Combating and restricting the effects of climate change is one of the key challenges of our time. Against this background, stringent balancing of greenhouse gas emissions is increasingly important for transparent reporting and implementation of climate strategies. In addition to the Green House Gas Protocol (GHC), the three-part standard ISO 14064 is one of the standard procedures for systematic reporting and subsequent external validation. Since 2018, the English version of the three-part standard has been successively published as an amendment. Here are some important innovations:
- ISO 14064 Part 1 (Focus: quantification of emissions and reporting at organisational level):
- New approach to reporting on the limits to facilitate the inclusion and expansion of indirect emissions.
- Setting requirements and guidelines for the classification of indirect greenhouse gas emissions into five specific categories
- ISO 14064 Part 2 (Focus: quantification of emissions, monitoring and reporting at project level):
- Explanation of the additionality concept and description of the term “baseline scenario”
- The text on the Kyoto mechanism has been deleted.
- ISO 14064 Part 3 (Focus: verification and validation of reports by third parties):
- Differentiation of the processes “verification” and “validation”: while the verification focuses on checking greenhouse gas balances of past years, the validation is for evaluating the reliability of estimates of future emissions, emission reductions, etc.
- Supplementation of the “agreed-upon procedures” (AUP) method: this method can be agreed between the client and the commissioned body if, for example, full verification is not to be carried out.
A transition period is not mentioned by the ISO, the earlier versions have already been withdrawn. For companies that make use of the standards and have their balance sheets audited externally, it is particularly important to examine the extent to which the auditing process needs to be adapted.
Your contact at Arqum: Ellen Leibing