GHG Protocol or ISO 14064 for corporate accounting – Which standard should you choose?

|  August 28, 2024

🕓 Reading time 9 minutes

Table of contents

1. What is the GHG Protocol?
2. What is ISO 14064?
3. How do the GHG Protocol and ISO 14064 differ?
4. Summary: When to choose GHG Protocol and when to choose ISO 14064?

1. What is the GHG Protocol?

Origin

The Greenhouse Gas Protocol was launched in the late 1990s through a partnership between the World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD). The aim was to globally standardized framework for emissions measurement All standards are accessible free of charge and are available for download on the GHG Protocol website.

Standards

With his Corporate Accounting and Reporting Standard The GHG Protocol provides the world’s most widely used standard for greenhouse gas accounting at the corporate level. further standards and guidance, e.g. for Scope 3 Emissions added.

2. What is ISO 14064?

Origin

The ISO 14064 was developed by the International Organization for Standardization (ISO). Like all ISO standards, it is recognized and used worldwide, particularly in countries and companies that value standardized environmental management practices.

The German Institute for Standardization (DIN) has fully adopted it as a national standard and published it in German as DIN ISO 14064 published.

The standard is published by ISO and DIN expelled and stands chargeable Available digitally or as a print copy. Depending on the scope and number of licenses, each copy costs approximately €150 to €200.

Standards

The series of standards ISO 14064 1-3 consists of three main parts:

• ISO 14064-1: Specification with guidance for quantifying and reporting greenhouse gas emissions and reductions at the organizational level. The content of this standard is based on the Greenhouse Gas Protocol.
• ISO 14064-2: Specification with guidance for quantifying, monitoring and reporting greenhouse gas emissions at project level.
• ISO 14064-3: Specification with instructions for Validation and verification of greenhouse gas declarations.

For a CO₂ balance at the company level becomes mainly the first part, so the ISO 14064 1 required.

3. How do the GHG Protocol and ISO 14064 differ?

4. Summary: When to choose GHG Protocol and when to choose ISO 14064?

Select ISO 14064

If your company for specific audits must fulfill certain obligations, the ISO 14064 be the better choice. The ISO 14064-1 in combination with ISO 14064-3 is recommended in such situations, as it precise, technically detailed requirements and a structured verification process pretends.

In addition, the ISO 14064-1 seamlessly into an existing formal environmental management system, such as ISO 14001.

The ISO 14064 is mainly suitable for companies that are located in a sector are active, the strict regulatory requirements is subject to.

Choose Greenhouse Gas Protocol

The Greenhouse Gas Protocol provides a customizable methodology for capturing and reporting corporate greenhouse gas emissions. comprehensive Scope 3 accounting The GHG Protocol is particularly helpful because it provides detailed guidelines for all indirect emissions along the value chain.

The general guidelines of the GHG Protocol are generally based on the principles of relevance, completeness, consistency, transparency and accuracy. This leaves room for the Adaptation to specific company needs and individual data availability.

For those who Communication with stakeholders The GHG Protocol provides a proven and globally recognized basis. It is specifically designed for the CSRD reporting required, It is cited by many banks for their ESG score and is also suitable for voluntary reporting. It is therefore ideal for both SMEs and larger companies.

We at Green Vision Solutions are happy to support you as a medium-sized company in Corporate Carbon Footprint (CCF) according to the GHG Protocol. With our TÜV-certified solution for Scope 1, 2, and 3, getting started with your CO2 reporting is easier than ever. Get to know our solution here.