Introduction
- What the Standard is About:
- There’s a set of rules (standard) that’s like a guide for companies.
- The main aim is to make sure that when companies make lists of their products and share that information with the public (public reporting), it’s done in a good and consistent way.
- Why the Standard Exists:
- The big goal of these rules is to help companies and other important groups (stakeholders) reduce the harmful gases their products produce.
- These gases come from everything: making, selling, buying, and using the products.
- How the Standard Helps:
- The rules in this standard make sure that when companies make their lists (inventories) and share them with the public, it’s done well every time.
- This is important because it helps companies set goals to reduce these harmful gases and then actually achieve these goals.
- Setting and Meeting Goals:
- Imagine a company decides it wants to make its products less harmful to the environment.
- This standard helps them set goals to reduce the bad stuff and then makes sure they can track their progress. So, they can see if they’re meeting their targets.
- Tracking Inventory Changes:
- Inventory changes mean any updates or alterations to the list of products and their environmental impact.
- The standard helps companies keep a close eye on these changes so they can always have the latest and most accurate information.
- Identifying Reduction Opportunities:
- Reduction opportunities are chances to make things better, like finding ways to make products that are less harmful to the environment.
- The standard helps companies figure out where these chances are and how to use them to make their products cleaner and greener.
Requirements
To set reduction targets and track inventory changes over time, companies shall:
- Develop and report a base inventory that conforms with the requirements of this standard
- Recalculate the base inventory when significant changes in the inventory methodology occur and report those changes
- Complete and disclose an updated inventory report including the updated results, the base inventory results, and the context for significant changes
- Use a consistent unit of analysis to enable comparison and track performance over time
Companies can publicly report a GHG inventory in conformance with the Product Standard without setting a reduction target and tracking inventory changes. However, companies that do set reduction targets and track inventory changes shall abide by these requirements.
