The Greenhouse Gas Protocol (“GHG Protocol”), jointly managed by the World Business Council for Sustainable Development (WBCSD) and World Resources Institute (WRI), and the International Organization for Standardization (“ISO”) have finalized a Joint Working Group to develop a new, harmonized global standard for product‑level greenhouse gas accounting. The product‑level standard is a central element of wider efforts to create a science‑aligned global system for emissions reporting.

The new standard will build on existing frameworks, including ISO 14067 and the GHG Protocol Product Life Cycle Accounting and Reporting Standard and PACT Methodology, while moving towards a single, unified methodology. The objective is to ensure continuity for companies already using current standards, while improving comparability, transparency and usability of product carbon footprint data across value chains.

This development is closely linked to emerging regulatory and market requirements, including instruments such as the EU Carbon Border Adjustment Mechanism (CBAM). A harmonised product‑level standard is expected to support credible decarbonisation strategies, increase market transparency, and reduce administrative burden by limiting the need for parallel reporting systems.

To learn more about the product level accounting workstream and the progress that is being made, join ISO and GHG Protocol for the second webinar in the COP Action Agenda series on harmonizing global carbon accounting standards on April 24 at 9:00am ET / 3:00pm CET.