The Greenhouse Gas Protocol launched two new standards in early October 2011 which will support companies to better report on their green house gas emissions, and will drive supply chain innovations.
The first is the Corporate Value Chain (Scope 3), which links directly into company’s supply chain and is a noteworthy step for companies to capture their true GHG footprint. Beyond simply monitoring and reporting, companies will be able to pinpoint areas for operational efficiency and for reductions throughout their value chain.
“These standards are a breakthrough for business. For the first time, companies will be able to measure and manage the full scope of emissions in their value chain and products, so they can take advantage of new opportunities as they reduce greenhouse gases,” said Manish Bapna, Interim President, WRI.
Watch an introductory video here.
The second is Product Life Cycle Standards which “enables companies to measure the greenhouse gas emissions of an individual product”. This information will allow for a great deal of innovation. Companies will be able to pinpoint areas of their products which account for the greatest emissions and to directly implement changes to those processes as needed. According to the Greenhouse Gas Protocol press release, these new standards are already gaining traction.
• The Consumer Goods Forum, representing over 400 consumer goods companies and retailers with a combined 3 trillion dollars in sales, has recommended the new standards be used by members who choose to measure and report scope 3 and product greenhouse gas emissions;
• The Sustainability Consortium has adopted the Product Life Cycle Standard as the GHG methodology used in their tools to promote product sustainability; and
• The Global e-Sustainability Initiative, a consortium of leading ICT companies and other experts, are utilizing the Product Standard as the basis for developing sector guidance for ICT products and services.
This article was written by Nicole Sherwin, a CSR Analyst at EcoVadis. You can follow her on twitter @NicSherwin