The GHG Protocol Corporate Accounting and Reporting Standard provides requirements and guidance for companies and other organizations preparing a GHG emissions inventory. It was designed with the following objectives in mind:
The module builds on the experience and knowledge of over 350 leading experts drawn from businesses, NGOs, governments and accounting associations. It has been road-tested by over 30 companies in nine countries.
This standard is written primarily from the perspective of a business developing a GHG inventory. However, it applies equally to other types of organizations with operations that give rise to GHG emissions, e.g., NGOs, government agencies, and universities. It should not be used to quantify the reductions associated with GHG mitigation projects for use as offsets or credits; the GHG Protocol for Project Accounting provides requirements and guidance for this purpose. Policy makers and architects of GHG programs can also use relevant parts of this standard as a basis for their own accounting and reporting requirements.
The GHG Protocol Corporate Standard has been designed to be program or policy neutral. However, it is compatible with most existing GHG programs and their own accounting and reporting requirements. It is important to distinguish between the GHG Protocol Corporate Standard from other GHG programs. This standard focuses only on the accounting and reporting of emissions, but does not require emissions information to be reported to WRI or WBCSD. In addition, while this standard is designed to develop a verifiable inventory, it does not provide a standard for how the verification process should be conducted.
To complement the standard and guidance provided here, a number of cross-sector and sector-specific calculation tools are available. These tools provide step-by-step guidance and electronic worksheets to help users calculate GHG emissions from specific sources or industries.
In 2016, 92% of Fortune 500 companies responding to the CDP used GHG Protocol directly or indirectly through a program based on GHG Protocol. It provides the accounting platform for virtually every corporate GHG reporting program in the world.
Cold-water laundry detergents, fuel-saving tires, energy-efficient ball bearings, emissions-saving data centers. Corporations are increasingly claiming that their goods and services reduce emissions. But there is a big problem: These avoided emissions claims are often unverifiable or inaccurate.
Corporate Accountability spends more than 90 percent of all contributions directly on programs, while less than 10 percent provide essential support services, resulting in the highest marks from rating agencies.
In the decades since, we have won victories that save lives and change them for the better by shifting power away from corporations and back to people. We amplify the voices of communities from Pittsburgh, Pennsylvania to Lagos, Nigeria. And we make sure our voices reverberate in the ears of decision-makers from the halls of the U.N. to corporate boardrooms. We are building a world where we all can thrive, and the need for this work is greater than ever.
To help meet your needs, we combine our presence in key financial centers and strong industry/sector knowledge with our established track record handling cross border multijurisdictional transactions and connecting work between mature and emerging markets.
We provide you with high-level sector capabilities, including one of the most renowned energy teams in the world and unparalleled strength in mining, technology, manufacturing, financial services, real estate, health care, private equity and industrials.
New Zealand: The Customer and Product Data Bill was introduced to Parliament on 16 May 2024 and is set to undergo its first reading. The introduction to the House follows a round of consultation undertaken by MBIE in June last year.
Parties negotiating contracts frequently litigate whether they have a binding agreement. This guide provides advice to clients negotiating contracts to help you minimize the risk of disputes, in addition to highlighting actions or inactions that could put you at risk of inadvertently entering into an agreement.
Canada: In the summer of 2022, the TSX Venture Exchange (TSXV) introduced the Venture Forward initiative, providing an alternative listing path for unconventional businesses and creative transaction models. This effort by the TSXV aims to tackle prevalent capital access obstacles while accessing new options for emerging capital market participants. On May 13, 2024, the TSXV announced the debut of the Sandbox platform (Sandbox).
Canada: Please join us as we discuss risks and key issues in going private transactions, including a look at market trends and opportunities with private and public companies, key deal considerations, risks, and other critical issues to be aware, including tipping obligations, secondary market liability and shareholder risks.
ESG continues to remain in focus for leading corporate actors in Canada and across the globe. What was once a set of best practices has evolved into a multifaceted series of obligations and reporting requirements constituting real matters of risk and compliance for organizations. What is next on the ESG horizon?
This workshop is designed to give leadership and senior stakeholders practical, hands-on experience dealing with an ESG crisis. You will be given the opportunity to strategize with peers from across multiple industries.
The Corporate Climate Responsibility Monitor, conducted by NewClimate Institute in collaboration with Carbon Market Watch, assesses the climate strategies of 25 major global companies. It critically analyses the extent to which they demonstrate corporate climate leadership.
The Corporate Climate Responsibility Monitor focuses on four main areas of corporate climate action: tracking and disclosure of emissions, setting emission reduction targets, reducing own emissions and taking responsibility for unabated emissions through climate contributions or offsetting. Finally, it evaluates 25 major global companies' transparency and integrity across these four areas.
The 25 companies assessed in this report are major multinational companies. Their total self-reported GHG emission footprint in 2019 amount to approximately 2.7 GtCO2e. This is equivalent to roughly 5% of global GHG emissions.
Targets for 2030 fall well short of the ambition required to align with the internationally agreed goals of the Paris Agreement and avoid the most damaging effects of climate change. Among the companies we assessed, 15 of the 25 prominently report interim climate targets. However, our analysis finds that the average emission reduction commitment of full value chain emissions between 2019 and 2030 is just 23%.
A few companies demonstrate leadership with higher quality and innovative approaches for sourcing renewable electricity, but the overall integrity of renewable electricity procurement remains low.
Most companies assessed in this report use unbundled renewable energy certificates (RECs) to claim their energy use has limited, or no, climate impact, i.e. they source their electricity from the local regional or national grid, and in addition purchase certificates from renewable energy producers in potentially different locations. Companies use RECs to claim the reduction of their electricity-related emissions, despite the significant limitations of this construct. There are promising signs that companies are starting to understand the nuances of renewable electricity quality, as 6 out of the 25 analysed companies source the majority of their electricity from higher quality power purchase agreements (PPAs) and own-generation. Beyond this, some companies are innovating to find new ways to further improve the integrity of renewable energy procurement.
Mitigation of climate change depends on innovation; companies have, and will continue, to play a central role in finding and scaling up solutions for deep decarbonisation. These efforts need urgent acceleration. The findings of this report indicate that regulators should not rely on consumer and shareholder pressure to drive corporate action. Companies must be subject to intense scrutiny to confirm whether their pledges and claims are credible, and should be made accountable in the case that they are not. Truly ambitious corporate actors can be supported by introducing stronger regulation that levels the playing field by ensuring that those ambitious actors are not at an economic disadvantage compared to their less ambitious peers. Regulators and standard-setting initiatives must find ways to distinguish and segregate climate leadership from greenwashing, to support ambitious actors to innovate and accelerate decarbonisation.
Covington & Burling LLP operates as a limited liability partnership worldwide, with the practice in England and Wales conducted by an affiliated limited liability multinational partnership, Covington & Burling LLP, which is formed under the laws of the State of Delaware in the United States and authorized and regulated by the Solicitors Regulation Authority with registration number 77071..
Covington's corporate practice covers a broad range of transactional and advisory work on behalf of public and private companies, financial institutions, private equity and venture capital funds and sponsors, sports franchises, and corporate boards.
Ranked among the leading corporate practices by Chambers, and Legal 500, we are also recognized for advising clients in regulated industries, including life sciences, technology, financial services, energy, aerospace, defense and national security, sports, entertainment and media, gaming, music, and consumer brands.
With corporate lawyers in New York, Washington, London, Frankfurt, California, Boston, China, South Korea, Dubai, and Johannesburg, and teams focused on Latin America, India, and Japan, we handle domestic, cross-border, and international matters worldwide.
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