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GHG Protocol and the International Organization for Standardization to Combine Corporate Carbon Accounting Standards

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The Greenhouse Gas Protocol (GHGP) and the International Organization for Standardization (ISO) yesterday announced that they will combine their corporate carbon accounting standards into a single, harmonized global accounting standard. GHGP noted that the new standard will “help reduce duplication, improve consistency, simplify reporting and support more effective decision-making by companies, investors, policymakers and other stakeholders”. The announcement builds on the strategic partnership established between GHGP and ISO last year and the COP30 Presidency mandate in November 2025 that GHGP and ISO jointly lead the harmonization of global GHG accounting standards within the Action Agenda. The combined standard aims to create a common global language for emissions accounting, supporting governments, investors and regulators.   Overview. The combined standard will integrate and consolidate GHGP’s existing entity-level standards (Corporate Standard, Scope 2 Guidance, Scope 3 Standard) and outputs from the GHGP’s Actions and Market Instruments workstream with ISO’s 14064-1 standard (Part 1: Specification with guidance at the organization level for quantification and reporting of greenhouse gas emissions and removals) to produce a single standard with multiple parts: Part 1: General Requirements and Physical GHG Inventory Part 2: Actions and Market Instruments.  GHGP indicated that the combined standard will seek to “reduce fragmentation, increase interoperability, and provide organizations with a single trusted foundation for climate reporting and decision-making” with additional guidance documents provided to assist users with implementation.    Next steps. GHGP also published a new “Corporate Standard – Standard Development Plan” which provides key details, processes, and timelines for developing the consolidated corporate standard. GHGP noted that to achieve harmonization under its partnership with the ISO, each of their respective governance bodies approved a new timeline which includes a consolidated public consultation in Q2 2027 and publication of the consolidated joint corporate standard in Q4 2028.   For further information or to discuss the contents of this bulletin, please contact Lisa DeMarco at lisa@resilientllp.com.

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EPA to Rescind 2009 GHG Endangerment Finding

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The U.S. Environmental Protection Agency (EPA) yesterday announced its intent to rescind the 2009 Endangerment and Cause or Contribute Finding for Greenhouse Gases (the Finding) later this week. The Finding, issued under the Clean Air Act (the Act) and preceded by confirmation of the EPA’s regulatory authority by the U.S. Supreme Court in a landmark 2007 decision, has served as the legal foundation for almost all climate regulations under the Act, including auto standards. Once rescinded, the EPA is expected to repeal all GHG emission standards for light-, medium-, and heavy-duty vehicles and engines. The EPA previously indicated that engine and vehicle manufacturers would no longer have any future obligations for the measurement, control, and reporting of GHG emissions for any highway engine and vehicle. The EPA has stated, however, that it would maintain regulations necessary for criteria pollutant and air toxic measurement and standards, Corporate Average Fuel Economy testing, and associated fuel economy labeling requirements. Background. On December 7, 2009, the Obama Administration signed two distinct findings regarding GHGs under section 202(a) of the Act: Endangerment Finding. Current and projected concentrations of the six key well-mixed greenhouse gases – carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), and sulfur hexafluoride (SF6) – in the atmosphere threaten the public health and welfare of current and future generations. Cause or Contribute Finding. The combined emissions of the well-mixed GHGs from new motor vehicles and new motor vehicle engines contribute to the GHG pollution that threatens public health and welfare. On January 20, 2025, President Trump signed an Executive Order directing the EPA to submit recommendations regarding the legality and continuing applicability of the Finding. Following that directive, the EPA announced last summer that it was reconsidering the Finding, culminating in this week’s anticipated formal rescinding of the Finding.   For further information or to discuss the contents…

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U.S. and China Release Sunnylands Statement Ahead of COP 28

