GHG Protocol and ISO Consolidate Carbon Accounting Standards to Boost Global Decarbonization
The Greenhouse Gas Protocol (GHGP) and the International Organization for Standardization (ISO) have announced a consolidation of their carbon accounting standards. This initiative aims to create a single, harmonized global standard for greenhouse gas accounting, integrating GHGP's Scope 1, Scope 2, Scope 3, and Actions and Market Instruments (AMI) standards with ISO's 14064-1 standard. The consolidation is part of the COP30 Action Agenda and seeks to simplify reporting, reduce duplication, and enhance consistency across markets. The new 'multi-statement' reporting approach will allow companies to report emissions from their operations, market-based emissions, and the emissions impact of their actions and investment decisions. This development is expected to unlock greater investment and accelerate global decarbonization efforts.