The Greenhouse Gas (GHG) Protocol, a crucial framework for measuring and managing greenhouse gas emissions, is undergoing a significant update. At BH Grid Solutions, we're excited about the potential changes, particularly the push for more granular emissions data. This shift could revolutionize how organizations track and reduce their carbon footprint, especially in relation to Scope 2 emissions.
The GHG Protocol, a collaboration between the World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD), is responding to advancements in greenhouse gas accounting and reporting. From November 2022 to March 2023, they conducted a feedback process, inviting public input on existing corporate standards and guidance.
The primary goal of these updates is to align with best practices, ensuring that GHG Protocol standards for Scope 1, 2, and 3 emissions provide a comprehensive and credible accounting foundation. This alignment is crucial for organizations to effectively measure, plan, and track progress towards science-based and net-zero targets, in line with the global 1.5°C goal.
One of the most exciting developments in this update is the strong interest in hourly, granular carbon accounting for both location-based and market-based approaches. This emphasis on accuracy, specificity, and accessibility aligns perfectly with BH Grid Solutions' approach to emissions tracking.
Currently, the GHG Protocol recommends accounting for Scope 2 emissions (indirect emissions from purchased electricity, steam, and heat) on an annual basis. However, at BH Grid Solutions, we've long recognized the value of more detailed data. Our advanced emission modeling system offers companies real-time, 24/7 insights into their Scope 2 emissions, based on hourly usage and hourly, balancing authority level emission factors.
The move towards more granular data is crucial for several reasons:
The GHG Protocol secretariat is committed to a consensus-based outcome for these updates. Drafts of revised text are expected in 2024, with final standards and guidance anticipated in 2025.
At BH Grid Solutions, we're proud to be at the forefront of this shift towards granular emissions data. We remain dedicated to delivering detailed insights to our customers, empowering them to make informed, data-driven decisions crucial for effective GHG emissions management and decarbonization efforts.
As the GHG Protocol evolves, we look forward to contributing our expertise and supporting the advancement of greenhouse gas accounting practices. The move towards granular data represents a significant step forward in the fight against climate change, and we're excited to be part of this crucial transition.
Stay tuned for more updates as we continue to track the GHG Protocol revision process and its implications for businesses and sustainability efforts worldwide.
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