New reporting standard for greenhouse gas emissions

The World Resources Institute has launched the updated Greenhouse Gas Protocol Accounting Guidance for companies and governments to report their emissions from electricity used (Scope 2). The framework recommends how companies can measure and report their greenhouse gas emissions. This clarity can transform energy buying practices in the corporate world. For the first time, Guarantees of Origin, REC and I-REC are featured as instruments to document and track electricity used from renewable energy sources.

“Global Risks 2015 (by the World Economic Forum) lists failure of climate change adaptation as one of the most likely and biggest risks in 2015. The expectations and requirements for companies to address greenhouse gas emissions are increasing. But you can only change what you can measure. We are certain that in 2015 companies will increasingly document that they use electricity from renewable energy sources,” said Tom Lindberg, Managing Director, ECOHZ.

“Businesses seek validated reporting instruments. Guarantees of Origin is included by Scope 2 Accounting Guidance as a best practice tracking system of power attributes.

Guarantees of Origin reduces companies’ CO₂ footprint, increases awareness of the origin of the electricity consumed and sends a signal to the market that companies prefer electricity from renewable energy sources. Over time this documented demand for low carbon energy solutions will change energy behaviour.”

The Greenhouse Gas Protocol (GHG-P) is the most widely used international accounting framework for governments and business leaders to understand, quantify, and manage greenhouse gas emissions. The new version of the GHG-P Scope 2 Guidance provides an improved frame for businesses and governments to choose instruments to support low-carbon energy solutions. This will encourage businesses to measure, manage and report their greenhouse gas emissions from their electricity consumption and increasingly switch to power from renewable sources.

The World Resources Institute updated the GHG-P Scope 2 Accounting Guidance to respond to governments’ and businesses’ demand for a clearer framework and instruments that help map and report the origin of their electricity consumed.

The GHG-P Scope 2 categorises indirect emissions from consumption of purchased electricity, heat or steam. The document clarifies how to account for and report greenhouse gas emissions from electricity purchase and use.

Written by ECOHZ

Read the article online at: https://www.worldcement.com/europe-cis/21012015/new-reporting-standard-for-greenhouse-gas-emissions-180/