Increasingly, companies are turning to a standardized approach and format for greenhouse gas (GHG) reporting. A recent study indicates that 63% of Fortune 500 companies are using the GHG Protocol -  long recognized as the de facto international standard.

Consistency in GHG reporting offers two key benefits, not just for stakeholders but also for the businesses themselves:

1. It streamlines the data collection process. If you know what you need to report you can focus the data collection effort.
2. It provides a consistent view of company performance. The ability to compare companies within and across each industry sector and from year to year is essential for stakeholders and internal management teams.

Whatever your strategy for GHG reporting, know this: Reporting on climate impact is fast becoming an expected part of doing business, and this data will be scrutinized as rigorously as the financial numbers submitted each quarter by CFOs and senior management. Will your current methodology pass the test?

__________

Will Sarni is CEO of sustainability consulting firm DOMANI. He is also SLM's expert-in-residence on climate strategy and the host of Climate Management Weekly.