ISO 14064: GHG Accounting and Verification

What It Is

ISO 14064 is a three-part international standard for greenhouse gas accounting and verification, published by ISO and most recently revised in 2018-2019. It provides a internationally recognized framework for quantifying, monitoring, reporting, and verifying GHG emissions and removals at both organizational and project levels.

ISO 14064-1: Organization Level specifies principles and requirements for designing, developing, managing, reporting, and verifying an organization's GHG inventory. It covers direct emissions (comparable to Scope 1), energy indirect emissions (Scope 2), and other indirect emissions (Scope 3), using a categorization system aligned with but not identical to the GHG Protocol.

ISO 14064-2: Project Level specifies principles and requirements for determining baselines, monitoring, quantifying, and reporting GHG emission reductions and removal enhancements from specific projects. This is relevant for carbon offset projects, reduction initiatives, and project-level claims.

ISO 14064-3: Validation and Verification specifies principles and requirements for verifying GHG assertions. It provides the framework that verification bodies use to assess whether GHG inventories and project claims are accurate, complete, and consistent. This part is used by accredited verification bodies worldwide.

Together, the three parts create a complete system: measure (Part 1 or 2), verify (Part 3), and report with credibility.

Who Uses It

• Organizations requiring third-party verified emissions data — for regulatory compliance, carbon trading, or stakeholder credibility
• Companies subject to CSRD — where external assurance of emissions data is mandatory
• Carbon market participants — project developers and buyers requiring ISO 14064-2 for project-level accounting
• Government agencies implementing GHG reporting programs
• Verification bodies — accredited entities use ISO 14064-3 as their verification standard
• Organizations in jurisdictions where ISO standards are preferred over GHG Protocol (parts of Asia, Middle East)

Key Requirements

ISO 14064-1 (Organization Level):

• Define organizational and operational boundaries
• Identify and categorize GHG sources and sinks
• Quantify GHG emissions and removals using recognized methodologies and emission factors
• Develop a GHG management plan including base year, recalculation policy, and uncertainty assessment
• Prepare a GHG report meeting specified content requirements
• Consider verification as part of the reporting process

ISO 14064-2 (Project Level):

• Define the project baseline scenario
• Monitor and quantify GHG emission reductions or removal enhancements
• Assess and manage uncertainty
• Report project-level GHG performance
• Subject claims to validation and verification

ISO 14064-3 (Verification):

• Plan and execute verification engagement following specified procedures
• Assess materiality and risk
• Evaluate evidence using sampling and testing techniques
• Provide a verification opinion (reasonable or limited level of assurance)

How to Implement

Phase 1: Boundary Definition (2-4 weeks) Define organizational boundary (equity share or control approach). Define operational boundary (which emission categories to include). Align with GHG Protocol scopes if dual-reporting.

Phase 2: Inventory Development (2-4 months) Identify all GHG sources and sinks. Collect activity data. Apply emission factors. Calculate emissions. Assess uncertainty. Document methodology and data sources.

Phase 3: Quality Management (1-2 months) Establish data quality management procedures. Implement internal review processes. Address data gaps and quality issues. Prepare for external verification.

Phase 4: Verification (1-3 months) Select an accredited verification body. Undergo verification process (planning, document review, site visits, evidence testing). Address any findings. Receive verification statement.

Relationship to Other Frameworks

GHG Protocol: ISO 14064-1 and GHG Protocol Corporate Standard are largely compatible. Many organizations use GHG Protocol methodology and have their inventory verified under ISO 14064-3. Key differences exist in categorization (ISO uses indirect emission categories rather than the Scope 1/2/3 terminology, though the 2018 revision improved alignment).

SBTi: SBTi accepts GHG inventories prepared under either GHG Protocol or ISO 14064.

CSRD/ESRS: ESRS requires assurance of sustainability data including GHG emissions. ISO 14064-3 provides a recognized verification framework.

Carbon markets: ISO 14064-2 and 14064-3 are used across voluntary and compliance carbon markets for project-level accounting and verification.

Why It Matters

ISO 14064 matters because it provides the verification framework that makes GHG data credible. As sustainability reporting moves from voluntary to mandatory — and from self-reported to externally assured — the importance of standardized verification methodologies increases dramatically.

The GHG Protocol tells you how to measure. ISO 14064-3 tells verifiers how to check. As CSRD, ISSB, and other frameworks require assurance of emissions data, ISO 14064 becomes the quality assurance layer that ensures climate claims can withstand scrutiny.

For organizations in carbon markets — whether selling credits from reduction projects or purchasing offsets — ISO 14064-2 provides the project-level accounting rigor needed for credible claims. In a market plagued by quality concerns, ISO 14064 verification provides essential credibility.