Financial institutions work to harmonise greenhouse gas accounting
Inconsistent greenhouse gas (GHG) accounting standards have long been an issue in sharing information about development projects.
NDF has joined other international financing institutions (IFIs) to harmonise GHG accounting at the project level. IFIs involved in this venture are long-term NDF partners such as the African Development Bank, the Asian Development Bank, the Inter-American Development Bank and the World Bank Group.
NDF and the other IFIs recognise the benefits of harmonised GHG accounting: improved consistency and comparability across IFIs, increased reliability for other users of the data, a good-practice standard for other IFIs, and facilitated sharing of experience and lessons learned.
The IFIs commits to screening and reporting on the GHG emissions relating to projects financed by each institution. The IFIs have also agreed to continue cooperation and learning in the area of GHG accounting as well as the development of robust accounting standards and monitoring, verifying and reporting (MRV) procedures.
More information
International Financial Institution Framework for a Harmonised Approach to Greenhouse Gas Accounting