ISO 14064 is an independent, voluntary greenhouse gas (GHG) project accounting standard, and is deliberately policy neutral. Whereas the GHG Project Protocol specifies tools and accounting methods, ISO 14064 simply gives general guidance; specific tools or tests can be defined by the GHG programme or regulation under which ISO 14064 is used.
The ISO 14064 standard consists of three parts. The first part (14064-1) specifies requirements for designing and developing organization or entity-level GHG inventories. The second part (14064-2) details requirements for quantifying, monitoring and reporting emission reductions and removal enhancements from GHG projects. The third part (14064-3) provides requirements and guidance for the conducting of GHG information validation and verification.
Good GHG management has become critical for organizations, as manybig MNCs are including environmental performance criteria in their procurement process. With independent GHG verification, organizations can publish credible information about their carbon footprint, carbon neutrality and/or reductions.
Also, organizations can compare themselves to their counterparts throughout the world in terms of GHG performance, potentially leveraging their exemplary GHG emission performance into a competitive advantage.