15 March 2012: Two new greenhouse gas standards, the “Corporate Value Chain (Scope3) Standard” and the “Product Life Cycle Standard,” developed by the World Resources Institute (WRI) and the World Business Council on Sustainable Development (WBCSD), were launched in India by the Greenhouse Gas Protocol initiative, at an event co-sponsored by WRI, WBCSD, and The Energy and Resources Institute (TERI).

These standards aim to empower businesses in India “to better measure, manage, and report their greenhouse gas emissions, as well as “save money, reduce risks, and gain competitive advantages.” Highlighting the standards’ capacity to track co-benefits including the reduction of energy use, Pankaj Bhatia, Director, Greenhouse Gas Protocol in WRI, noted that the Greenhouse Gas Protocol standards permit companies in the country to “target new market opportunities for low carbon business models and products.” Girish Sethi, Director-Industrial Energy Efficiency and Sustainable Technology, TERI, noted that the standards will help companies “work towards reducing their carbon footprints.”

The Greenhouse Gas Protocol (GHG Protocol) is the most widely used international accounting tool for government and business leaders to understand, quantify, and manage greenhouse gas emissions. [TERI Press Release]