WCF Introduces First GHG Accounting Standard for Cocoa Industry
The standard helps cocoa companies report their emissions consistently by improving accuracy, comparability, and transparency.
Supports companies in meeting evolving regulations and helps farmers reap benefits from carbon projects.
The World Cocoa Foundation (WCF), an international membership organisation that works towards making the cocoa sector more sustainable, has launched a new greenhouse gas (GHG) accounting standard in partnership with Quantis, a global environmental sustainability consulting firm.
The aim is to establish a unified approach for cocoa companies to measure and report their GHG emissions. This is the first time that a standardised method has been introduced to track the environmental impact of cocoa production with the help of Quantis.
This comes at a time when the cocoa sector is dealing with complex issues in its supply chain. For example, cocoa farming involves clearing forests and land; large companies often buy from multiple suppliers, making emissions tracking harder; and inconsistent reporting by companies makes it difficult to compare and analyse data.
READ MORE: Smithfield Foods Launches GHG Reporting System
The new guidelines provide companies with ways and means to measure and report their emissions, which include measuring land use change emissions, tracking carbon removals, and standardising indirect emissions (Scope 3) reporting, as well as making sure that data aligns with global reporting standards like the GHG Protocol (GHGP) and Science Based Targets Initiative (SBTi).
Michael Matarasso, Impact Director and Head of North America, WCF, said: “Until now there has not been a consistent and detailed way for the cocoa industry to accurately report greenhouse gas emissions. Companies have struggled with multiple methods that can deliver very different results.
"By aligning the cocoa sector around a best practice standard method, we are now streamlining emissions accounting. This will ensure that companies can report the most accurate data, support them to participate fully in climate-related programming and deliver associated financial benefits to farmers who partake in carbon projects.”
READ MORE: PCAF Expands GHG Accounting and Reporting Framework
WCF is also working vigorously to improve sustainability in the cocoa sector with other initiatives like the Deforestation Risk Assessment Methodology and Cocoa Household Income Study (CHIS).
Alexandra Stern, Land & Agriculture Lead, Quantis US, said: “This new standard is the product of a collaborative effort which integrated insights from key industry stakeholders to effectively address the sector’s unique challenges. By establishing a unified framework, it equips companies with a practical, standardized approach to emissions reporting, fostering greater transparency and driving meaningful climate action.”
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Source: WCF
