Global Carbon Council (GCC) Accounting: A Detailed Overview with case study
The Global Carbon Council (GCC) is a carbon credit certification program that supports carbon emission reductions. It enables project developers to earn certified carbon credits by implementing sustainable projects. GCC accounting revolves around the processes, standards, and methodologies for tracking, verifying, and managing carbon credits within the program. Key Features of GCC Accounting Carbon Credit Certification : GCC certifies greenhouse gas (GHG) emission reductions from projects. These credits are aligned with international standards like the Clean Development Mechanism (CDM) under the Kyoto Protocol and voluntary carbon markets. Accounting Standards : Adheres to frameworks such as the Greenhouse Gas Protocol and ISO 14064 . Focuses on Scope 1, Scope 2, and Scope 3 emissions: Scope 1: Direct emissions from owned or controlled sources. Scope 2: Indirect emissions from purchased electricity, heat, or steam. Scope 3: Indirect emissions in the value chain. Market Relevance : G...