New Standard: ISO14064‑1:2019, Greenhouse gases Part 1: Specification with guidance at the .......
Climate change arising from anthropogenic activity has been identified as one of the greatest challenges facing the world and will continue to affect business and citizens over future decades.
Climate change has implications for both human and natural systems and could lead to significant impacts on resource availability, economic activity and human wellbeing. In response, international, regional, national and local initiatives are being developed and implemented by public and private sectors to mitigate greenhouse gas (GHG) concentrations in the Earth’s atmosphere, as well as to facilitate adaptation to climate change.
There is a need for an effective and progressive response to the urgent threat of climate change on the basis of the best available scientific knowledge. ISO produces documents that support the transformation of scientific knowledge into tools that will help address climate change.
GHG initiatives on mitigation rely on the quantification, monitoring, reporting and verification of GHG emissions and/or removals.
The ISO 14060 family provides clarity and consistency for quantifying, monitoring, reporting and validating or verifying GHG emissions and removals to support sustainable development through a low- carbon economy and to benefit organizations, project proponents and interested parties worldwide. Specifically, the use of the ISO 14060 family:
— enhances the environmental integrity of GHG quantification;
— enhances the credibility, consistency and transparency of GHG quantification, monitoring, reporting, verification and validation;
— facilitates the development and implementation of GHG management strategies and plans;
— facilitates the development and implementation of mitigation actions through emission reductions or removal enhancements;
— facilitates the ability to track performance and progress in the reduction of GHG emissions and/or increase in GHG removals. the world’s best-known standard for information security management systems (ISMS) and their requirements. Additional best practice in data protection and cyber resilience are covered by more than a dozen standards in the ISO/IEC 27000 family. Together, they enable organizations of all sectors and sizes to manage the security of assets such as financial information, intellectual property, employee data and information entrusted by third parties.- the alignment (or lack thereof) of investment and financing decisions taken by the financier with low-carbon transition pathways, adaptation pathways, and climate goals;
— the impact of actions through the financier’s investment and lending decisions towards the achievement of climate goals in the real economy, i.e. mitigation (greenhouse gas emissions) and adaptation (resilience);
— the risks to owners of financial assets (e.g. private equities, listed stocks, bonds, loans) arising from climate change.
To support the financier’s assessment of the impact of investment and lending decisions, this document provides guidance for the financier on how to:
— set targets and determine metrics to be used for tracking progress related to the low-carbon transition pathways of investees;
— determine low-carbon transition and adaptation trajectories of investees;
— document the causality or linkage between its climate action and its outputs, outcomes and impacts.
This document is applicable to financiers, i.e. investors and lenders. It guides their reporting activities to the following third parties: shareholders, clients, policymakers, financial supervisory authorities and non-governmental organizations.
