ISO 14064-1:2018 vs GHG Protocol

ISO 14064-1:2018 vs GHG Protocol, for corporate carbon accounting: Understand the key differences to choose the best path for your carbon inventory. Strengthen compliance, meet stakeholder demands, and turn climate responsibility into a strategic business advantage.

ISO 14064-1:2018 vs GHG Protocol: When considering the carbon accounting methodologies in order to create their carbon footprint inventory. Companies and reporting standards like CSRD are considering the two most popular methodologies and paths. ISO 14064-1:2018 and GHG Protocol Corporate Standard guidelines. Both methodologies offer a comprehensive and extensive methodology on the basis of conducting a GHG inventory. In this guide we will walk through the benefits of each standard. In order for you to make the most informed decision for your company.

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Why is a GHG inventory important for your company?

Before we dive into the standards, it is important to revisit the “why”. Carbon accounting is the foundation for credible decarbonization strategies. Without it, claims of being “green” or “net-zero” lack substance and credibility for the stakeholders. Calculating GHG emissions is essential to:

• Understand your climate risks and opportunities: In order to make more informed business decisions and have a robust risk management strategy.
• Comply with regulations: Depending on the industry, geographical regions, and the size of your company you might be required to adhere to certain laws that demand the reporting of your GHG emissions (e.g., CSRD, carbon taxes, SEC, etc.).
• Meet investor and stakeholder expectations: Given that more and more suppliers, clients, investors seeking to decarbonize increasingly require their value chain partners to report their GHG emissions for their accurate Scope 3 calculations. In addition to that, customers and clients are becoming more and more conscious in their purchase behaviors.

Why choose GHG Protocol?

The Greenhouse Gas Protocol (GHG Protocol) is the most widely used standard for emissions reporting globally. It provides comprehensive guidance to measure, manage and report emissions across. Scope 1 (direct emissions), Scope 2 (indirect emissions, energy-related) and Scope 3 (indirect emissions, value chain-related). It is applicable and easy to be adopted by all sectors globally, as it also offers modular approaches. And is highly recommended especially for multinational companies, as it covers detailed Scope 3 disclosures.

The GHG Protocol approach is ideal for:

• Companies with complex value chains (GHG Protocol offers 15 distinct Scope 3 categories). That work across multiple geographies and target net-zero and science-based targets.
• Companies that disclose under ESRS, CDP, TCFD or SBT. As it is widely accepted by voluntary frameworks and mandatory reporting standards.
• Firms aiming for comparability and standardization across geographies and put emphasis on completeness of their GHG inventory and transparency.

Why choose ISO 14064-1:2018?

The ISO 14064-1:2018 is part of the ISO 14060 family and focuses on quantifying and reporting GHG emissions and removals at the organizational level. It is often favored in industries that need formal certification or third-party assurance, as it provides a more standardized and global framework. Taking into consideration the organization’s capacity, ISO 14064-1:2018 may be easier to implement as it provides more generic instructions.

The ISO 14064-1:2018 approach is ideal for:

• Companies in manufacturing, construction, energy and heavy industry, and especially for certified industries on environmental compliance
• Organizations that need certified footprints for tenders or compliance and already have adopted ISO certified management systems, as it has a high ease of third-party verification due to its precision and alignment with ISO audit principles.
• Businesses seeking integration with broader ISO environmental systems

Tip: Many organizations use both the GHG protocol for internal management and stakeholder reporting and ISO 14064-1:2018 for assurance, certification, or regulatory compliance.

In sustainability and business topics, there is no one-size-fits-all. Your carbon accounting framework should support your sustainability goals, sector demands, and reporting obligations. What matters most is that your chosen approach is consistent, transparent, aligned with your business strategy, and easy to be integrated into your existing systems.

Our team of experts can help you make informed decisions based on your strategic goals, industry context, and regulatory obligations. Please use the contact form below to inform us of your needs regarding your GHG Accounting and GHG Inventory Assurance services. We aim to respond within one business day to assist you.