Greenhouse Gas (GHG) Accounting, also known as carbon accounting, involves measuring and tracking the greenhouse gases emitted directly and indirectly by an organization. This process is essential for understanding and managing an entity's environmental impact, setting emission reduction targets, and complying with regulatory requirements.
Key components of GHG accounting include:
- Emission Scopes: Categorizing emissions into Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from the generation of purchased electricity), and Scope 3 (all other indirect emissions that occur in the value chain).
- Standardized Frameworks: Utilizing established standards such as the GHG Protocol to ensure consistency and transparency in reporting.
- Reporting and Verification: Documenting emissions data and, when necessary, undergoing third-party verification to ensure accuracy and credibility.
