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Leading chemicals sector group gives guidance on GHG emissions

February 27, 2013

Leading chemicals sector group gives guidance on GHG emissions

Ten of the world’s largest chemical companies, together with the World Business Council for Sustainable Development (WBCSD), released an accounting and reporting guide to help the sector consistently account and report climate impacts in the corporate value chain.

The Guidance for Accounting & Reporting Corporate GHG Emissions in the Chemical Sector Value Chain provides a common sector guide for corporate level Greenhouse Gas (GHG) accounting and reporting. The guide gives direction to companies on a common approach for accounting and reporting on challenges such as joint arrangements, the resale of energy, identifying relevant value chain activities, combined heat and power installations, and swapping arrangements. It also provides a consistent framework for reporting, which allows for more transparency and consistency on corporate-level climate impacts across companies. By having a common approach that is used across the sector, companies can now compete on sustainability performance, rather than on methodologies.

“If we are to bring business solutions to the scale that the world needs, we must get all business involve, or in other words, we must change the accounting rules of the game. This guide is important because it is a significant step toward helping an important sector better account for, report and manage its climate impacts, and at the end of the day, provide sustained business growth,” Peter Bakker, President of the WBCSD said,

Read more at WBCSD.

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