Greenhouse Gas Accounting (ISO 14064)

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 program 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 many big 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.

Why ISO 14064 Certification?

ISO 14064 Certification can help an organization improve overall performance in Carbon reduction commitment and enhance credibility by demonstrating environmental responsibility. Organizations with this certification system demonstrate a commitment to quality for all stakeholders.Some of the benefits foreseen are:

  • Helps in managing carbon risk exposure and identify areas of improvement.
  • Improves efficiency and provides financial benefits through reduced energy consumption.
  • Provides motivation in involving more carbon reduction plans.