The GHG Protocol Standards that You Should Know
The need to cut down greenhouse gasses (GHG) is more important now than any other moment in the past. Indeed, the topic of sustainability is a hot potato one after the realization that the problem of global warming is a big threat to species, habitats, individuals, businesses, and governments. GHG protocol has emerged as one of the best options for measuring and managing greenhouse gas emissions.
GHG protocol classifies the greenhouse gasses into three main categories, scope 1, scope 2, and scope 3. These scopes help companies to correctly categorize their emissions and accurately calculate carbon footprints. In this post, we will take a closer look at the main standards of GHG protocol that you should know.
What is GHG Protocol?
Greenhouse Gas Protocol (GHGP) is a sustainability reporting organization that was formed in 1998 via a partnership between the World Business Council for Sustainable Development and the World Resources Institute. The protocol helps companies to cut down their greenhouse gas emissions by setting standards for managing them. To put it differently, the protocol provides guidance, tools, and training that governments and businesses need to assess and manage their emissions.
The protocol also works with industry associations, governments, NGOs and other organizations to develop comprehensive and standardized frameworks. These standards aim to provide the much-required data-driven approach to reduce global greenhouse gasses emissions.
The good thing about GHG protocol is that it can be used by both small and large organizations. So, whether you have a large pharmaceutical company or hospitality-based enterprise, know that the GHG protocol can come in handy in helping with the management and reduction of greenhouse gasses.
GHG Protocol Standards
If you are a company, country, city, institution, or other entity’s leader/ manager, and have been wondering how to set climate goals and achieve them, simply follow GHG protocol's standards. Here are the main ones that you should know:
- Corporate Standards
GHG Protocol provides Corporate Accounting and Reporting Standard, which is meant for firms preparing company-level GHG inventories. This standard gives instructions to help companies cut down emissions while increasing transparency and standardization.
- GHG Protocol for Cities
Notably, cities account for about 75% of the total greenhouse gas emissions into the atmosphere. The GHG Protocol for community-scale GHG Emission Inventories (GPC) outlines the full reporting framework that entire cities can follow to reduce their carbon footprints. The standard also helps them to benchmark through data comparison while demonstrating the role they should play in addressing the danger of global warming.
- Corporate Value Chain Standard
This standard outlines the guidelines for corporate entities to measure their greenhouse gas emissions in their entire value chain. Scope 3 emissions are often challenging for most companies to calculate and reduce because they are not under direct control. However, this standard makes it possible for companies to venture beyond their walls and influence others to also adopt sustainability and cut down their emissions.
- Project Protocol
This is a comprehensive accounting tool to assist companies to quantify different benefits that come from climate change mitigation projects. It provides methods and concepts that companies can use to report greenhouse gasses reduction achievements from their projects. Any entity, from project developers to administrators looking forward to quantifying greenhouse gas reduction and linking it with specific benefits, should use this tool.
These are some of the main standards provided under GHG protocol. Others include the product standard, policy & action standard, and migration goal standard. When you select this framework, it is also crucial to pick the right sustainability management software. The app can help you quickly gather the right data, analyze it, and create high-quality reports for stakeholders.
Visit Diginex.com for some of the best sustainability reporting software. They also have professionals who can assist you in getting the entire process of ESG sustainability reporting with GHG protocol right. Let an expert help you to realize all the benefits of adopting sustainability in company operations.