The GHG Protocol Initiative has developed two separate protocols. The Corporate Accounting and Reporting Standard covers accounting for corporate GHG emissions inventories. The GHG Protocol for Project Accounting is an offset accounting protocol. It is a tool for quantifying and reporting GHG emissions reductions from GHG mitigation projects. It does not focus on verification, enforcement or co-benefits. We discuss only the latter and refer to it as the GHG Protocol.
The GHG Project Protocol was jointly developed by the World Business Council for Sustainable Development (WBCSD) and the World Resources Institute (WRI) in partnership with a coalition of businesses, NGOs, governmental and inter -governmental organizations. The initiative was launched in 1998 with the aim of developing internationally accepted GHG accounting and reporting standards. The Corporate Accounting and Reporting Standard (revised edition) was published in 2004. The GHG Protocol for Project Accounting was finalized and published in December 2005.
The GHG Protocol is developed by the WRI and the WBCSD: The World Resources Institute (WRI) is an environmental think tank “that goes beyond research to create practical ways to protect the Earth and improve people’s lives. [WRI’s] mission is to move human society to live in ways that protect Earth’s environment for current and future generations. [WRI’s] programme meets global challenges by using knowledge to catalyze public and private action.” (GHG Protocol, p. 145) The World Business Council for Sustainable Development (WBCSD) is a coalition of 175 international companies “united by a shared commitment to sustainable development via the three pillars of economic growth, ecological balance and social progress. [WBCSD’s] members are drawn from more than 30 countries and 20 major industrial sectors.” (GHG Protocol, p. 145)
The development of the GHG Project Protocol for Project Accounting was supported by numerous companies, organisations, and governmental sponsors, including Energy Foundation, US AID, US EPA, BP, Chevron Corporation, Ford, International Paper, SC Johnson, Dow, and Environment Canada.
The GHG Project Protocol is programme neutral and is often used in conjunction with other standards or programs.