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In the context of GHG accounting, RECs are often used to adjust estimated Scope 2 emissions. In a typical case, a company would calculate its Scope 2 emissions using its electricity consumption and a grid emissions factor. Companies that purchase RECs can use them to lower the average emissions factors included in their inventories.
The emissions information in eGRID include carbon dioxide (CO 2), nitrogen oxides (NO x), sulfur dioxide (SO 2), mercury (Hg), methane (CH 4), nitrous oxide (N 2 O), and carbon dioxide equivalent (CO 2 e). CO 2, CH 4, and N 2 O are greenhouse gases (GHG) that contribute to global warming or climate change.
The GHG Protocol Corporate Standard (GHG Protocol Corporate Accounting and Reporting Standard, GHGPCS) is an initiative for the global standardisation of emission of greenhouse gases in order that corporate entities should measure, quantify, and report their own emission levels, so that global emissions are made manageable.
ISO 14064-3 specifies requirements for selecting GHG validators/verifiers, establishing the level of assurance, objectives, criteria and scope, determining the validation/verification approach, assessing GHG data, information, information systems and controls, evaluating GHG assertions and preparing validation/verification statements.
The Securities and Exchange Commission approved a long-awaited rule requiring US public companies to disclose climate risks as well as Scope 1 and 2 emissions.
The greenhouse gas protocol is a set of standards for tracking greenhouse gas emissions. [17] The standards divide emissions into three scopes (Scope 1, 2 and 3) within the value chain. [18] Greenhouse gas emissions caused directly by the organization such as by burning fossil fuels are referred to as Scope 1.
Scope 1 covers all direct GHG emissions within a corporate boundary (owned or controlled by a company). [50]: 25 It includes fuel burned by the company, use of company vehicles, and fugitive emissions. [50]: 27 Scope 2 covers indirect GHG emissions from consumption of purchased electricity, heat, cooling or steam.
The GREET model is specified in the Inflation Reduction Act of 2022 §45V [2] as the methodology to calculate the life cycle greenhouse gas emissions "through the point of production (well-to-gate)" when determining the level of tax credit for clean Hydrogen production until a successor is approved by the Secretary of the Treasury. The final ...