Understanding CFO & CFP Platforms: Reporting Organizational and Product Carbon Footprints
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As global warming intensifies, countries worldwide are awakening to the urgent need for businesses to prioritize sustainability alongside profitability. Today's successful enterprises are leading efforts to reduce greenhouse gas emissions and pave the way towards a sustainable future.
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What's carbon credits?
Carbon Credit is a measurement of greenhouse gas emissions reductions or removals from projects or activities. These reductions are quantified in terms of carbon dioxide equivalent (CO2e) and can be traded in the market to compensate for emissions elsewhere.
The quantifiable reduction or sequestration of greenhouse gases achievable through projects aimed at reducing greenhouse gas emissions on a project level. This mechanism is considered a voluntary sector, measured in "tonnes of carbon dioxide equivalent". It can utilize various renewable energy sources such as solar energy production, wind energy, hydropower, biomass energy production, energy efficiency projects, afforestation, and forest conservation, among others. These projects must adhere to the criteria and processes of each standard when implemented.
How greenhouse gas emissions measured?
There are now multiple platforms capable of reporting organizational greenhouse gas emissions (Carbon Footprint for Organization Platform: CFO Platform) and product carbon footprint that help facilitate and promote organization-level carbon footprint reporting or in product terms. This can be used as a management tool towards achieving net zero greenhouse gas emissions to assess the amount of emissions and greenhouse gas uptake by an organization. Use the results to guide energy use reduction and greenhouse gas efficiency.
We believe that private sector entities are considered a significant mechanism driving greenhouse gas emissions reductions in Thailand toward achieving net zero greenhouse gas emissions in the future. Developing digital CFO reporting platforms will elevate them to net zero organization certification, which will enable business sector organizations to effectively manage greenhouse gas emissions at the organization level, sustainably and continuously, by clearly setting goals and timelines for implementation.
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