Carbon Accounting 101Carbon Accounting 101:

A Simple Guide to Understanding GHG Measurement and Reporting

 

What is Carbon Accounting

Carbon accounting is the process of measuring, tracking, and reporting an organization’s greenhouse gas (GHG) emissions. It involves quantifying emissions from various sources such as energy consumption, transportation, waste management, and other operational activities. It can help organizations understand how they are contributing to climate change and how they can most effectively reduce their emissions. 

The GHG Protocol Corporate Standard categorizes emissions into three scopes, covering all emissions generated across your value chain. This includes emissions under your control as well as those you could influence indirectly.  

Scope 1: Direct GHG emissions from your operation 

Scope 2: Indirect GHG emissions from purchased energy 

Scope 3: Indirect GHG emissions from your upstream and downstream value chain

Carbon Accounting Principles

Carbon accounting principles are critical for accurately measuring and reporting GHG emissions. These principles ensure consistency, transparency, accuracy, and completeness in tracking an organization’s carbon footprint. The key principles include:

  1.     Relevance: Make sure your inventory accurately shows the company’s emissions.
  2.     Completeness: Include all emission sources and activities within your chosen boundary.
  3.     Consistency: Use the same methods over time for fair comparisons.
  4.     Transparency: Disclose any assumptions used. 
  5.     Accuracy: Ensure the data is precise enough for users to make decisions with reasonable assurance.

Adhering to these principles is crucial for reliable carbon accounting, enabling organizations to set effective emissions reduction targets and strategies.

We Can Help You

For over 20 years, Blackstone Energy has helped numerous companies and organizations manage and conserve their carbon emissions with data-driven strategies and technology. Our team of carbon and regulatory experts can help your business map an emissions profile and assist in calculating scope 1 and 2 emissions following carbon accounting principles. To learn how our carbon experts can guide you through your carbon accounting journey, please reach out at policyandregulatory@blackstoneenergy.com.