Product Life Cycle Accounting and Reporting

Guidance 1. Steps for setting reduction targets and tracking changes Step 1: Complete and report a base inventory The company needs to create a starting list (base inventory) of the environmental impact of its product. This list must follow specific rules (requirements of the standard). This doesn’t have to be the first list ever; the …

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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 …

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Guidance 1. Goal of public reporting Goal of GHG Inventory: GHG stands for Greenhouse Gas, like the gases that contribute to global warming. The GHG Protocol Product Standard is a set of rules to measure and report these gases during the whole life of a product (from making it to using it). The big goal …

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Requirements Reporting is crucial to ensure accountability and effective engagement with stakeholders. This blog(Requirements) summarizes the various reporting requirements specified in and identifies additional reporting considerations that together provide a credible reporting framework and enable users of reported data to make informed decisions. It is essential that the reported information is based on the key …

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Guidance 1. Benefits of assurance “Assuring product inventory results” means making sure that the information about the number of products a company has is accurate and reliable. Now, let’s look at the benefits: Increased confidence in reported information: If a company is sure that its inventory information is correct, it can have more confidence in …

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Introduction Assurance Definition: Assurance refers to the degree of confidence or certainty we have that the information about a company’s inventory is reliable. This confidence is based on the understanding that the inventory details are thorough, correct, consistent, clear, pertinent, and don’t have significant mistakes. Why Assurance Matters: Getting assurance (confidence) about a company’s product …

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Calculating the inventory results of the studied product Companies should follow these steps when calculating the GHG impact of the studied product: A. Choose a GWP value: Companies need to select a Global Warming Potential (GWP) value, which represents the impact of greenhouse gas (GHG) emissions on global warming. The GWP values are updated by …

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Introduction This blog  outlines key requirements in quantifying the GHG inventory (means measuring or calculating the greenhouse gas (GHG) emissions of something) results of the studied product necessary for public reporting. Requirements Companies shall apply a 100 year global warming potential (GWP) factor to GHG emissions and removals data to calculate the inventory results in …

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Guidance Role of the uncertainty assessment process Keeping a List of Uncertainties: Companies that want to measure and report their GHG emissions need to keep a list of things they are not entirely sure about, or uncertainties. These uncertainties could be anything that might affect the accuracy of their measurements.  Why Keep a List of …

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Introduction Imagine you have a list of things you own, like toys, books, or clothes. Now, if someone asks you to make a list and count how many items you have, there might be some uncertainty. Maybe you forgot about a few things or made a mistake in counting. That uncertainty is like a doubt …

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