ISO 14064 is an international greenhouse gas (GHGs) emissions accounting standard. The document provides guidance on how businesses and organisations can account for their emissions, including setting up a system to track and report emissions data. The standard covers all types of emissions, including greenhouse gases (GHGs) such as carbon dioxide (CO2).
Implementing ISO 14064 can help businesses and organisations to improve their environmental performance by providing a framework for measuring, monitoring and reporting emissions data. It can also help organisations to communicate their emissions reductions to stakeholders, and to verify their emissions claims.
Organisations that implement ISO 14064 can use the standard to:
– understand their emissions profile;
– set emissions reduction targets;
– track progress towards those targets;
– report emissions data to stakeholders; and
– verify their emissions claims.
ISO 14064 is part of a suite of emissions accounting standards, which also includes ISO 14065 (for emissions verification) and ISO 14066 (for emissions inventories). Together, these standards provide a comprehensive framework for emissions accounting and reporting.
What are the ISO 14064 standards?
The standards aim to improve the transparency and comparability of greenhouse gas data and to provide a robust foundation for emissions trading schemes and other climate change mitigation initiatives.
There are three parts to the ISO 14064 standards:
* Part 1: Specifies requirements for quantifying, monitoring and reporting GHG emissions and removals
* Part 2: Provides guidance on GHG project accounting
* Part 3: Specifies requirements for verifying GHG emissions reductions or removal enhancements claims made by organisations
Organisations that comply with the ISO 14064 standards can demonstrate their commitment to reducing their greenhouse gas emissions and can provide assurance to stakeholders that their data is reliable and comparable.
- Demonstrating environmental responsibility: ISO 14064 is an internationally recognised standard for greenhouse gas (GHG) accounting and reporting. By implementing this standard, your business can demonstrate its commitment to measuring, monitoring, and reducing its GHG emissions. It showcases your environmental responsibility and can enhance your reputation among stakeholders, including customers, investors, and the public.
- Improved credibility and trust: ISO 14064 certification provides independent verification of your GHG accounting and reporting practices. This enhances the credibility of your environmental claims and can help build trust with stakeholders who rely on accurate and transparent information. It demonstrates your commitment to data accuracy, reliability, and integrity.
- Enhanced risk management: Understanding and managing your GHG emissions can help identify potential risks and opportunities associated with climate change and environmental impacts. ISO 14064 provides a framework for identifying and addressing these risks, allowing you to develop strategies to mitigate them effectively. It enables you to better adapt to changing regulations, market demands, and stakeholder expectations related to climate change and sustainability.
- Cost savings and efficiency improvements: Implementing ISO 14064 can lead to improved operational efficiencies and cost savings. By measuring and monitoring your GHG emissions, you can identify areas of inefficiency, waste, or excessive resource use. This information can help you implement targeted initiatives to reduce emissions, optimise processes, and improve resource management, resulting in cost savings and increased operational efficiency.
- Competitive advantage: this certification can differentiate your business from competitors by showcasing your commitment to environmental sustainability. It can provide a competitive advantage when bidding for contracts, attracting environmentally conscious customers, and entering new markets that prioritise sustainability. Certification can also be a requirement for participating in certain government tenders or industry-specific initiatives.
- Regulatory compliance: ISO 14064 aligns with many national and regional GHG reporting frameworks and regulations. By implementing the standard, you can ensure compliance with relevant reporting requirements, reducing the risk of non-compliance penalties or reputational damage associated with environmental violations.
- Employee engagement and morale: Implementing ISO 14064 demonstrates your commitment to sustainability to your employees. It can enhance employee engagement, pride, and motivation by aligning their work with meaningful environmental goals. Engaged employees are more likely to contribute innovative ideas, support sustainability initiatives, and become advocates for your business.