In a significant move to streamline climate action, the International Organization for Standardization, or ISO, and the Greenhouse Gas Protocol, or GHG Protocol, have announced a new strategic partnership.
The collaboration aims to unify the fragmented global landscape of greenhouse gas (GHG) measurement and reporting standards. By harmonizing their existing frameworks and co-developing new ones, the organizations seek to provide a consistent, global language for carbon accounting. This initiative is expected to simplify processes for companies, enhance data consistency for policymakers, and reduce the overall burden of reporting.
Simplifying carbon accounting for stakeholders:
The new partnership is a direct response to the complexity and inconsistency created by a multitude of standards.
Sergio Mujica, ISO Secretary-General, highlighted the shared vision of the two organizations: “to efficiently advance climate action and simplify the task for all stakeholders.” He called the partnership a “new era for the carbon accounting landscape.” The unified standards will combine existing frameworks, including ISO’s 1406X family and GHG Protocol’s Corporate Accounting and Scope 2 and Scope 3 standards, into new co-branded international standards.
Driving consistency and informed decisions:
The collaboration has been welcomed by key players in the sustainability space. Emmanuel Faber, Chair of the International Sustainability Standards Board (ISSB), said that the development will augment the globally accepted baseline for greenhouse gas accounting.
He said that consistent, comparable carbon data is essential for investors globally, enabling informed capital allocation decisions. In addition to harmonizing existing standards, the partnership will also focus on a joint product carbon footprint standard. This new standard will help companies meet the growing demand for more granular value chain data, which is crucial for guiding effective decarbonization strategies.
A commitment to long-term collaboration:
Geraldine Matchett, Steering Committee Chair, GHG Protocol, underscored the user-centric nature of the collaboration. She said that the partnership establishes a new mechanism for long-term collaboration, demonstrating our commitment to reducing complexity in the field of international standards. The ultimate goal is to enable meaningful climate action across all stakeholder groups by providing the core frameworks needed for accurate and reliable emissions reporting.
