On June 24, 2024, the Greenhouse Gas Protocol (GHG Protocol) and the IFRS Foundation signed a memorandum of understanding (MoU) to promote their future collaboration. The goal is to jointly develop standards and guidelines and to ensure compatibility, thereby meeting the information needs of capital markets. The MoU aims to reduce costs and efforts for users and reporting organizations. Additionally, the ISSB will be actively involved in updates and decisions related to the GHG Protocol Corporate Standard. The GHG Protocol seeks closer cooperation with key stakeholders in the greenhouse gas emissions accounting ecosystem.
Professor Alexander Bassen, Chair of the GHG Protocol Independent Standards Board, emphasized that the alignment between the IFRS Foundation and the GHG Protocol is a significant step towards the global standardization of greenhouse gas reporting: “The enhanced collaboration between the two organizations will greatly benefit companies that wish to measure, manage, and report their greenhouse gas emissions. Furthermore, the close cooperation with the IFRS Foundation during the updating process of the GHG Protocol’s corporate standards will be invaluable.”
You can find more detailed information about the event here.