Standards-setting organizations the International Organization for Standardization (ISO) and Greenhouse Gas Protocol (GHG Protocol) announced the finalization of a new Joint Working Group (JWG) for the development of an updated and harmonized product-level GHG accounting standard.

The formation of the new working group follows the launch last year of a strategic partnership between ISO and GHG Protocol, aimed at unifying the global standards used for greenhouse gas emissions measurement and reporting. The organizations said at the time that the partnership would look to address the fragmentation of standards and policies as a barrier to climate action, by providing a harmonized global language for emissions accounting, simplifying processes for companies, increasing consistency for policymakers, and generally reducing measurement and reporting burdens.

Under the partnership ISO and GHG Protocol have agreed to harmonize their existing portfolios of GHG standards, and to work together to co-develop new standards for carbon accounting. One of the partnership’s core priorities was the development of a joint product carbon footprint standard, to meet growing demand by companies for more granular value chain data to help guide decarbonization decisions.

According to the organizations, the new product-level GHG accounting standard will build on ISO and GHG Protocol’s existing frameworks, maintaining continuity, while advancing toward a unified global methodology, in order to promote credible decarbonization strategies, providing a tool to enhance market transparency, and enable implementation of mechanisms such as Carbon Border Adjustment Mechanisms (CBAMs).

GHG said that it received more than 450 submissions for the new JWG, including applicants from over 50 countries and 410 organizations. Members of the finalized group include representatives from academia, government, accounting organizations and companies including Unilever, Amazon, SGS, Volkswagen, GE Vernova, WAP Sustainability, SAP, BMW Group, and others.

Amir Safaei, GHG Protocol’s Co-Convener of the Product Working Group said:

“This Joint Working Group is a key pillar of the ISO and GHG Protocol partnership. We are grateful for all those who have volunteered their time to participate in the nomination process and support our shared goal of harmonization. We are delighted about the work already underway and look forward to continuing our engagement with all experts in this space to ensure credible and implementable outcomes.”