Why do we need a carbon inventory?
Environmental Protection Agency
According to the Environmental Protection Agency's announcement, "Businesses are required to inventory, register, and verify the sources of their greenhouse gas emissions," companies must, in accordance with management regulations, register their inventory results on the Business Greenhouse Gas Emissions Information Platform (referred to as the Information Platform) by April 30th each year..
Financial Supervisory Commission
In accordance with the "Sustainable Development Roadmap for Listed Companies," the Commission will implement a phased approach, with the following milestones：
1. By 2027, all listed companies must complete their greenhouse gas inventory.
2. By 2029, all listed companies must complete the verification of their greenhouse gas inventory.
Supply Chain
Stakeholders with in the supply chain of multinational corporations or domestic industries; both upstream and downstream stakeholders require businesses to prioritize ESG (Environmental, Social, and Governance) issues, compelling companies to respond comprehensively in order to maintain competitiveness.
Export and International Trade
1.The European Union will officially implement the "Carbon Border Adjustment Mechanism" (CBAM) in 2026.
2.The United States introduced the "Clean Competition Act" (CCA) in 2022, which has passed its second reading.
5 Steps to Complete Carbon Inventory and Build Digital Carbon Management Capabilities
The five-step carbon inventory process is a systematic approach to managing corporate carbon emissions. First, define the scope of the inventory, including emission sources and timeframes. Next, gather relevant data on carbon emissions, such as energy consumption. Then, calculate the carbon emissions for each activity. Afterward, analyze the results to identify key emission sources and assess their impact. Finally, develop a carbon reduction action plan based on the analysis to drive sustainable development. These steps help businesses understand their environmental impact and reduce their carbon footprint.
SIDE
Step 01
Define Organizational Boundaries
Through a kickoff meeting, establish the scope of the carbon inventory, including the group, company, plant, production line, and baseline year. The platform supports collaborative data calculations across different
SOURCE
Step 02
Emission Source Identification
Identify the greenhouse gas emission sources within the defined boundaries of the carbon inventory, covering Scope 1, Scope 2, and Scope 3 emissions.
CALCULATE
Step 03
Calculate Greenhouse Gas Emissions
Unit managers can independently maintain and update data, selecting carbon emission factors from the system’s built-in domestic and international coefficient databases to compile and calculate carbon emissions.
Report
Step 04
Emission Inventory
After confirming the data quality, directly use the same data to generate inventories and reports in compliance with different regulatory formats.
Check
Step 05
Internal and External Verification
Third-party organizations conduct verifications to assist over a hundred companies in obtaining ISO 14064-1 verification statements.
What is ISO 14067:2018 Carbon Footprint?
ISO 14067:2018 is an international standard that requires organizations to conduct a comprehensive greenhouse gas emissions assessment, covering stages such as raw material sourcing, manufacturing, usage, and disposal of products. It helps organizations understand the impact of their products on climate change, reduce emissions, and improve the environmental performance of their products. This standard applies to a wide range of products and organizations.
4-Step Calculation of Carbon Footprint Throughout the Product/Service Lifecycle
STEP 01
Create a Process Map
Define the lifecycle map for the product, and subsequently confirm the scope for footprint calculation and analysis.
STEP 02
Confirm Scope Boundaries and Priorities
Depending on the product and service business model, customer requirements, and regulations in the markets where the products are sold, different boundaries and priorities must be defined.
STEP 03
Collect Data
Use the most recent year as the primary baseline. When collecting data, ensure its relevance, quality, accuracy, and consistency.
STEP 04
Calculate Carbon Footprint
This includes the total direct and indirect greenhouse gas emissions.
