The Energy and Resources Institute – Business Council for Sustainable Development (TERI-BCSD), The Energy and Resources Institute (TERI), and the World Resources Institute (WRI) organized a stakeholder dialogue on Corporate GHG Accounting in India on February 2nd, 2011.
The event was held on the sidelines of the World CEO Forum 2011 and was the first formal consultation of a project between TERI and WRI. The partnership aims to build capacity on corporate GHG accounting and gain an appreciation of the necessary steps required for developing a national GHG program.
CEOs from businesses such as Ingersoll-Rand India, BASF India Ltd, Shree Cement Ltd, and EG Gas Ltd as well as senior representatives from several other companies participated in the dialogue. Following overview presentations from WRI and TERI, the discussions focused on the merits of GHG accounting and inventorization where the motto “If you can’t measure, you can’t manage” was stressed. It was clear that businesses were focused on climate change and were eager to explore some of the next steps to voluntarily measure and disclose their emissions.
It was agreed that the form of any such initiative on GHG inventories would need to be voluntary and developed in an integrated manner with existing reporting requirements relating to sustainability and energy metrics. The importance of standardization was emphasized with a greater use of the GHG Protocol Corporate Standard being affirmed. The event also discussed how best to incorporate and assist Small and Medium Enterprises (SMEs) in any accounting framework developed.
Participants unanimously called for an industry-led, voluntary GHG program to build and institutionalize GHG accounting capacity within the country. They called for such a program to provide support to companies by providing customized tools and other resources and also to provide a credible platform to communicate success stories in GHG management.
As part of the TERI-WRI project, the frameworks for establishing a voluntary pilot initiative will be developed in consultation with TERI-BCSD member companies as well as other interested companies who are not members.