International companies will be able to report on their reductions of greenhouse gas emissions thanks to a new uniform accounting and reporting standard. This standard, the Greenhouse Gas Protocol (GHG Protocol), was developed over a three-year period and presented by the World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD). It will be launched in Brussels on 26 October.
The Greenhouse Gas Protocol Initiative (GHG Protocol) is an international coalition of more than 350 businesses, non-governmental organisations (NGOs), governments and inter-governmental organisations.
The Protocol will allow business to report on their reductions of greenhouse gas emissions in a way which is consistent with international financial reporting standards. The instrument was already tested by several corporations such as Dow Chemical, Ford Motor Company, General Motors, Volkswagen and IBM.
International business is concerned about global warming and has already proposed several voluntary initiatives for reducing greenhouse gas emissions.
The official launch in Europe of the Greenhouse Gas Protocol will take place on 26 October in Brussels. The World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD) will then launch their joint report "The Greenhouse Gas Protocol: a corporate accounting and reporting standard" in the presence of EU Environment Commissioner Margot Wallström.