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Introductory Note On ISO 14064
Introductory Note On ISO 14064
What is it?
Why go for it?
What do we offer?
Answered here
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Introduction to ISO 14064
Agneya
Insights
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Source: http://cdiac.ornl.gov/ftp/trends/co2/maunaloa.co2
The graph shows the increasing level of CO2 in the last 5 decades. Climate change has
therefore become a key agenda in international trade negotiations with direct
emphasis on reducing the concentration of GHGs in atmosphere. First step towards
achieving this task is quantification and reporting of GHG emissions at the
organizations and country level. ISO 14064-1 provides specification and guidance for
the same.
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Introduction to ISO 14064
Agneya
Insights
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Climate change presents organizations risks and opportunities in a world which will
slowly but surely move towards lower carbon-intensive technologies and products.
Organizations that will respond quickly to this trend will maximize their opportunities.
Organizations must know the risk associated with climate change, their carbon
footprint, benefits, and cost associated with mitigating the risks and lowering their
carbon footprint. ISO 14064 is the first step in this direction. ISO 14064 comprises
three standards, respectively detailing specifications and guidance for the
organizational and project levels, and for validation and verification. They can be used
independently, or as an integrated set of tools to meet the varied needs of GHG
accounting and verification. ISO 14064-1:2006, Greenhouse gases – contains
specification with guidance at the organization level for the quantification and
reporting of greenhouse gas emissions and removals.
Risk and opportunity assessment due to climate change: Climate change can
have significant impact on input costs hurting companies profitability. (Rattling Supply
Chain, a study by AT Kearney in collaboration with WRI). Similarly climate change
presents opportunities for companies to innovate in products and technologies. ISO
14064-1 provides the first step towards preparing organization’s mindset to think
about climate change in connection with its core strategy. It also helps organization to
assess the value and assets at risk, product or service opportunities in its business
line due to climate change, and adapt itself towards changing business.
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Introduction to ISO 14064
Agneya
Insights
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Meeting investors’ expectation: Investors are increasingly demanding the
organization’s preparedness for climate change. Carbon Disclosure Project (CDP) is
one such project wherein more than 2500 organizations worldwide has disclosed their
carbon footprint and their action plan to adapt climate change and prevent it
altogether. More than 475 of world’s largest investor’s with assets more than $ 55
trillion and 60 purchasing organizations worldwide are signatories of CDP. IFC’s
performance standards asks for carbon emission accounting at the project level.
Enhances shareholder’s value: Through ISO 14064, organization can prepare itself
towards risks and mitigate or manage it. Organization’s preparedness towards long
term sustainability increases the confidence of investors and shareholders and hence
increases the shareholder’s value in long term.
Non Financial Reporting: In today’s world, organizations have to disclose more than
financial data to build good image amongst investors, regulators, and society at large.
ISO 14064 provides data on carbon footprint and organization’s mitigations efforts.
These reports could be Corporate CSR report, GRI Sustainability report, or Annual
Report.
Cost Saving: Higher emissions are proxy indicators for lower efficiency of the
processes, equipments, and buildings. Hence through the implementation of
organization wide carbon footprint measurement, lower efficiency hot spot can be
found out. These activities can bring in the savings for the organization.
Brand equity enhancement: Brand equity is something what people think of you.
ISO 14064 certification can put the organization into league of truly world class
companies which are admired internationally. Natural Sugar can be first Indian sugar
company if it gets ISO 14064 certification successfully and hence gain visibility on
international level. Some of the Indian companies which have adopted carbon
accounting and management systems.
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Introduction to ISO 14064
Agneya
Insights
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Source: Based upon the CDP India report (www.cdproject.net). All these logos are registered trademarks of the respective
organization, downloaded from the respective websites purely for presentation purpose.
Benefits in brief
• Preparing for the future regulatory environment framework
• Organization’s risk and opportunity assessment due to climate change
• Meeting investor’s expectation
• Enhancing shareholder’s value
• Data for non financial reporting
• Cost saving through elimination of wastes and efficiency improvement
• Platform for identification of CDM projects
• Company’s brand equity enhancement
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Introduction to ISO 14064
Agneya
Insights
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What we offer ?
We help client through our expertise in fields of inventorying of emissions,
implementation of emission measurement methodologies, conceptualization and
implementation of internal GHG abatement strategy, sustainability analysis, reporting
and assurance. We provide client with metrics, data, methodologies, and tools to
monitor emission and initialize ongoing carbon productivity at the micro level. Thus
we prepare the organization for ISO 14064-1. With our partnership with certification
bodies, we offer end-to-end solution to our clients.
Please visit us at
www.agneya.in
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Introduction to ISO 14064