Carbon Counting

Know your footprint and implement decarbonization strategies

Greenhouse Gas Consulting

Futurepast assists organization to identify and address strategic issues related to climate change, including direct and indirect impacts from the effects of climate change, regulatory risks, changes in consumer preferences, and reputational risk. We also assist organizations to decide what greenhouse gas information to disclose and how to disclose it. With increased consumer interest in greenhouse gas information and climate change mitigation, companies increasingly are asked to quantify greenhouse gas emissions applicable to particular products or services.

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Greenhouse Gas Accounting

Futurepast assists organizations with internal and external reporting of greenhouse gas information for inventories and projects, and for calculating the carbon intensity of products (also called the “carbon footprint” of products). Futurepast helps organizations comply with greenhouse gas regulations at both the state and federal levels, as well as with the accounting of information intended for voluntary disclosure.

As of October 1, 2023, exporters of certain products to the European Union are obliged by the EU’s Carbon Border Adjustment Mechanism (CBAM) to begin reporting the volume of their imports and the embodied GHGs in those products as of Q4 2023. Affected exporters can rely on Futurepast to help them meet these reporting requirements.

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SEC Climate-Related Disclosures

The Securities and Exchange Commission (SEC) published draft final rules in March 2024 requiring listed companies to disclose their scope 1 and 2 greenhouse gas (GHG) emissions and other climate -related information. In April 2024, however, the Commission paused their implementation pending judicial review in the wake of multiple legal challenges to them.

The SEC’s final rule, when implemented, will require registrants to report only scope 1 and scope 2 emissions. The SEC dropped in the draft final rule the requirement to report scope 3 emissions, when these are material, or when the registrant has set a GHG target that includes scope 3 emissions.

The final rule would require large accelerated filers (LAFs) and accelerated filers (AFs) to obtain limited assurance attestations on the accuracy of their greenhouse gas emissions beginning the third fiscal year after the compliance date for GHG emissions reporting. LAFs would be required to obtain a reasonable assurance attestation beginning the seventh fiscal year after the compliance date for GHG emissions reporting.

In contrast to the proposed rule, the final rule would allow ISO 14064-3 to serve as the attestation standard. Futurepast’s John Shideler was a prominent contributor to the writing of this standard.

The disclosure of material physical and transition risks are also addressed in the draft final rule. So are financial statement disclosures when capitalized costs, expenditure expenses, charge, loss or recovery exceed certain thresholds.

Futurepast consultants and verifiers qualify under the draft final rule as experts in GHG emissions quantification, measurement, analysis, reporting and attesting. Our services include both consulting and third-party verification in these scopes of work.

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Greenhouse Gas Verification

Futurepast provides greenhouse gas verification services to satisfy an organization’s requirements for internal auditing of the greenhouse gas information and information systems. Our services are also available to organizations that wish to verify the greenhouse emissions information and management systems of their supply chain. We also validate and verify emission reductions and removal enhancements from GHG and carbon removal projects.

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Non-Financial Disclosure

The Task Force on Climate-related Financial Disclosures[1] has recommended that financial sector businesses increase their reporting on corporate governance, strategy, risk management and metrics and targets. Such reporting, carried out in conjunction with “scenario analysis” that forecasts business conditions under differing degrees of global warming, provides investors with information they need to make prudent decisions.

Futurepast supports businesses that engage in planning for a decarbonizing future that incorporates greenhouse gas emission reductions, adaptation to the effects of climate change, and demonstration that business strategies will deliver intended results. In addition to providing help with TCFD, Futurepast also offers assistance for organizations reporting on other platforms such as CDP and GRI.

Futurepast’s John Shideler has participated in the development of an International Standard, ISO 14097, Framework including principles and requirements for assessing and reporting investments and financing activities regarding climate change, published in May 2021.

Corporate sustainability reports highlight environmental and climate change information that is material to stakeholders. Greenhouse gas inventories include energy use and purchased electricity, and to an increasing degree, supply chain emissions. Climate change mitigation and adaptation strategies are also subjects that sustainability reports typically report on.

Futurepast’s president John Shideler is currently participating in the development of ISO 14019, Validation and verification of sustainability information. The first three parts of this standard are expected to be published in 2025.

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A Concerted Aviation Effort

Aircraft manufacturers and airline operators are also pursuing carbon emission reductions. Improvements in engine technology and operational changes will help reduce fuel burn. Expanded use of sustainable alternative fuels will further reduce CO2 emissions. Working together, the aviation sector can achieve carbon neutral growth from 2020.

