Definition 1
Carbon Footprint Standards means internationally recognised standards to measure, manage and demonstrate low carbon credentials covering:
(a) the Company and its supply [and value] chains, in particular [the Streamlined Energy and Carbon Reporting (SECR) regulations OR Sustainability Reporting Guidance (SRG)]* [GHG Protocol Corporate Accounting and Reporting Standard] [ISO 14064]);
(b) projects, products and services, in particular] [ISO 14001] [ISO 14064] [GHG Protocol Product Life Cycle Accounting and Reporting Standard] [ISO 14067] [ISO 14068] [ISO14065] [ISO14040/14044]; and
(c) events, particularly [ISO 20121],
as updated or replaced from time to time.
*[Drafting note: the SECR framework is a mandatory requirement for large UK companies and LLPs. For other companies the SRG is more appropriate.]
Drafting notes and guidance
There are a variety of standards that can be used to measure an organisation’s carbon footprint. Some of the key standards as of the publishing date [above] are listed below as well as in TCLP’s glossary term Environmental Performance.
The World Resources Institute (WRI) and World Business Council for Sustainable Development (WBCSD) GHG Protocol Standards
These are globally recognised frameworks to track, measure and manage Greenhouse Gas (GHG) emissions from private and public sector operations, value chains and mitigation actions. They include the Corporate Accounting and Reporting Standard and the Product Life Cycle Accounting and Reporting Standard.
The International Organisation of Standardisation (ISO)
The ISO14000 series of environmental management standards are intended to assist organisations in managing their environmental impact. They include:
- ISO 14001, which allows organisations to demonstrate that their environmental impact is being measured and improved.
- ISO 14064, which allows programmes to measure, quantify and reduce GHG emissions and removals and to achieve carbon neutrality.
- ISO 50001, which is an energy management system to help companies become more energy efficient.
The Global Reporting Initiative (GRI) Sustainability Reporting Standards
GRI is an international standards body convened by Ceres, a non-profit coalition of investor, environmental, and social justice groups. The Sustainability Reporting Standards are a set of standards for sustainability reporting (including environmental and climate change reporting) to enable corporations to measure and understand their impacts on the environment, society and the economy.
The Carbon Footprint Standards
This draws together the leading standards to create a unified standard in assessing, reporting and offsetting emissions to enable businesses to promote their low carbon credentials.
[Relevant reporting frameworks:
- Carbon Disclosure Project (CDP): For organisational GHG reporting. Aligns with GHG protocol and ISO14064.
- Science Based Targets Initiative (SBTi): Target setting and emissions reporting.
- EU Corporate Sustainability Reporting Directive: Reporting for EU based organisations. Aligns with GHG protocol and ISO standards.]