ISO 14080:2018, Greenhouse gas management and related activities— Framework and principles for methodologies on climate actions
ISO 14080:2018 provides guidance to countries and other interested parties on a consistent, comparable and transparent approach to selecting, proposing, using, revising and maintaining methodologies on climate action. These methodologies are designed to be reproducible and aim to help climate action and its ambitious goals to be achieved. The developed framework can be used to identify potential and justifiable actions for both climate change mitigation and adaptation. This document supports many objectives, such as:
— engaging on a voluntary basis in cooperative approaches that involve the use of internationally transferred mitigation outcomes towards nationally determined contributions;
— promoting sustainable development and ensuring credibility and transparency, including in governance;
— increasing accountability to ensure, for example, the avoidance of double counting;
— setting goals for enhancing adaptive capacity, strengthening resilience and reducing vulnerability to climate change;
— contributing to sustainable development and ensuring an adequate adaptation response in the context of the temperature goal;
— cooperating internationally on adaptation efforts, recognizing the importance of taking into account the needs of developing countries.
ISO 14097:2021, Greenhouse gas management and related activities — Framework including principles and requirements for assessing and reporting investments and financing activities related to climate change
ISO 14097:2021 specifies a general framework, including principles, requirements and guidance for assessing, measuring, monitoring and reporting on investments and financing activities in relation to climate change and the transition into a low-carbon economy. The assessment includes the following items:
— the alignment (or lack thereof) of investment and financing decisions taken by the financier with low-carbon transition pathways, adaptation pathways, and climate goals;
— the impact of actions through the financier’s investment and lending decisions towards the achievement of climate goals in the real economy, i.e. mitigation (greenhouse gas emissions) and adaptation (resilience);
— the risks to owners of financial assets (e.g. private equities, listed stocks, bonds, loans) arising from climate change.
To support the financier’s assessment of the impact of investment and lending decisions, this document provides guidance for the financier on how to:
— set targets and determine metrics to be used for tracking progress related to the low-carbon transition pathways of investees;
— determine low-carbon transition and adaptation trajectories of investees;
— document the causality or linkage between its climate action and its outputs, outcomes and impacts.