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Talking ESG: PwC’s perspectives on enhancing the GHG Protocol
Publication date: 16 Mar 2023
us Podcast
We discuss our feedback to the GHG Protocol in response to its recent initiative to update the standards.
GHG Protocol is one of the most widely known and applied sustainability reporting frameworks. Even as ESG reporting continues to increase in prominence with proposed disclosures from the European Union as part of the Corporate Sustainability Reporting Directive (CSRD), internationally by the International Sustainability Standards Board (ISSB), and in the United States by the Securities and Exchange Commission (SEC), the criticality of GHG Protocol is reinforced by its incorporation in each of these “big three” proposals.
In light of this changing landscape, the GHG Protocol has undertaken a process to survey stakeholders and determine what updates are needed to its protocol, standards, and guidance. Heather Horn was joined by Marcin Olewinski, a PwC Trust Solutions partner, to unpack the key points of feedback contained in PwC’s comment letter on the GHG Protocol’s open consultation. Heather and Marcin both led PwC’s global working group on developing our comments.
In this episode, you’ll hear discussion of:
- 1:58 - The importance of governance of the GHG Protocol for long-term operability
- 10:38 - Our view that measurement, recognition, and baseline disclosures should form the building blocks of the standards
- 16:40 - Suggestions for structuring and organizing the standards for ease of use
- 19:17 - Dealing with disparities in data quality and availability through transparent disclosures
- 23:51 - The importance of aligning organizational boundaries, lease accounting, and other areas in the Protocol with financial reporting
- 32:21 - Recommendations to improve Scope 2 reporting
- 39:57 - Final perspectives on aligning GHG reporting with financial reporting
Interested in the contents of our comment letter to the GHG protocol? Read it here.
About our guest
Marcin Olewinski is a partner in PwC’s Trust Solutions practice, with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas and sustainability reporting.
About our host
Heather Horn is PwC’s National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.
PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.
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