On December 19, 2018, ISO officially released the new version of ISO 14064-1:2018 Greenhouse gases - Part 1: Quantification and reporting of greenhouse gas emissions and removals at the organizational level with guidance.
The differences between this new version and the 2006 version are as follows:
1. Inventory and reporting boundaries:
Direct greenhouse gas emissions need to be quantified, and a documented procedure needs to be established to define indirect greenhouse gas emissions outside the organizational boundary that need to be included in the reporting boundary and inventory.
2. Quantification process:
Quantitative data are divided into primary data, site-specific data and secondary data. The quantification method must also consider technical feasibility and cost-effectiveness.
3. Add noun definition items:
a. Added a definition of indirect greenhouse gas emissions: emissions from an organization's operations and activities that are not owned or controlled by the organization (typically occurring in upstream and/or downstream chains).
b. Added definitions for biogenic material and land use.
c. Clearly distinguished between organizations, stakeholders, and verification, and explained related terms.
4. Revision of the relationship between the ISO 14060 series of greenhouse gas standards (see Table 1 for details).
5. Background information on the addition of the ISO 14060 series of standards: The ISO 14060 series of standards provides complete and consistent guidelines for quantifying, monitoring, reporting, verifying or certifying greenhouse gas emissions and removals, supporting a low-carbon economy for sustainable development and benefiting organizations, project proponents and stakeholders worldwide.
Specifically, using the ISO 14060 series:
- Improving environmental justice in greenhouse gas quantification;
- Improve the credibility, consistency and transparency of greenhouse gas quantification, monitoring, reporting, verification and validation;
- Facilitate the development and implementation of greenhouse gas management strategies and plans;
- Facilitate the development and implementation of mitigation actions through emission reduction or removal improvements;
- Facilitate the ability to track performance and progress in reducing greenhouse gas emissions and/or increasing greenhouse gas removals.
Applications of the ISO 14060 series include:
- Business decision-making, such as identifying opportunities to reduce emissions and improve profitability by reducing energy consumption;
- Risk and opportunity management, such as climate-related risks, including financial, regulatory, supply chain, product and customer, litigation, reputational risks, and its business opportunities (e.g., new markets, new business models);
- Voluntary initiatives, such as participation in voluntary greenhouse gas registries or sustainability reporting initiatives;
- Greenhouse gas markets, such as the buying and selling of greenhouse gas subsidies or credits;
- Regulatory/government greenhouse gas programs, such as credits from early action, agreements, or national and local reporting initiatives.
Source: ISO official website
