As organizations increasingly recognize the importance of managing and reducing their carbon footprint, internal GHG Emissions Audit and Verification play a vital role in ensuring the accuracy, transparency, and credibility of emissions data.
Leading the Way
GHG Emissions Audit and Verification refers to the systematic and independent examination of an organization’s emissions inventory, calculation methodologies, and data management processes. The primary objective is to assess compliance with relevant standards, regulations, and internal policies, while also identifying areas for improvement and risk mitigation.
Going to Work for You
The internal GHG Emissions Audit and Verification process typically involves a comprehensive review of documentation, data collection methods, and emission factor calculations. Trained auditors evaluate the accuracy and completeness of emissions data, ensuring that it aligns with recognized protocols such as the ISO 14064-3 Standard.
Rationalities
GHG Emissions Audit and Verification may be pursued by an organization for a number of reasons such as:
- Identify potential errors, data gaps, and inconsistencies in emissions reporting, allowing for corrective actions to be implemented
- Enhances internal controls, ensuring data integrity and improving overall data management practices.
- Provide assurance to stakeholders, such as investors, customers, and regulatory bodies, that the organization is taking emissions management seriously.
- Increase the credibility of sustainability reports that the firm communicates to its stakeholders.
External GHG emissions audit and verification involve independent third-party entities assessing an organization’s emissions data, while internal audit and verification are conducted by individuals or teams within the organization to evaluate and ensure compliance with internal standards and policies.
A third-party GHG emissions assessment is an independent evaluation conducted by an external entity to verify and assess an organization’s greenhouse gas emissions. It ensures objectivity, credibility, and compliance with relevant standards, regulations, and reporting requirements.
- Audit – the general process of reviewing an inventory.
- Verification – Process for evaluating a statement of historical data and information to determine if the statement is materially correct and conforms to criteria. In other words, it is the process of a GHG Inventory assurance.
- Validation – Process of evaluating the reasonableness of the assumptions, limitations, and methods that support a statement about the outcome of future activities (Refers to GHG Projects).
- Assurance – The outcome of either verification or validation that states a third-party auditor is confident that a GHG inventory (verification) or emissions reduction project (validation & verification) is accurate and complete to an acceptable degree of certainty.
Limited Assurance – Level of assurance where the nature and extent of the verification activities have been designed to provide a reduced level of assurance on historical data and information.
Reasonable assurance – Level of assurance where the nature and extent of the verification activities have been designed to provide a high but not absolute level of assurance on historical data and information.
Limited assurance is less costly, and this is the most common type of assurance that large companies use to voluntarily disclose carbon emissions data to the intended users and the public.
ILDAR USMANOV
PROJECT DIRECTOR
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