Geneva, 24 March 2023: The World Business Council for Sustainable Development (WBCSD) is pleased to announce that the Bezos Earth Fund has awarded USD $9.25 million to the Greenhouse Gas Protocol (GHG Protocol), which is co-convened by the World Resources Institute and WBCSD. The partnership will allow GHG Protocol to upgrade and clarify its existing standards, create new guidance, and provide further technical services to businesses. This work will support GHG Protocol users’ implementation of greenhouse gas emissions accounting and reporting standards.
The GHG Protocol establishes comprehensive global standardized frameworks, tools and resources to measure and manage greenhouse gas (GHG) emissions from private and public sector operations, value chains and mitigation actions. It is currently the world’s most widely used GHG accounting standard. The GHGP Corporate Standard provides the accounting platform for virtually every corporate GHG reporting program in the world. Over 92% of Fortune 500 companies that report emissions data to CDP do so according to the GHG Protocol accounting standards.
In November 2022, the GHG Protocol launched a set of surveys on its Corporate Accounting Reporting Standard, Scope 2 Guidance, Scope 3 Standard and Scope 3 Calculation Guidance to better understand users’ challenges with implementing the standards. The global stakeholder survey process will inform future revisions to existing standards or development of additional guidance and sets the stage for the next two years of GHG Protocol’s work. By soliciting feedback from users on pain points, as well as users’ suggestions for revisions, GHG Protocol is working to better serve practitioners on the ground.
Dr Andrew Steer, President and CEO of the Bezos Earth Fund, noted that “The global demand for greenhouse gas accounting and disclosure is skyrocketing and must be scaled and modernized to deliver needed standards, tools, and training.” He added: “Trust in these systems is paramount, and this investment in two critical corporate climate and accountability disclosure initiatives will help enable companies to take urgent climate action.”
“For over twenty years, GHG Protocol has played a foundational role in the greenhouse gas emissions and accounting ecosystem. Its standards have come to underpin virtually every corporate GHG reporting program,” said Ani Dasgupta, President & CEO of World Resources Institute. “This generous award from the Earth Fund comes at a critical inflection point as the GHG Protocol updates its standards and guidance, supports the eco-system that is based on it, and significantly ramps up support to thousands of businesses looking to make credible progress on climate commitments. Without a common set of definitions and measurements, it will be impossible to make sustained progress in critical emission reduction goals.”
Dominic Waughray, Executive Vice President at the World Business Council for Sustainable Development, said: “Business plays a critical role in accelerating decarbonization. High integrity standards which are aligned with the latest climate science and reflect user needs are key to enable targeted action and measurement of progress, hence creating accountability. We are delighted to be continuing our collaboration with WRI on this next phase of the Greenhouse Gas Protocol, building on the strong foundations we have already created together.”
About the Bezos Earth Fund
The Bezos Earth Fund is Jeff Bezos’s USD $10 billion commitment to fund scientists, activists, NGOs, and other actors that will drive climate and nature solutions. By allocating funds creatively, wisely, and boldly, the Bezos Earth Fund has the potential for transformative influence in this decisive decade. Funds will be fully allocated by 2030 — the date by which the United Nations’ Sustainable Development Goals must be achieved.
About Greenhouse Gas Protocol
Greenhouse Gas Protocol is the world’s leading authority and international standard setter on corporate greenhouse gas (GHG) emissions accounting. Building on a 20-year partnership between World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD), GHG Protocol works with governments, industry associations, NGOs, businesses and other organizations. GHG Protocol also provides standards, tools and online training to help countries and cities track progress towards their climate goals.
About World Resources Institute
Founded in 1982, World Resources Institute (WRI) is an independent, nonprofit global research organization that turns big ideas into action at the nexus of environment, economic opportunity, and human well-being. We are working to address seven critical challenges that the world must overcome this decade to secure a sustainable future for people and the planet: climate change, energy, food, forests, water, sustainable cities, and the ocean. WRI has a global staff of over 1,800 people with work spanning 60 countries. We have offices in Africa, Brazil, China, Europe, India, Indonesia, Mexico, Colombia and the United States, as well as a growing presence in other countries and regions.