GHG Protocol for Project Accounting - Greenhouse Gas Protocol

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1 Introduction The Greenhouse Gas Protocol Initiative is a multi-stakeholder partnership of businesses, nongovernmental organisations (NGOs), governments, academics, and others convened by the World Business Council for Sustainable Development (WBCSD) and the World Resources Institute (WRI). Launched in 1998, the Initiative’s mission is to develop internationally accepted greenhouse gas (GHG) accounting and reporting standards and/or protocols, and to promote their broad adoption. The GHG Protocol Initiative is comprised of two separate but linked modules: • the GHG Protocol Corporate Accounting and Reporting Standard (Corporate Accounting Standard), revised edition, published in March 2004; and • the GHG Protocol for Project Accounting (this document). 4 PART I
CHAPTER 1: Introduction 5 1.1 The GHG Protocol for Project Accounting The GHG Protocol for Project Accounting (Project Protocol) provides specific principles, concepts, and methods for quantifying and reporting GHG reductions—i.e., the decreases in GHG emissions, or increases in removals and/or storage—from climate change mitigation projects (GHG projects). The Project Protocol is the culmination of a four-year multi-stakeholder dialogue and consultation process, designed to draw knowledge and experience from a wide range of expertise. During its development, more than twenty developers of GHG projects from ten countries “road tested” a prototype version of the Protocol, and more than a hundred experts reviewed it. The Project Protocol’s objectives are to: • Provide a credible and transparent approach for quantifying and reporting GHG reductions from GHG projects; • Enhance the credibility of GHG project accounting through the application of common accounting concepts, procedures, and principles; and • Provide a platform for harmonization among different project-based GHG initiatives and programs. To clarify where specific actions are essential to meeting these objectives, the Project Protocol presents requirements for quantifying and reporting GHG reductions and provides guidance and principles for meeting those requirements. Though the requirements are extensive, there is considerable flexibility in meeting them. This flexibility arises because GHG project accounting necessarily involves making decisions that directly relate to policy choices faced by GHG programs—choices that involve tradeoffs between environmental integrity, program participation, program development costs, and administrative burdens. Because the Project Protocol is not intended to be biased toward any specific programs or policies, the accounting decisions related to these policy choices are left to the discretion of its users. 1.2 Who Can Use the Project Protocol? The Project Protocol is written for project developers, but should also be of interest to administrators or designers of initiatives, systems, and programs that incorporate GHG projects, as well as third-party verifiers for such programs and projects. Any entity seeking to quantify GHG reductions resulting from projects may use the Project Protocol. However, it is not designed to be used as a mechanism to quantify corporate or entitywide GHG reductions; the Corporate Accounting Standard should be used for that purpose. GHG projects can be undertaken for a variety of reasons, including generating officially recognized GHG reduction “credits” for use in meeting mandatory emission targets, obtaining recognition for GHG reductions under voluntary programs, and offsetting GHG emissions to meet internal company targets for public recognition or other internal strategies. Though the Project Protocol is intended to be compatible with all of these purposes, using it does not guarantee a particular result with respect to quantified GHG reductions, or acceptance or recognition by GHG programs that have not explicitly adopted its provisions. Users are strongly encouraged to consult with relevant programs or other interested parties regarding the resolution of policy-relevant accounting decisions. In the absence of external guidance on these decisions, users should strive for maximum transparency when justifying the basis of such decisions and fulfilling the Project Protocol’s requirements. 1.3 Overview of the Project Protocol The Project Protocol has four parts. Part I presents GHG project accounting concepts and principles, as well as background information and a discussion of policy issues related to GHG project accounting. Part II contains the procedures and analyses that are required to quantify, monitor, and report GHG reductions. Part III provides two case study examples of how to quantify GHG reductions from GHG projects, and Part IV includes annexes to supplement the requirements and guidance contained in Parts I and II. Following are brief summaries of the information in Parts I and II. PART I: BACKGROUND, CONCEPTS AND PRINCIPLES • Chapter 1: Introduction. This chapter provides an introduction to the GHG Protocol Initiative and the Project Protocol, outlines its uses and limitations, and provides an overview of some tools that supplement the Project Protocol.
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CHAPTER 11: Reporting GHG Reduction
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Part III GHG Project Accounting Exa
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EXAMPLE 1: Cement Sector GHG Projec
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Part IV Supplementary Information A
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Legal Requirements 121 A.2 Finding
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C Assessing Net Benefits Using Inve
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Assessing Net Benefits Using Invest
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Glossary 131 Emission Factor Fuel S
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Glossary 133 Stringency Level Tempo
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References 135 New South Wales Gree
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References 137 Version 1.0: Volume
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Contributors 139 Jesse Uzzell, DNV
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Contributors 141 Wendy Poulton, Esk
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Contributors 143 David Lesolle, Min
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About WBCSD The World Business Coun
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GHG Protocol for Project Accounting - Greenhouse Gas Protocol

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