For information about Futurepast’s services in the aviation sector, please call 888-358-9047 (toll-free in the US and Canada) and speak with a Futurepast consultant today.

Seven Ways and Means You Can Reduce Carbon

Define Your Carbon Strategy

Your organization is assessing its carbon risks and opportunities. Management wants to minimize the impacts of direct threats from climate change, new regulatory requirements, changing market preferences, and chart a course toward a less carbon-intense future. You need a carbon strategy.

Futurepast can facilitate planning and decision-making within an organization to reduce carbon emissions, mitigate impacts from climate change, assess strategic opportunities, and respond to changing market preferences.

Quantify Your Organization’s Carbon Emissions

Management wants information about its GHG emissions at the organizational level or at the facility level to help implement its carbon strategy. You need a greenhouse gas inventory.

Establishing a GHG inventory helps your organization in the following ways:

Aggregates information from the source or unit level to facility and organizational levels to facilitate management analysis and review
- Permits comparisons of energy use and carbon intensity among similar operating units
- Provides information for mandatory reporting to the US EPA under the Clean Air Act Part 98
- Informs disclosure to such agencies as the Securities and Exchange Commission or through such means as corporate sustainability reports.

Futurepast can help you develop an energy use profile and greenhouse gas inventory at the facility or corporate level.

Develop a GHG Emission Reduction Project

You are developing a forestry, landfill gas, or livestock manure management project. You want help planning and implementing the project, selecting a verification body, and selling your offset credits. You need carbon offset project assistance.

Futurepast can help your organization manage its carbon offset project by ensuring that all applicable project requirements are understood, monitored, complied with and documented.

Calculate Your Product’s Carbon Footprint

Your customers, whether end-users or manufacturing or distribution partners, want to know the quantity of GHG emissions that are associated with your product or service. You need a carbon footprint. A carbon footprint expresses the mass of GHGs that can be allocated to a product unit or service, usually in grams per unit. Carbon footprint information is used for strategic planning purposes, for achieving compliance with international legal requirements or with customer information requests, and for marketing your products. Carbon footprint information represents a form of environmental claim and is created using a modified life cycle assessment methodology. Carbon footprint claims should be reviewed for compliance with Federal Trade Commission laws and regulations.

Futurepast can assist your organization with life cycle assessments and the formulation of environmental product declarations and other environmental claims.

Verify Your Quantified GHG Emissions

You have established an energy use profile and GHG inventory for your organization but want assurance that the quantification is accurate. You need verification of your greenhouse gas emissions. Verification is performed by a greenhouse gas verifier who audits both the processes by which your GHG emissions have been quantified and the results of those processes. Futurepast delivers a Verification Statement which expresses our opinion concerning the conformity of the inventory to applicable accounting rules and the accuracy of the inventory amounts, which typically are consolidated across units or facilities and expressed in metric tons of carbon dioxide equivalent (CO2-e).

Futurepast can verify your greenhouse gas emissions in accordance with ISO 14064 Part 3, Greenhouse gases—Specification with guidance for the validation and verification of greenhouse gas assertions, as well as any other applicable reporting and verification criteria.

Comply with Mandatory GHG Emissions Reporting Requirements

You are subject to the US Environmental Protection Agency’s mandatory reporting of GHG emissions under the Clean Air Act and one or more state or provincial programs. You want help quantifying your emissions, analyzing your fuel use, or developing a monitoring plan that meets the requirements of 40 CFR Part 98 of the Clean Air Act and the applicable requirements of relevant states or provinces. You need greenhouse gas regulatory compliance assistance.

Futurepast can help you comply with 40 CFR Part 98 of the Clean Air Act of the United States, and with additional state and provincial legal requirements.

Devise a Management System to Support Your GHG Information Needs

You want to make counting carbon easier and more efficient. You know your organization and your supply chain have a lot of useful information to help you count carbon, but you’re finding the information hard to locate and organize. You want to optimize the management system you currently have and to integrate your carbon counting requirements into your information systems and support processes. You need management system consulting services.

Futurepast can help you enhance your management system to ensure reliable and reproducible reporting of energy use and greenhouse gas emissions.

[1] The Task force on Climate-related Financial Disclosures was created in 2015 by the Financial Stability Board of the Group of 20 industrialized nations. It published its final report in 2016. By July 2019 more than 800 companies and other organizations had expressed support for TCFD’s recommendations.