The voluntary carbon market space requires a normalized, impartial, neutral, and flexible approach to tackle the imminent climate crisis. This is why we rely on the ISO 14064 series of standards.
Quantification and reporting of greenhouse gas (GHG) emissions and removals at the organization level
Quantification, monitoring and reporting of greenhouse gas emission reductions or removal enhancements
The voluntary carbon market space requires a normalized, impartial, neutral, and flexible approach to tackle prominent climate solutions. ICR is a leader in this space by eliminating the need for prior approval of methodologies and aligning registration requirements with the robust ISO 14064-2 standard. This allows project proponents to focus on developing their projects based on ICR's requirements and the ISO 14064-2 standard, using any necessary tools. We believe that the ISO standards, developed by industry experts, represent the best practices for quantifying, monitoring, reporting, validating, and verifying emissions reductions in support of sustainable development and low-carbon economies. The ISO 14064 standards provide clarity and consistency for all parties involved. ICR has aligned its requirements with the ISO 14064-2 standard, which is a GHG program neutral standard. It offers a comprehensive approach to project-level quantification, monitoring, and reporting activities aimed at reducing GHG emissions. The ISO 14064-2 standard includes important requirements for planning GHG projects, identifying relevant GHG sources, sinks, and reservoirs, monitoring, documenting, and reporting project performance, and managing data quality.
For GHG projects and any resulting emission reductions or removals to be comparable, a standardized approach for quantifying, monitoring, and reporting is necessary. Over the years, various initiatives have been introduced to address the quality of internal actions by organizations and the quality of carbon credits used for offsetting purposes. Although some voluntary initiatives have adopted carbon principles from the Clean Development Mechanism, there is limited room for innovation and limited participation of new solutions in the voluntary carbon markets. There is an urgent need for a neutral and impartial initiative to support the deployment and scaling of prominent climate solutions, and this is where ISO standards play a crucial role. A framework that is compatible with relevant climate policies, good practices, legislation, and standards is essential to scale the market quickly. This means that the general requirements for climate projects should not prescribe specific criteria and procedures for implementation but simply result in emissions reductions or removals beyond what would have occurred in the baseline scenario.
What is ISO?
The International Organization for Standardization (ISO) is a global organization that develops and publishes international standards for a wide range of industries and activities. The ISO is headquartered in Geneva, Switzerland, and has over 160 national standards bodies as members. ISO standards cover a wide range of topics, from environmental management to quality management, information security to occupational health and safety. The organization's standards are developed by expert committees that include representatives from industry, government, and other stakeholders. ISO standards provide a common set of guidelines and best practices for organizations to follow, with the aim of improving efficiency, safety, and quality in their operations. The standards help to ensure that products and services are safe, reliable, and of good quality, and that organizations operate in a sustainable and responsible manner. ISO standards are developed through a rigorous and transparent process that involves input from a wide range of stakeholders. The process typically involves several stages, including a proposal for a new standard, the development of a draft standard, a review process, and the final publication of the standard. ISO standards are voluntary, meaning that organizations can choose to adopt them or not. However, many organizations choose to adopt ISO standards as a way to demonstrate their commitment to quality, safety, and sustainability, and to improve their operations and reputation. ISO certification is a process by which an organization's compliance with a particular ISO standard is verified by a third-party certification body. ISO certification provides independent confirmation that an organization's systems and processes meet the requirements of the relevant ISO standard. ISO certification is often used by organizations to demonstrate their commitment to quality, safety, and sustainability to customers, stakeholders, and regulators. ISO is also involved in the development of standards related to climate change and sustainable development. For example, the ISO 14000 series of standards provides guidance for environmental management, including the management of greenhouse gas emissions. The ISO 26000 standard provides guidance for social responsibility and sustainable development. Overall, the ISO plays an important role in promoting international standards and best practices across a wide range of industries and activities. ISO standards help to improve efficiency, safety, and quality in operations, and to promote sustainable and responsible practices. ISO certification provides independent verification of compliance with ISO standards, and can be a valuable tool for organizations seeking to improve their operations and reputation.
ISO 14064 series
ISO 14064 is a series of international standards that provide guidance for organizations to measure, report, and verify their greenhouse gas (GHG) emissions and emissions reductions. The ISO 14064 series consists of three separate standards: ISO 14064-1, ISO 14064-2, and ISO 14064-3. ISO 14064-1: Specification with guidance at the organization level for quantification and reporting of greenhouse gas emissions and removals ISO 14064-1 provides guidelines for organizations to develop and implement a GHG inventory management system. The standard provides guidance on the design, development, management, reporting, and verification of a GHG inventory, and is intended to help organizations develop consistent and accurate GHG emissions and removals inventories. ISO 14064-1 covers three scopes of emissions: direct emissions from sources that are owned or controlled by the organization, indirect emissions from energy use, and other indirect emissions, such as those from purchased goods and services. ISO 14064-2: Specification with guidance at the project level for quantification, monitoring and reporting of greenhouse gas emission reductions or removal enhancements ISO 14064-2 provides guidance for the development of GHG projects, including the development of project baselines, monitoring plans, and the calculation of GHG emissions reductions. The standard is intended to help organizations implement projects that result in verifiable and additional GHG emissions reductions or removals, and to provide guidance for the calculation and reporting of those reductions. ISO 14064-3: Specification with guidance for the validation and verification of greenhouse gas assertions ISO 14064-3 provides guidance for the validation and verification of GHG assertions, including GHG inventories, GHG emissions reduction projects, and GHG removal projects. The standard provides guidance on the selection and qualification of third-party validators and verifiers, as well as on the requirements and procedures for conducting validation and verification. The ISO 14064 series of standards provides a comprehensive framework for organizations to measure, report, and verify their GHG emissions and emissions reductions. The standards help organizations to develop consistent and accurate inventories of their emissions, to implement GHG reduction projects that result in verifiable emissions reductions or removals, and to validate and verify GHG assertions. The benefits of implementing the ISO 14064 series of standards include enhanced credibility and transparency in GHG reporting, improved communication and engagement with stakeholders, and greater confidence in the accuracy of GHG emissions and emissions reduction data. Implementing the standards can also help organizations to identify opportunities for GHG emissions reductions and to track progress towards GHG reduction goals. The ISO 14064 series of standards is recognized and widely used around the world, and can help organizations to demonstrate their commitment to sustainability and climate action. As the world continues to work towards reducing GHG emissions and mitigating the impacts of climate change, the ISO 14064 series of standards will continue to play an important role in promoting consistency and accuracy in GHG reporting and verification.
Relationship of ISO 14064 standards
ISO 14064-1 provides guidelines for the quantification and reporting of greenhouse gas emissions and removals for organizations. It’s intended to provide a consistent and transparent approach to greenhouse gas accounting, and to facilitate the development of effective climate change strategies and initiatives.
ISO 14064-2 provides guidelines for the quantification, monitoring, and reporting of greenhouse gas emissions reductions or removal enhancements resulting from projects or activities. The standard sets out requirements for the development, implementation, and monitoring of GHG emission reduction projects or activities, including baseline and monitoring methodologies, and data management and reporting requirements. It’s intended to promote consistency and accuracy in GHG accounting for emission reduction projects, and to provide a framework for assessing the effectiveness of these projects.
ISO 14064-3 provides guidelines for the validation and verification of greenhouse gas assertions. The standard sets out requirements and guidance for the independent validation and verification of greenhouse gas inventories and GHG emission reduction projects or activities. It’s designed to ensure that GHG assertions are accurate, transparent, consistent, and reliable, and to promote trust in GHG reporting and claims.