Greenhouse Gas Inventory Standards: What Businesses Need to Know?

Inventorying and reporting greenhouse gas emissions (GHG) play a crucial role in helping businesses manage risks while exploring new opportunities for sustainable development. To ensure accuracy, transparency, and consistency in the GHG inventory process, companies must adhere to standards, including legal documents issued by the Vietnamese Government, Ministries, Sectors, and international standards: the GHG Protocol, and ISO 14064.

In Vietnam, the government has issued several legal documents and guidelines related to greenhouse gas inventory in specific sectors, such as Circular No. 38/2023/TT-BCT, regulating techniques for measurement, reporting, and verifying of GHG inventory and GHG mitigation in the Industry and Trade Sector; Circular No. 17/2022/TT-BTNMT, regulating measurement, reporting, verifying techniques for GHG inventory and GHG mitigation in the waste management sector; Circular No.23/2023/TT-BNNPTNT, regulations on measurement, reporting, and verifying of GHG inventory and GHG mitigation in the forestry sector. These legal documents include general provisions, technical procedures for GHG inventory, guidelines for measurement and verification of emission reductions, and enforcement clauses. This helps businesses define specific pathways and requirements for emission reduction while ensuring compliance with Vietnam's environmental protection laws in manufacturing activities.

The GHG Protocol is an international standard developed by the World Business Council for Sustainable Development (WBCSD) and the World Resources Institute (WRI). This protocol categorizes GHG emissions into three scopes and focuses on identifying and calculating emissions while providing detailed guidance on classifying and measuring different emission sources.

ISO 14064 is a standard set developed by the International Organization for Standardization (ISO) aimed at helping organizations manage and reduce GHG emissions. ISO 14064 consists of three parts: Part 1 (guidance for quantifying and reporting greenhouse gas emissions and removals at the organizational level), Part 2 (guidance for quantifying and reporting greenhouse gas emissions and removals at the project level), and Part 3 (guidance for verifying and validating greenhouse gas claims). Specifically, at the organizational level, ISO 14064 classifies GHG emissions into six categories, emphasizing the importance of maintaining consistency, comparability, completeness, transparency, and accuracy in quantifying, monitoring, and reporting emissions.

The guidelines on legal documents and standards for GHG inventory, such as ISO 14064 and the GHG Protocol, play a vital role in supporting organizations to measure, report, and manage emissions effectively and consistently. Adhering to these standards ensures accuracy and transparency in GHG inventory and contributes to global efforts to mitigate climate change.