ERC Evolution GHG Inventory Workshop with Nephin Energy
We are thrilled to have completed two half-day GHG workshops with Nephin Energy to provide the knowledge required as they set climate action and sustainability goals for the business. The workshop involved a series of presentations interspersed with interactive sessions, where the Nephin team all got involved to come up with their emissions road map for the future. Team members from Nephin’s financial backers also attended.
On the first day, the ERC Evolution team discussed which emissions Nephin will need to report. This topic included an overview of a GHG inventory system and its different components, operational and equity reporting boundaries, and classification of emissions into scope 1, 2 and 3 buckets. We then went on to discuss the different reporting standards including GHG Protocol, ISO 14064 and IPIECA, and which of these Nephin may wish to adopt. Once we had established a standard, the next question was where to report to. We discussed in detail the different voluntary ESG reporting standards and which is most suited to Nephin when considering their company values and stakeholder expectations.
Day two we started off discussing the inner workings of different emission trading schemes around the world and how these impact Nephin as a company. After that we dived into the rationale behind net zero and carbon neutrality and what is really means to commit to one or the other. Finally, we discussed carbon offsets and voluntary emissions trading, before concluding the workshop with identification of steps and timeline to devise Nephin’s Climate Action strategy.