Definition 1
GHG Reporting means reporting all the following metrics [monthly OR quarterly OR annually] in a written report [prepared OR validated by an independent expert] [and published in the Company’s financial disclosures OR annual report OR submitted to the Lender OR Licensor OR Competent Authority]. The metrics are:
(a) the Company and its Affiliates’ Scope 1, 2 and 3 Emissions calculated in accordance with [the GHG Protocol OR The Greenhouse Gas Protocol – A Corporate Accounting and Reporting Standard OR the Global Reporting Initiative (GRI) Standards (305)];
(b) the Company and its Affiliates’ Scope 1, 2 and 3 Emissions measured in tonnes of Carbon Dioxide Equivalent and calculated in accordance with [the IPCC Sixth Assessment Report Global Warming Potential Values OR insert latest IPCC assessment report];
(c) a comparison of the Company and its Affiliates’ current emissions data against the Base Year;
(d) an intensity metric expressing the Company and its Affiliates’ total Scope 1, 2 and 3 Emissions per [employee OR product sold OR sales revenue] will be calculated in accordance with [The GHG Protocol Technical Guidance for Calculating Scope 3 Emissions OR insert name of latest relevant technical guidance];
(e) a description of any energy-efficiency and emissions-abatement measures implemented during the period; and
(f) a description of the methodologies used to calculate the metrics set out above.
Definition 2
GHG Reporting means information on an organisation’s Scope 1, 2 and 3 Emissions in tonnes of Carbon Dioxide Equivalent (C02e or C02eq) to a standard not less than that required by [the UK Government’s Streamlined Energy and Carbon Reporting (SECR)].
Definition 3
GHG Reporting Standard means a standard for measuring[, reporting] and managing Greenhouse Gas Emissions published by [the GHG Protocol OR the International Organization for Standardization OR the BSI Group].
Drafting notes and guidance
Option 1
The definition provides:
(a) an extensive list of metrics that can be included in any requirement for carbon reporting; and
(b) guidance on how they are calculated.
The definition includes a number of options for how and when to report which contract parties can adapt as appropriate to their contract.
If using this definition, consider also defining the terms ‘independent expert’, and ‘current emissions data’.
Option 3
TCLP’s glossary term Greenhouse Gas Emissions (options 2 and 3) refer to scope 1, 2 and 3 emissions as defined in the GHG Protocol.
The definition includes an option to include reporting for parties who require reporting in addition to measuring and managing GHG emissions.
Corporate annual reporting
GHG reporting currently forms a part of companies’ annual reports. It may also be implemented for internal reporting (including through group company structures and supply chains), and/or submissions to certain authorities or regulatory bodies.