Market-based approach and IFRS S2 alignment

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com.

The GHG Protocol’s proposed updates to its guidance on scope 2 emissions introduce significant changes, including hourly matching, revised market-based accounting rules, and more granular emissions data requirements. In this episode, we break down the key proposals, PwC’s perspective on feasibility and interoperability, and what companies should be considering as the guidance evolves. 

In this episode, we discuss: 

• 1:45 – Overview of the Scope 2 consultation and the themes of proposed updates and views
• 14:04 – Data availability challenges: hourly utility data gaps and lack of granular emission factors
• 20:08 – Geographic market restrictions and renewable procurement impacts
• 31:00 – International Organization for Standardization relationship, timeline shifts, and what companies can do now 

For more on the GHG Protocol, see our publications: 

• PwC shares feedback on GHG Protocol Scope 2 Guidance amendments 
• GHG Protocol announces Scope 2 Public Consultation
• GHG Protocol publishes Land Sector and Removals Standard  

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About our guest

Colin Powell is PwC Canada’s Technical Net Zero Leader. His work focuses on GHG quantification, life cycle assessment across many impact categories, GHG target setting, and developing decarbonization strategies. He has supported companies in quantifying over 1 billion tonnes of GHG emissions and worked previously as a consultant supporting global clients to understand their GHG emissions and how they can decarbonize. Colin sits on the GHG Protocol’s Scope 3 Technical Working Group, helping to shape the revision of the global standards used to account for GHG emissions. Colin is also a Professional Engineer (Ontario) and holds a PhD in wastewater treatment modeling.  

About our host 

Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series. 

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

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