It’s one thing to make sustainability improvements within your own organisation, but it’s another to ensure every business you interact with is also on the sustainability journey. Two new standards launched by the Greenhouse Gas Protocol are hoping to make it all a lot easier. Developed by the World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD), the Corporate Value Chain and Product Life Cycle Standards will enable companies to save money, reduce risks, and gain competitive advantages.
The Corporate Value Chain Standard shows companies the opporuntiies available 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 new standards were created in response to businesses that want to better understand and measure their climate impacts beyond their own operations. WBCSD president Björn Stigson said that as well as helping companies make better business decisions, the standards help “stimulate innovation of products and production methods”.
Find out more about the standards here.