To achieve sustainable growth and ensure sustainable shareholder returns, a company must manage its carbon emissions and guard against future climate change effects. Most businesses use GHG reports or sustainability reports to track and communicate their GHG (Green House Gas) emissions. These businesses are aware of how crucial it is for conventional business practices to measure, manage, and disclose greenhouse gas emissions.

What is ISO 14064?

Part of the ISO 14000 series of international standards for environmental management is the ISO 14064 standard, offers a complementary collection of tools for programs to measure, monitor, report, and verify greenhouse gas emissions for governments, enterprises, regions, and other organizations. The ISO 14064 standard assists organizations in taking part in both mandatory and optional initiatives, such as public reporting and carbon trading schemes.

ISO 14064 consists of three parts, each with a different technical focus;

ISO 14064-1:2018 standard establishes guidelines and procedures for measuring and reporting greenhouse gas (GHG) emissions and removals at the organizational level. It contains specifications for the creation, administration, reporting, and verification of a company’s GHG inventory.

ISO 14064-2:2019 outlines guidelines and requirements to quantify, monitor, and report activities aimed at improving greenhouse gas (GHG) emission reductions or elimination, at project-level guidance. It comprises specifications for planning a GHG project, locating and choosing GHG sources, sinks, and reservoirs pertinent to the project and baseline scenario, tracking, calculating, documenting, and reporting the performance of the GHG project, and controlling data quality.

ISO 14064-3:2019 provided a guidance for individuals for conducting or managing the validation and/or verification of greenhouse gas (GHG) statements. It lays out the concepts and requirements. It can be used for organizational or GHG project quantification, as well as for GHG monitoring and reporting done in compliance with ISO 14064-1 or ISO 14064-2.

Why implement ISO 14064 for managing GHG Inventories?

Customers are increasingly interested in a company’s green credentials and use this information to make informed purchasing decisions, which an ISO 14064 certification can help with. The advantages of using ISO 14064 to handle your GHG Inventory & Verification are as follows;

• Determine the risks and possibilities associated with GHG emissions.
• Maintain consistency and transparency in your GHG quantification, monitoring, reporting, and reduction efforts.
• Gain the confidence of important stakeholders and customers.
• Implement a well-defined GHG management strategy plan.
• Monitor progress in reducing GHG emissions.
• Encourage accountability within your organization.
• Conform to the requirements of the quality management system.
• Ability to make informed decisions right away

 Who can apply for ISO 14064?

There are uses for ISO 14064 in both the public and private sectors. The standard outlines for businesses how to create an inventory that can be easily verified and compared to the inventories of other organizations.

These companies can cut costs associated with performing and confirming an inventory by using the standard as a guide. These companies can also have more faith in the inventories that are produced because the standard represents an agreement on technical GHG inventory best practices, giving these inventories more credibility with stakeholders.

For governmental organizations, ISO 14064 offers a technical framework that can serve as the basis for either voluntary or mandatory programs for performing inventories and conducting the verification. With this strategy, agencies are able to concentrate their efforts on developing additional program criteria that will help them achieve their policy goals.