Sustainability now: GHG Protocol -What could change?

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May 22, 2025

Marcin Olewinski, a PwC Assurance practice partner and chair of the Global GSU Working Group, dives into the transformative updates to the GHG Protocol. He discusses the significance of proposed changes in corporate standards and Scope 2 and 3 reporting, emphasizing their implications for compliance. Olewinski navigates complexities around emissions reporting, including organizational boundaries and market instruments. With a critical 2025 deadline on the horizon, he underscores the urgency for stakeholders to adapt to new regulations in sustainability reporting.

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INSIGHT

GHG Protocol's Outdated Standards

The GHG Protocol, launched in 1998, remained largely unchanged for over a decade until recently.
This old standard faces challenges aligning with newer regulatory frameworks, necessitating an update.

INSIGHT

Governance Overhaul Boosts Credibility

The GHG Protocol revamped its governance to include a steering committee, independent standard board, and four technical working groups.
This enhances standard credibility and aligns it with recognized accounting standard processes.

INSIGHT

Clarifying Organizational Boundaries

Organizational boundary determination introduces optional methods causing inconsistencies in emissions reporting.
Clarifying and possibly standardizing the financial and operational control definitions could improve reporting consistency.

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A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com

We're excited to share another video edition of our podcast on sustainability reporting—watch along as our sustainability specialists dive into the latest developments.

As sustainability reporting evolves, the GHG Protocol is undergoing its first major update in over a decade. In this episode, we break down the proposed revisions to the Corporate Standard, Scope 2 Guidance, and Scope 3 Standard—highlighting what changes are being considered, why they matter, and how they could impact future reporting frameworks.

In this episode, we discuss:

2:26 – The significance of the GHG Protocol and the recent overhaul to its governance and standard setting process
8:58 – Key focus areas of the four technical working groups (Corporate, Scope 2, Scope 3, Market Instruments)
14:20 – Debates as to the starting point of emissions reporting: organizational boundaries
20:17 – Scope 3 reporting and integration into the Corporate Standard
24:53 – Complex judgments in reporting scope 3, category 15 (Investments): Financed emissions
28:41 – Scope 2 methodology updates: market-based versus location-based emissions
39:08 – New questions about market instruments and project-based actions
44:33 – Timeline for proposed updates and what stakeholders should do now

Looking for more on GHG emissions reporting?

Watch or listen in to our recent video podcasts on GHG reporting, Sustainability now: GHG measurement made manageable and Sustainability now: GHG reporting questions answered
Check out our GHG podcast miniseries, Talking GHG, along with other Sustainability now episodes
Read chapter 7 of PwC’s Sustainability reporting guide, Greenhouse gas emissions reporting
Follow our series and subscribe to our weekly newsletter to stay in the loop

Guest: Marcin Olewinski - PwC Assurance practice partner

Host: Heather Horn - PwC National Office Sustainability and Thought Leader

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com