IPIECA and The American Petroleum Institute (API) launches Estimating petroleum industry value chain (Scope 3) greenhouse gas emissions, an overview of methodologies to inform oil and gas companies on value chain greenhouse gas (GHG) emissions estimation and approaches.
Over the past several years, GHG accounting and reporting has been expanding from focusing on emissions from direct operations to including GHG emissions along the corporate value chain. Improving the understanding of GHG impacts that encompass company-related emissions throughout the value chain allows companies to promote improved management of GHG-related risks and opportunities.
The document outlines a number of approaches used by the oil and gas industry to estimate scope 3 emissions, and complements and provides industry context to existing standards and guidance documents. Much of the material draws on the World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD) GHG Protocol Scope 3 Standard.
The overview of methodologies is an accessible, informative and detailed piece of work, which addresses each of the 15 scope 3 categories included in GHG Protocol Scope 3 Standard. It is organized into sections to include a high-level overview of scope 3 accounting elements, category specific considerations, optional assurance considerations and potential scope 3 reporting elements, including how this fits into the IPIECA/API/IOGP Sustainability Reporting Guidance.