Tag: GHG Accounting

 

ISO 14064 is the acronym used to refer to a group of ISO Standards specifying the quantification, reporting, monitoring validation and verification of greenhouse gas.

Part 1 (ISO 14064-1): Specification with guidance at the organization level for quantification and reporting of greenhouse gas emissions and removals

Part 2 (ISO 14064-2): Specification with guidance at the project level for quantification, monitoring and reporting of greenhouse gas emission reductions or removal enhancements

Part 3 (ISO 16064-3): Specification with guidance for the validation and verification of greenhouse gas assertions

ISO 14064-1
The ISO 14064-1 standard (Greenhouse gases – Part 1: Specification with guidance at the organization level for quantification and reporting of greenhouse gas emissions and removals) provides guidance on the elements needed to implement an auditable GHG inventory. It offers a framework for designing, developing, managing and reporting organizational or company-level GHG inventories. It includes requirements for determining organizational boundaries, GHG emission boundaries, quantifying an organization’s GHG emissions and removals, and identifying specific company actions or activities aimed at improving GHG management. It also includes requirements and guidance on inventory quality management, reporting, internal auditing and the organization’s responsibilities in verification activities.

ISO 14064-2
The ISO 14064-2 standard (Greenhouse gases — Part 2: Specification with guidance at the project level for quantification, monitoring and reporting of greenhouse gas emission reductions or removal enhancements) specifies the principles and requirements and provides guidance at the project level for quantification, monitoring and reporting of activities intended to cause GHG emission reductions or removal enhancements. It includes requirements for planning a GHG project, identifying and selecting GHG sources, sinks and reservoirs relevant to the project and baseline scenario, monitoring, quantifying, documenting and reporting GHG project performance and managing data quality.

ISO 14064-3
The quality of data is also essential to effective emissions mitigation. To ensure that GHG emissions data is accurate and complete, a validation or verification process is carried out by an independent party to ensure quality assurance. A GHG validation/verification process will assess the following:

• accuracy and completeness of GHG data;
• reliability of procedures and controls that are in place to manage the data;
• adherence to a specific set of criteria (such as an ISO 14064 standard).

The ISO 14064-3 standard (Greenhouse gases – Part 3: Specification with guidance for the validation and verification of greenhouse gas assertions) details the principles and requirements for verifying GHG inventories, and validating or verifying GHG projects. It can be applied to entity-wide and offset project GHG quantifications. It provides requirements and guidance for those conducting GHG validations and verifications. It specifies the general requirements for selecting GHG audit team members, establishing the level of assurance, objectives, criteria and scope, determining the auditing approach, assessing GHG data, information, information systems and controls, evaluating GHG assertions, and preparing audit statements.