Status Update

June 1, 2023

GHG Protocol’s Land Sector and Removals Guidance builds on the Corporate Standard and Scope 3 Standard, explaining how companies should account for and report GHG emissions and removals from agricultural and forest management practices, land use change, bioenergy, carbon dioxide removal technologies, and related activities in GHG inventories. 

The Accountability Framework Initiative (AFI), in partnership with Greenhouse Gas Protocol and the Science Based Targets initiative (SBTi), recently released new guidance on how companies can align key land sector targets, accounting and disclosures. 

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.

Banks are connected to every part of the economy through their investing and lending activities. That means they play a crucial role in financing the transition to a low-carbon economy. The financial sector is increasingly aware of the need to shift capital flows away from companies and activities that contribute to the climate problem and into climate solutions.

Fossil fuel companies hold vast oil, gas and coal reserves that help determine their market value. These reserves are also the basis to understanding the potential climate risks of burning these fuels. Yet not a single fossil fuel company in the world discloses potential emissions from their reserves – and that is a big problem.

Chengdu Development and Reform Commission developed its first greenhouse gas inventory in 2015 (based on 2010 data). This inventory revealed valuable insights about the sources of the city’s emissions. 

This week, the Smart Freight Center released the GLEC Framework, a guide for shippers, carriers and logistics service providers on how to report emissions from logistics operations. It is meant to be used in conjunction with the Corporate Standard, and it has earned the “Built on GHG Protocol” mark for its compliance with GHG Protocol’s requirements.

More than half the world’s people live in cities, and cities are responsible for more than 70 percent of all energy-related carbon dioxide emissions on Earth. These dramatic statistics mean cities have a critical role to play in addressing climate change.