Carbon Footprint according to ISO 14064-1 – National Climate Law

Reducing greenhouse gas emissions has become a key priority for businesses, driven both by legal requirements and by the expectations of the market, customers and investors. The first step towards reducing emissions is to calculate them reliably, that is, to measure the carbon footprint.

The Greek National Climate Law (Law 4936/2022) requires specific categories of companies (among others, listed companies, credit institutions, insurance companies, energy, telecommunications and transport providers, as well as large retail chains) to submit a Carbon Footprint Report to the Natural Environment and Climate Change Agency (NECCA – ΟΦΥΠΕΚΑ) by 31 October each year. Non-compliance results in a fine for each day of delay.

Emissions are calculated in accordance with Annex III of European Commission Recommendation 2013/179/EU, the ISO 14064-1 standard and the Greenhouse Gas Protocol (GHG Protocol).

A few words about the Carbon Footprint

Greenhouse gases are emitted through the production and consumption of goods and services. The carbon footprint is a concept used to quantify the impact of an activity, a person or a country on climate change. It is the total of the main greenhouse gases (CO₂, CH₄, N₂O, HFCs, PFCs, SF₆ and NF₃), expressed as carbon dioxide equivalent (CO₂eq), released into the atmosphere by organisations, processes, products and even events.

The reporting period for measuring the carbon footprint should be 12 months and ideally coincide with the financial year. If the calculation is carried out for the first time, the most recent 12-month period for which suitable data are available is selected.

Calculating the Carbon Footprint

The carbon footprint calculation is based on 3 Scopes:

• Scope 1 – Direct emissions: emissions from activities under the full control of the company/organisation.
• Scope 2 – Indirect energy emissions: mainly from the electricity used by the company/organisation.
• Scope 3 – Other indirect emissions: emissions from activities that are not under the full control of the company but of its partners (staff travel, suppliers, etc.).

 

What is the ISO 14064-1 standard?

ISO 14064-1 is a voluntary standard that can be applied to all businesses without exception. It concerns organisations that aim to better monitor and reduce their greenhouse gas emissions in order to improve their carbon footprint. Climate change has been recognised as one of the greatest challenges facing states, businesses and citizens.

ISO 14064-1 focuses on the measurement, management and preparation of a Carbon Footprint Report for greenhouse gas (GHG) emissions, whose accuracy is verified by an Accredited Certification Body. The Carbon Footprint Report includes:

• Definition of the operational and organisational boundaries of the company: identifies the company’s activities that involve greenhouse gas emissions and their boundaries.
• Emissions calculation methodology: defines the techniques for recording greenhouse gas (GHG) emissions.
• Ensuring transparency and comparability: provides the basis for reliable and comparable emission statements.

 

Why do you need ISO 14064-1 certification?

Certification helps organisations demonstrate their commitment to sustainability and environmental responsibility, offering the following benefits:

• Reduction of GHG emissions: identification of opportunities to limit emissions, based on an accurate initial carbon footprint (base year).
• Energy and operational improvement: development of strategies to reduce energy consumption and costs and, consequently, GHG emissions.
• Enhanced environmental performance: adoption of good practices that promote sustainability.
• Competitive advantage: improvement of the company’s image regarding its environmental commitments, building trust with customers and partners.

By complying with the standard, organisations increase the transparency of their environmental performance and contribute to the global effort to reduce greenhouse gas emissions.

General benefits of calculating and certifying the carbon footprint

• Compliance with mandatory legislation and avoidance of fines (National Climate Law).
• Possibility of participating in an emissions trading scheme.
• Calculation of the carbon footprint and the possibility of reducing it, contributing to sustainable development.
• Improvement of the company’s environmental image and reputation.
• Improvement of environmental awareness.
• Competitive advantage in markets where customers and partners place emphasis on sustainability.

 

The main stages for the verification of the Carbon Footprint Report by the Certification Body

1. Completion of the certification application and annex
2. Application review
3. Contract with the certification body
4. Strategic analysis
5. Risk analysis
6. Issue of the verification plan and programme
7. Verification and recording of any nonconformities
8. Corrective actions, where required
9. Technical review
10. Issue of the verification statement by the certification body

 

Who should seek ISO 14064-1 verification?

Verification is suitable for any organisation that wants to:

• Calculate and reduce its carbon footprint.
• Respond to regulatory requirements and to growing pressure from the market and customers for environmental sustainability.
• Prepare for participation in emissions trading and reduction programmes or comply with voluntary or mandatory programmes.

Verification according to ISO 14064-1 is suitable for both large and small businesses. It provides a flexible and adaptable framework for measuring and managing greenhouse gas emissions, regardless of the size or sector of the business.

Our services

In the context of calculating and managing the carbon footprint, we provide:

• Carbon footprint calculation methodology covering Scopes 1, 2 and 3.
• Preparation and use of relevant tools, templates and questionnaires.
• Training in methodologies and tools.
• Support in the data collection process.
• Preparation of the Carbon Footprint Calculation Report.
• Proposed carbon reduction measures (Carbon Reduction Plan), Cost–Benefit Analysis (CBA), possible funding opportunities, etc.
• Annual monitoring after the 1st calculation report.
• Preparation for certification based on the requirements of ISO 14064-1.
• Compliance with Directive (EU) 2022/2464 of the European Parliament on corporate sustainability reporting (CSRD).