Demystifying the landscape of carbon quantification and reporting standards: a practical note for the financial sector
In response to the global challenge of climate change, financial institutions are increasingly called upon to assess and disclose their carbon emissions. Various global carbon quantification and reporting standards were developed, such as the Greenhouse Gas (GHG) Protocol, Task Force on Climate-rela...
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| Format: | Article |
| Language: | English |
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IOP Publishing
2025-01-01
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| Series: | Environmental Research Communications |
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| Online Access: | https://doi.org/10.1088/2515-7620/add2d9 |
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| author | Nicolas Page Alireza Gholami Qian Zhang |
| author_facet | Nicolas Page Alireza Gholami Qian Zhang |
| author_sort | Nicolas Page |
| collection | DOAJ |
| description | In response to the global challenge of climate change, financial institutions are increasingly called upon to assess and disclose their carbon emissions. Various global carbon quantification and reporting standards were developed, such as the Greenhouse Gas (GHG) Protocol, Task Force on Climate-related Financial Disclosures (TCFD), Partnership for Carbon Accounting Financials (PCAF) and others. Unfortunately, the now diverse landscape of standards increases the complexity for institutions seeking to develop voluntary carbon quantification and reporting. This study addresses the complexity issue by developing a criteria-based tool that summarizes the various components and requirements of the carbon standards. We propose eight criteria that summarize the standards’ key elements, requirements and relevance to the financial industry. We analyze seven major carbon quantification and reporting standards, systematically evaluating them against our tool. By doing so, we provide financial institutions with valuable insights in selecting appropriate standards to inform their emissions quantification and reporting decisions. |
| format | Article |
| id | doaj-art-004146a032b644b9b7ec0a550c26e0b0 |
| institution | DOAJ |
| issn | 2515-7620 |
| language | English |
| publishDate | 2025-01-01 |
| publisher | IOP Publishing |
| record_format | Article |
| series | Environmental Research Communications |
| spelling | doaj-art-004146a032b644b9b7ec0a550c26e0b02025-08-20T03:09:42ZengIOP PublishingEnvironmental Research Communications2515-76202025-01-017505200310.1088/2515-7620/add2d9Demystifying the landscape of carbon quantification and reporting standards: a practical note for the financial sectorNicolas Page0Alireza Gholami1https://orcid.org/0000-0003-0961-4730Qian Zhang2https://orcid.org/0000-0002-0544-6744The Robert M. Buchan Department of Mining, Smith Engineering, Queen’s University , Kingston, Ontario K7L3N6, CanadaThe Robert M. Buchan Department of Mining, Smith Engineering, Queen’s University , Kingston, Ontario K7L3N6, CanadaThe Robert M. Buchan Department of Mining, Smith Engineering, Queen’s University , Kingston, Ontario K7L3N6, CanadaIn response to the global challenge of climate change, financial institutions are increasingly called upon to assess and disclose their carbon emissions. Various global carbon quantification and reporting standards were developed, such as the Greenhouse Gas (GHG) Protocol, Task Force on Climate-related Financial Disclosures (TCFD), Partnership for Carbon Accounting Financials (PCAF) and others. Unfortunately, the now diverse landscape of standards increases the complexity for institutions seeking to develop voluntary carbon quantification and reporting. This study addresses the complexity issue by developing a criteria-based tool that summarizes the various components and requirements of the carbon standards. We propose eight criteria that summarize the standards’ key elements, requirements and relevance to the financial industry. We analyze seven major carbon quantification and reporting standards, systematically evaluating them against our tool. By doing so, we provide financial institutions with valuable insights in selecting appropriate standards to inform their emissions quantification and reporting decisions.https://doi.org/10.1088/2515-7620/add2d9greenhouse gas quantificationScope 3 emissionsclimate risk managementcarbon disclosurePCAF |
| spellingShingle | Nicolas Page Alireza Gholami Qian Zhang Demystifying the landscape of carbon quantification and reporting standards: a practical note for the financial sector Environmental Research Communications greenhouse gas quantification Scope 3 emissions climate risk management carbon disclosure PCAF |
| title | Demystifying the landscape of carbon quantification and reporting standards: a practical note for the financial sector |
| title_full | Demystifying the landscape of carbon quantification and reporting standards: a practical note for the financial sector |
| title_fullStr | Demystifying the landscape of carbon quantification and reporting standards: a practical note for the financial sector |
| title_full_unstemmed | Demystifying the landscape of carbon quantification and reporting standards: a practical note for the financial sector |
| title_short | Demystifying the landscape of carbon quantification and reporting standards: a practical note for the financial sector |
| title_sort | demystifying the landscape of carbon quantification and reporting standards a practical note for the financial sector |
| topic | greenhouse gas quantification Scope 3 emissions climate risk management carbon disclosure PCAF |
| url | https://doi.org/10.1088/2515-7620/add2d9 |
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