With the temperature rising more than 1.5 degrees celsius each year, the Paris Agreement is now putting each country into an agreement to decrease the emission of greenhouse gas.
Whenever there is the question of environmental betterment, the corporate companies and the manufacturing industries should see the necessity in it.
Although not being made a mandate, many industries have already incorporated greenhouse gas protocol as their CSG (Corporate Social Governance).
Now, what is a GreenHouse Gas Protocol, and why is it necessary for all corporate companies globally to follow it.
This is also a great way to begin your Corporate Social Responsibility. Plus, something meaningful to add to your Business Sustainability Report. To get further assistance with your report, and understand the ESG process, click here.
What Are Greenhouse Gas
The greenhouse gases are the borderline poisonous gases in the Earth’s atmosphere that trap heat. They let sunlight from space pass through the atmosphere; however, due to the depleting nature of the atmosphere, they trap the sunlight along with the UV rays inside our atmosphere.
Some of the well-known greenhouse gases are:
- Carbon Dioxide.
- Carbon Monoxide.
- Nitrous Oxide.
The term greenhouse comes from the phenomenon of the actual greenhouse, where the greenhouse traps heat inside for the plants to survive in cold countries. However, these greenhouse gases are far contrary to helping us survive; rather, with the increase in temperature, it is simply melting glaciers and increasing the sea levels.
Why The Standard Corporate Greenhouse Protocol Is Needed
The GHG Protocol Corporate Accounting and Reporting Standard will provide your company with the necessary guidance and requirements for preparing the GHG emission report.
- One should design it keeping the following objective in mind.
- It will help companies to build a GHG inventory which helps the company to ensure that they are being fair while reporting about their greenhouse gas emission.
- It can also help companies to build a strategy that can help them decrease the carbon footprint in their corporation.
- It can also help increase consistency and transparency in your business sustainability record.
What Is The GHG Corporate Standard?
The standards are for the sole purpose of business development and its cooperation in understanding the harm they do to the environment and how one should mitigate it.
However, this protocol is not limited to these private organizations only. They can very well assist the public sectors, NGOs, and government agencies as well.
How The GHG Is Calculated
The GHG Protocol Corporate Accounting and Reporting Standard assists organizations in first identifying the amount of GHG emissions, then calculating the ways they can be reduced, and then reporting the GHG emissions to the business sustainability report.
It is designed to set a standard mark that can be calculated accurately and consistently. This relevancy and transparency are what is required for the proper GHG report. Being dishonest in the report will not help the government, and neither can it help you grow as a reputed company in the world.
The GHG calculation helps organizations and their executives track and report the operational GHG emissions over time.
It also gives guidance on the following matters –
- GHG accounting
- Reporting principles
- Business goals
- Inventory design
- Managing inventory quality
- Accounting for GHG reductions
- Verification of GHG emissions
- Setting a GHG target.
Frequently Asked Questions
If you are a company that is just finding out about the GHG protocol and want to follow it, then you must have some questions as well. We have scoured the internet and found some of the frequently asked questions which can help you understand the subject a little better.
1. When Was The GHG Created
Ans. GHG was first published in the year 2001 in the Corporate Standard. It has gone through one revision in the year 2004. It now provides an accounting platform for every company in countries including India, Brazil, Japan, Malaysia, North America, the Philippines, and the United Kingdom.
2. Is GHG Good Or Bad?
Ans. There have been many controversies about the idea of greenhouse gases. On paper, you will see that they are affecting global warming and that they are bad. However, one cannot deny that some greenhouse gases do help in regulating the temperature.
This is why we need the protocol which gives us an accurate calculation of how much greenhouse gas emission is actually bad for the environment.
3. Is GHG Protocol Mandatory?
Ans. No, it is not mandatory, but the EPA is creating a database that talks about GHG emissions from corporate sectors around the world. Plus, even if it isn’t mandatory, it is our responsibility.
Whether it is mandatory or not, it is our duty as global citizens to ensure that you have a fair contribution to decreasing the Carbon footprint and doing something better for the environment.
Thus, whether you are a startup or a long-standing company, take this initiative to work better on your GHG protocols.