Glossary entry

Carbon Footprint Standards

Definitions

Option 1

Carbon Footprint Standards means internationally recognised standards to measure, manage and demonstrate carbon credentials covering:

organisations (including but not limited to the BEIS Voluntary Reporting Guidelines and the GHG Protocol Corporate Accounting and Reporting Standard);

projects, product and services (including but not limited to PAS 2050:2011, ISO 14001 and the GHG Protocol Product Life Cycle Accounting and Reporting Standard); and

events (including but not limited to PAS2060/ISO 20121).

Option 2 (as defined in Zoë and Bea’s Clause)

Carbon Footprint Standards means:

for Organisational Carbon Footprints and Supply Chain Carbon Footprints the GHG Protocol Corporate Accounting and Reporting Standard, [or ISO 14064]; and

for Product Carbon Footprints the GHG Protocol Product Life Cycle Accounting and Reporting Standard, or [ISO 14064].

Drafting notes

There are a variety of standards that can be used to measure an organisation’s carbon footprint. Some of the key standards are listed below:

1. 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.

2. 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.

3. BSI PAS 2050:2011: The British Standards Institution (BSI) issued PAS 2050 standard is widely used businesses to calculate the carbon emissions of goods and services.

4. 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.

5. 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.

Application

Supply chain clauses, national climate laws, government guidance.

Used in Callum & Theo’s Clause [Climate Standard Transaction Terms].