Q. What is Greenhouse Gas Protocol?

• It is an international accounting tool for government and business leaders to understand, quantify and manage greenhouse gas emissions
• It is an initiative of the United Nations to offer financial incentives to developing countries to reduce greenhouse gas emissions and to adopt eco-friendly technologies
• It is an inter-governmental agreement ratified by all the member countries of the United Nations to reduce greenhouse gas emissions to specified levels by the year 2022
• It is one of the multilateral REDD+ initiatives hosted by the World Bank

Answer: (a) It is an international accounting tool for government and business leaders to understand, quantify and manage greenhouse gas emissions.

Green House Gas Protocol

• The Greenhouse Gas Protocol (GHG Protocol) is the most widely used international accounting tool for government and business leaders to understand, quantify, and manage greenhouse gas emissions.
• The GHG Protocol, a decade-plus partnership between the World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD), is working with businesses, governments, and environmental groups around the world to build a new generation of credible and effective programs for tackling climate change.
• It provides the accounting framework for nearly every GHG standard and program in the world – from the International Standards Organization to The Climate Registry – as well as hundreds of GHG inventories prepared by individual companies.
• The GHG Protocol offers an internationally accepted management tool to help businesses to compete in the global marketplace and governments to make informed decisions about climate change.