systems - both mandatory and voluntary schemes (EU ETS, UN CDM, UK MCP, and all other international schemes).
  • Gain an important competitive edge in the expanding carbon emissions industry.
  • Enable employers to be recognized for their proactive approach to sustainability and emissions management

Fig: Relationship between PDCA and the framework of this International Standard