GHG Protocol, a leading authority on greenhouse gas (GHG) accounting, is currently in the process of updating its corporate standards and guidance. These updates aim to provide businesses with an effective and credible accounting foundation to measure, plan, and track progress toward science-based and net-zero targets. In this article, we address some frequently asked questions about the GHG Protocol standards update process.
Between November 2022 and March 2023, GHG Protocol sought public feedback on the existing suite of corporate standards and guidance. The process covering the Corporate Standard, Scope 2 Guidance, Scope 3 Standard, and supporting documents. Now, GHG Protocol is restructuring its governance process to ensure transparency and accountability in the standards update process. Technical working groups specific to each standard update workstream will be formed by Fall 2023.
GHG Protocol Standards Update Current Status and Timeline
GHG Protocol’s secretariat is currently reviewing and analyzing the survey submissions and proposals, developing workplans for each survey workstream. The official start of the standards update process will align with the planned governance restructuring. Drafts of revised text are expected to be released in 2024, with final standards and guidance anticipated in 2025.
Implementation of Updates
Once GHG Protocol releases revised standards and guidance, they will be immediately available on their webpage for public use. The decision regarding a transition period for adopting the revised standards will be made by GHG Protocol’s governance bodies.
Greenhouse gas disclosure and target-setting programs may also address this issue as they update their program rules. Until communicated otherwise, the existing GHG Protocol standards and guidance remain in effect.
Sustainable Scenario
At Sustainable Scenario, we prioritize accuracy and compliance with the most up-to-date standards in all our reporting services. With our expertise and dedication to following the most current standards, our clients can have confidence in the accuracy and integrity of the data we provide, enabling them to make informed decisions and take meaningful action towards reducing their environmental impact.