GHG Protocol Releases Corporate Standard Survey Summary for Stakeholder Review

The Greenhouse Gas Protocol published a draft summary of feedback from its Corporate Standard survey, which received 375 responses during the November 2022 to March 2023 consultation period. The summary was open for review until 24 January 2024 for participants who believed their feedback was not accurately represented.

The Corporate Standard survey was one of four GHG Protocol surveys on its flagship accounting standards. Alongside the draft summary, GHG Protocol received over 40 proposal submissions specifically related to the Corporate Standard. The secretariat is meeting with submitting organisations for further discussions and is moving toward transparent evaluation of proposals as the next stakeholder engagement phase. The Corporate Standard underpins target-setting programmes including the SBTi and is referenced in mandatory climate disclosure regimes including the CSRD and California's climate laws.

The parallel launch of the GHG Protocol's new governance structure in November 2023, featuring a Steering Committee, Independent Standards Board and Technical Working Groups, provides the institutional framework within which Corporate Standard revisions will be developed. Applications for governing body membership were open until 15 January 2024. The governance reform responds to years of criticism that GHG Protocol's standards update process lacked formal oversight and moved too slowly relative to the pace of regulatory development.

The Corporate Standard Survey Summary will inform the work plans of the Technical Working Group assigned to the Corporate Standard update workstream. Survey results, along with ongoing research and new submissions, will shape initial deliberations on specific revision topics. For Indian companies and their statutory auditors, revisions to the Corporate Standard will affect how organisational and operational GHG accounting boundaries are defined, including for subsidiaries and joint ventures operating across multiple jurisdictions.

Key figure — 375 responses received to the GHG Protocol Corporate Standard survey