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The United States and China announced renewed commitment to enhance cooperation to address the climate crisis in the Sunnylands Statement released on November 14, 2023 (the Statement). Both countries indicated their commitment to the effective implementation of the UNFCCC and the Paris Agreement, including the Glasgow Climate Pact and the Sharm el-Sheikh Implementation Plan, and to further the effective and sustained implementation of the U.S.-China Joint Statement Addressing the Climate Crisis and the U.S.-China Joint Glasgow Declaration on Enhancing Climate Action in the 2020s. This bulletin provides key details of the new and renewed commitments in the Statement. COP 28. The countries indicated that the consensus Global Stocktake decision expected to come out of COP 28 should, among other things: reflect that substantially more ambition and implementation on action and support will be needed to achieve the Paris Agreement’s goals; send signals with respect to the energy transition (renewable energy, coal/oil/gas), carbon sinks including forests, non-CO2 greenhouse gases (GHGs) including methane, and low-carbon technologies; encourage economy-wide 2035 Nationally Determined Contributions (NDCs) covering all GHGs; note the expectation of developed countries that the $100B climate finance goal will be met in 2023; welcome the recommendations of the Transitional Committee with respect to establishing funding arrangements to address loss and damage, including the establishment of a fund; and emphasize the important role of international cooperation. 2035 NDCs. The U.S. and China both affirmed that their 2035 NDCs under the Paris Agreement will be economy-wide, include all GHGs, and reflect emission reductions aligned with the Paris Agreement temperature goals. Energy Transition. The Statement provides important commitments related to the energy transition, including: support for the G20 Leaders Declaration to pursue efforts to triple renewable energy capacity globally by 2030 and sufficiently accelerate renewable energy deployment through 2030 from 2020 levels to accelerate the…

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IPCC Finalizes Synthesis Report of the Sixth Assessment Report

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The Intergovernmental Panel on Climate Change (IPCC) announced the finalization of its Synthesis Report of the IPCC Sixth Assessment Report (AR6) during its 58th Session held in Interlaken, Switzerland, March 13-19, 2023. The IPCC also published a Summary for Policymakers (the Summary) in advance of the release of the Synthesis Report, as well as a Longer Report and a Presentation. The Synthesis Report integrates the main findings of the AR6 and provides an overview of the state of knowledge of climate change, its widespread impacts and risks, and climate change mitigation and adaptation. The Synthesis Report has been highly anticipated and is the last of the Sixth Assessment Report products, due for release in time to inform the 2023 Global Stocktake under the United Nations Framework Convention on Climate Change. It provides an unprecedented level of scientific analysis and indicates that there are numerous, feasible, and effective options currently available to reduce greenhouse gas (GHG) emissions and adapt to human-caused climate change. Media reports from the New York Times emphasized that the Earth is likely to cross a critical global warming threshold by 2030 without rapid and drastic reductions in global GHG emissions. Reuters, quoting from the Summary, noted that “there is a rapidly closing window of opportunity to secure a livable and sustainable future for all”. This bulletin briefly highlights key findings of the Synthesis Report included in the Summary. The Summary is divided into the following three sections: Current Status and Trends, which covers the historical and present period.  Future Climate Change, Risks, and Long-Term Responses, which addresses projected futures up to 2100 and beyond. Responses in the Near Term, which considers current international policy timeframes, and the time interval between now and 2030-2040. Current Status and Trends. The Summary notes that: Human activities, principally through emissions of GHGs have unequivocally caused global warming, with global surface temperature reaching 1.1°C above 1850–1900 in 2011–2020,…

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Canada Releases 2030 Emissions Reduction Plan

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Environment and Climate Change Canada (ECCC) today released the 2030 Emissions Reduction Plan (the Plan) under the Canadian Net-Zero Emissions Accountability Act (the Act; read our earlier bulletin on the Act here). The Plan sets out current actions, additional funding of $9.1B, and several new initiatives to meet Canada’s emissions reduction target of 40-45% below 2005 levels by 2030, as provided last year in an update to Canada’s Nationally Determined Contribution (NDC) under the Paris Agreement (read our earlier bulletin on Canada’s updated NDC targets here).   The Plan also sets a new interim objective of reducing GHGs by 20% below 2005 levels by 2026, noting that this interim objective is not an official target akin to Canada’s 2030 NDC, but that progress towards achieving the objective will be a cornerstone of progress reports associated with the Plan in 2023, 2025, and 2027.   This bulletin highlights key parts of the Plan and summarizes the newly announced funding and initiatives, across the following categories: Carbon pricing Clean fuels Clean growth funding Methane Buildings Electricity Heavy industry Oil and gas Transportation Agriculture Waste Nature-based solutions Clean technology and climate innovation Sustainable finance Jobs, skills, and communities Prime Minister Justin Trudeau launched the Plan in an address at the GLOBE Forum in Vancouver earlier today.  Carbon pricing. The Plan notes the measures undertaken to address economy-wide emissions including the federal fuel charge and the Output-Based Pricing System for industrial emitters under the Greenhouse Gas Pollution Pricing Act. Escalating the federal benchmark price to $170 by 2030 is meant to further support the 2030 targets of the federal government along with continued consultations on a possible border carbon adjustment (read our earlier bulletin here). Very significantly, the Plan puts forward the concept of investment approaches, like carbon contracts for differences, which enshrine future price levels in contracts between the federal government and low-carbon…

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