- The Corporate Value Chain (Scope 3) Standard reveals opportunities for companies to make more sustainable decisions about their activities and the products they produce, buy and sell. Large and small companies can look strategically at greenhouse gas emissions across their value chain, showing them where to focus limited resources to have the biggest impacts.
- The Product Life Cycle Standard enables companies to measure the greenhouse gas emissions of an individual product. Covering materials, manufacturing, use and disposal, the product standard will help companies improve and design new products and provide insights for more informed consumer choices.
The two new standards were developed by the World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD). They were created in response to businesses that want to better understand and measure their climate impacts beyond their own operations, and they’ll enable companies to save money, reduce risks and gain competitive advantage, the Greenhouse Gas Protocol says.
“The new standards provide companies with a comprehensive view of the emissions produced when making a product and across the value chain. They will help companies make better business decisions and stimulate innovation of products and production methods,” explained Björn Stigson, President, WBCSD. “In today’s world, it is necessary to understand and measure the costs for production, labor and transportation of products, which become visible and actionable through emissions.”
Already, these new standards are gaining widespread traction: (more…)