The future of carbon reporting is becoming clearer and more connected. As global climate disclosure expectations continue to evolve, the world's two most widely used carbon frameworks, the Greenhouse Gas Protocol and ISO, are taking a significant step towards a single approach.
Toitū monitors and contributes to these developments through international standards engagement and consultation processes.
Our Chief Science and Integrity Officer, Belinda Mathers, sits on the New Zealand ISO working group responsible for organisational greenhouse gas quantification and reporting, helping ensure New Zealand business perspectives are reflected in global discussions.
What just changed?
The Greenhouse Gas Protocol (GHGP) has announced it will combine its corporate carbon accounting standards with ISO 14064-1 to create a single global corporate greenhouse gas accounting standard.
At the same time, GHGP has released feedback from its Scope 2 consultation and provided an update on the development of its new Actions and Market Instruments (AMI) framework. Toitū participated in the Scope 2 consultation process and continues to track developments closely.
Overall, the move aims to standardise emissions reporting globally, improve consistency across markets, and create a more transparent way for organisations to report both emissions and climate actions.
Why it matters
- Greater alignment across global markets:
New Zealand organisations reporting to international customers, investors, regulators, and supply chain partners may eventually work from one globally recognised carbon accounting framework rather than navigating multiple standards. - Potential changes to renewable electricity claims:
The ongoing review of Scope 2 accounting signals that rules around renewable electricity purchases, certificates, and contractual instruments may evolve. This could affect how organisations account for and communicate emissions reductions. - Increased transparency expectations:
The proposed AMI framework would separate physical emissions from market-based claims and climate action impacts, providing stakeholders with a clearer picture of organisational performance. - Better comparability across organisations:
A harmonised standard should make it easier for customers, investors, and procurement teams to compare emissions performance across companies – that will be particularly helpful for scope 3 value chain emissions. - Growing focus on evidence-based climate claims:
The direction of travel is clear. Organisations will increasingly need robust data and transparent reporting to support sustainability commitments and decarbonisation claims.
Our take
This announcement signals a shift toward a more mature phase of carbon accounting, where transparency, comparability and credible action matter just as much as measurement.
For New Zealand businesses, the bigger signal is that global reporting expectations are becoming more aligned. While the proposed changes are still under development, they point toward a future where organisations may need to provide a clearer picture of their emissions, climate actions and progress over time. Businesses that already have strong emissions data, credible reduction plans and transparent reporting practices will be well positioned as standards continue to evolve.
This also reinforces a broader global trend: climate reporting frameworks are converging. The days of fragmented reporting approaches are gradually giving way to harmonised standards that support greater consistency across markets and supply chains.
These developments are informing the evolution of Toitū’s climate programme and advisory services, including emerging guidance around market-based instruments such as our recent work on sustainable aviation fuel certificates.
What to do next
- Monitor Scope 2 developments, particularly if your organisation relies on renewable electricity contracts, certificates, or other market-based mechanisms.
- Review how you communicate climate performance; in future you may want to distinguish between actual emissions reductions, market-based claims, and climate investments.
- Strengthen emissions data and governance processes now so your organisation is prepared for future reporting requirements and stakeholder expectations.
If you’re on the science-based Toitū Climate Impact Programme, which is accredited to internationally recognised ISO standards, you’re well supported for addressing the checkpoints listed above. Clients can have confidence that our team will provide timely guidance as these new standards take shape.
Closing thoughts
The consolidation of GHG Protocol and ISO standards represents a significant step toward a unified global carbon accounting system.
While major reporting changes are still under development, the direction is clear: greater transparency, stronger comparability, and increased scrutiny of how organisations account for and communicate both emissions and climate action.
For New Zealand businesses, now is the time to ensure reporting practices can stand up to a more rigorous and globally aligned future.
If you’re a Toitū client and would like to discuss the role of GHG P and ISO standards in you climate strategy — reach out to your dedicated Programme Lead or our Client Support Team at support@toitu.co.nz, or call 0800 366 275 (option 2) at any time.
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Javier Aylwin
Primary Industries, Manufacturing & Transport
