The GHG Protocol for Project Accounting (Project Protocol) provides specific principles, concepts, and methods for quantifying and reporting GHG reductions—i.e., the decreases in GHG emissions, or increases in removals and/or storage—from climate change mitigation projects (GHG projects). The Project Protocol’s objectives are to:
- Provide a credible and transparent approach for quantifying and reporting GHG reductions from GHG projects;
- Enhance the credibility of GHG project accounting through the application of common accounting concepts, procedures, and principles; and
- Provide a platform for harmonization among different project-based GHG initiatives and programs.
Who should use this standard?
The Project Protocol is written for project developers, but should also be of interest to administrators or designers of initiatives, systems, and programs that incorporate GHG projects, as well as third-party verifiers for such programs and projects. Any entity seeking to quantify GHG reductions resulting from projects may use the Project Protocol. However, it is not designed to be used as a mechanism to quantify corporate or entity wide GHG reductions; the Corporate Accounting Standard should be used for that purpose.
GHG projects can be undertaken for a variety of reasons, including generating officially recognized GHG reduction “credits” for use in meeting mandatory emission targets, obtaining recognition for GHG reductions under voluntary programs, and offsetting GHG emissions to meet internal company targets for public recognition or other internal strategies.
Compatibility with other GHG Programs
Though the Project Protocol is intended to be compatible with all of these purposes, using it does not guarantee a particular result with respect to quantified GHG reductions, or acceptance or recognition by GHG programs that have not explicitly adopted its provisions. Users are strongly encouraged to consult with relevant programs or the India GHG Program experts and the Program Secretariat.