How to measure industry’s carbon footprint
As the global urgency for climate action intensifies, businesses worldwide are attempting to reduce their emissions, even if progress remains slow. According to the United Nations Sustainable Development Goals (SDGs), to achieve global climate action targets, greenhouse gas emissions (GHGs) must peak before 2025 and decline 43% by 2030. We are already at the end of 2024, and the world is lagging on its climate action commitments, something that was noted in many critical climate summits in 2024, including the world’s biggest climate conference COP 29 in November.
But it’s not all bleak news. The World Economic Forum's net-zero industry tracker 2024 highlights that five out of eight hard-to-abate sectors (including steel, cement, aluminum, primary chemicals, and oil and gas) have managed to reduce their emissions intensity by 4,1% between 2019 and 2023. This progress is a testament to the potential of technological innovation, including in solar energy tech, and supportive policies in driving sustainable practices.
Increasingly, companies are turning to trusted indicators to prove their commitment to driving down emissions. The new portfolio of IEC services for carbon footprint claim verification is helping companies build trust and transparency in their product and technology ethical and sustainable practices.
Tracking for carbon credits
Monitoring and reporting carbon footprint has been high on the agenda of most global climate action plans. One of the key outcomes of COP 29 was the agreement on international carbon market standards. These standards are designed to facilitate the trading of carbon credits across borders, making it easier for businesses to offset their emissions and contribute to global climate goals.
For businesses, this means that keeping track of their carbon footprint is no longer just a matter of corporate responsibility – it's a necessity for participating in international carbon markets. Companies wanting to earn carbon credits and sell them in these markets must adhere to stringent reporting and verification standards to ensure that emissions reductions are credible and transparent.
New IEC carbon footprint verification services
The IEC provides verification statement certificates to verify carbon footprint claims, issued by the IEC Quality Assessment System, IECQ, as part of its IECQ Approved Process Scheme. Obtaining an IEC verification statement certificate gives independent assurance that an organization has prepared its carbon footprint claims in accordance with internationally agreed standards, such as but not limited to ISO 14067.
A new portfolio of services has been launched specifically for verifying carbon claims at different levels and areas for companies. The services are also in response to calls for an internationally harmonized approach to verifying such claims, which helps to combat “greenwashing”. These IEC environmental verification services are offered as “horizontal services” meaning that they cover carbon footprint verification across a variety of different industries.
Carbon footprint of product (verification of compliance with ISO 14067)
This IEC verification assures that the product carbon footprint (PCF), as declared by the supplier, has been arrived at in accordance with the international standard ISO 14067. The ISO 14067 standard provides principles, requirements and guidelines for quantifying and reporting the carbon footprint of products throughout their entire life cycle. It measures the environmental impact of a product from raw material extraction to disposal.
IEC international verification statement certificates are useful to any manufacturer in any industry to provide proof of its sustainable approaches as well as for its customers and the markets, that the manufacturer has been independently verified by a trusted source, the IEC.
Carbon footprint at organization level (verification of compliance with ISO 14064-1)
This IEC verification helps companies measure and report their overall GHGs and removals, across their organization, thereby providing a comprehensive view of their environmental impact.
This IEC verification service provides assurance that companies follow ISO 14064-1 when determining their declared carbon footprint. This service lets you attest an organization-wide commitment to trustworthy carbon footprint reporting, not just for a specific product.
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