General
GHG Protocol Standards that You Should Know
The earth is warming up faster than any other moment in the past, and it is time to rethink our strategies for cooling it down. During the 2015 Paris Climate Conference (COP21), countries committed to limiting further global warming by cutting down greenhouse (GHG) emissions.
Corporates have a bigger role in addressing global warming, and their leadership needs to understand the GHG protocol to help them measure and manage their emissions.
So, how well do you know the GHG protocol? Here is a deeper look, outlining the scopes of GHG emissions and the main standards that you should know about.
What is the GHG Protocol?
Greenhouse Gas Protocol is an organization that was created in 1998 through a partnership between World Business Council for Sustainable Development and World Resources Institute. The protocol was developed to help companies cut down their emissions by setting standards for them. As we are going to see shortly, the GHG protocol provides standards, tools, and training for companies and governments on the best ways to manage emissions.
The protocol operates closely with industry associations, governments, businesses, and NGOs, to create standardized frameworks for emission reduction and reporting to stakeholders. Notably, these standards have evolved over time to cater to the complex problem of global warming.
For example, the standards do not just help companies to cut down their carbon footprint from within but also the entire value chain.
GHG protocol is used by a wide range of companies, and your company is also likely to fit well. Nine out of ten Fortune 500 Companies reporting to CDP use the GHG Protocol. To apply the protocol in your company, make sure to get the right ESG reporting framework and expertise from Diginex.com.
GHG Protocol: The Three Scope Emissions
One of the things that make the GHG protocol famous is its emission classifications. The protocol classifies them into three:
- Scope One: These are emissions that result from the internal operations of a company.
- Scope Two: These emissions are generated through the consumption of purchased steam, heat, cooling, and electricity.
- Scope Three: These are indirect emissions, mainly resulting from the extended supply chain. Note that these emissions must include both downstream and upstream operations.
We must indicate that measuring Scope 3 emissions and to some extent, Scope 2 Emissions is not a simple task. This is why you should consider working with experts at Diginex.com.
GHG Protocol Standards
Here are the main GHG protocols and who they are prepared for:
- Corporate Standard: This protocol is meant for organizations preparing corporate-level GHG emissions inventory. The lovely thing about this standard is that it not only helps companies cut down emissions but also comes in handy, helping them increase transparency.
- GHG Protocol for Cities: Cities are major carbon emission sources, contributing about 75% of all GHG emissions per year. This standard is used to provide for a consistent and transparent measure of GHG emissions in urban areas/ cities. Furthermore, it allows for benchmarking via comparable data.
- Mitigation Goal Standard: Unlike the first two standards above, the mitigation standard is used for developing national and subnational mitigation objectives. It was created to help follow policies and actions set for cutting down GHG emissions.
- Product Standard: With this standard, you are able to look at the entire lifecycle of a selected product. Then, you can notice where more emissions are taking place and then identify opportunities for cutting down emissions.
- Corporate Value Chain Standard: This standard sets out the guidance for companies to evaluate their GHG in their entire value chain. It is very useful for helping companies look at the emissions outside of their operations or walls.
As you can see, GHG protocol is an important pillar in ESG sustainability reporting. To apply it correctly, you need to ensure that the right process is followed, from company review to report generation. It can be pretty challenging, and the best way to get it right is by working with experts. Visit Diginex.com now to learn more about GHG protocol, its application, and optimizing the associated benefits.
General
Tinubu Seeks Senate Confirmation of Tegbe as Power Minister
By Adedapo Adesanya
President Bola Tinubu has written to the Senate seeking confirmation of the nomination of Mr Joseph Tegbe as the Minister of Power in the Federal Republic of Nigeria.
The request, read by the President of the Senate, Mr Godswill Akpabio, during plenary on Tuesday, was conveyed in a letter addressed to the Senate.
President Tinubu, citing Section 147(2) of the 1999 Constitution (as amended), which empowers the President to nominate ministers subject to Senate confirmation, urged lawmakers to give the request prompt consideration.
Last week, Mr Tinubu nominated Mr Tegbe as the Minister of Power, following the resignation of Mr Adebayo Adelabu to pursue a governorship ambition in Oyo State under the All Progressives Congress (APC) in the 2027 polls.
In the same vein, President Tinubu sought confirmation of two other nominees: Ambassador Sola Enikanolaiye as Minister of State, as well as Mr Rabiu Abdullahi Umar as the chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
“The nomination has been transmitted to the Senate for screening and confirmation in accordance with the Constitution,” a statement by presidential spokesperson Mr Bayo Onanuga read in part.
Like his predecessor, Mr Tegbe is from Oyo State. He is a fiscal and economic reform expert with over 35 years of experience spanning the public and private sectors.
A former Senior Partner and Head of Advisory Services at KPMG Africa, he led wide-ranging initiatives in fiscal policy reform, institutional transformation, and governance in that firm.
Mr Tegbe has also advised key government institutions and private sector organisations on strategic reforms, regulatory frameworks, and investment structuring.
Until his nomination, he served as the Director General and Global Liaison for the Nigeria-China Strategic Partnership (NCSP), and was responsible for strengthening bilateral development cooperation between Nigeria and the People’s Republic of China.
Key priority for Mr Tegbe, if confirmed, will be to institute and execute policies that can help fix one of Nigeria’s most crucial sectors.
General
Court Orders SERAP to Pay DSS Operatives N100m For Defamation
By Adedapo Adesanya
Justice Halilu Yusuf of the Federal Capital Territory High Court, Abuja, has awarded N100 million in damages against the Incorporated Trustees of the Socio-Economic Rights and Accountability Project (SERAP).
In his judgment, Justice Yusuf held that two operatives of the Department of State Services (DSS) were right to institute a defamation suit against SERAP.
In the suit, filed in the names of the two DSS officials, Ms Sarah John and Mr Gabriel Ogundele, the claimants accused SERAP of making a false allegation that they invaded its office in Abuja on September 9, 2024.
The court also ordered the organisation to tender a public apology to the two operatives, to be published in two national newspapers and broadcast on two television stations.
In addition, the court awarded N1 million against SERAP as the cost of litigation.
The judgment further stipulated a 10 per cent interest on the damages until the sum is fully paid.
The case follows a dispute that began in September 2024 when SERAP alleged that DSS officers “unlawfully invaded” its Abuja office.
In a post on its X account, the group said, “Officers from Nigeria’s State Security Service are presently unlawfully occupying SERAP’s office in Abuja, asking to see our directors.”
It added, “President Bola Tinubu must immediately direct the SSS to end the harassment, intimidation, and attack on the rights of Nigerians.”
The DSS, however, denied the claims.
It said the visit by its officers was routine and meant to engage the organisation’s new leadership.
The officers later sued, insisting that “no invasion occurred” and that the claims damaged their reputation and led to disciplinary action.
However, SERAP maintained its position.
In a later statement, it said, “We stand by our statements of defence and statements on oath,” insisting that DSS officers “unlawfully invaded our Abuja office.”
During court proceedings, witnesses reportedly said no physical assault took place.
SERAP’s Deputy Director, Mr Kolawole Oluwadare, told the court the claims were based on information from a staff member.
Counsel to the DSS officers, Mr Oluwagbemileke Kehinde, urged the court to grant all reliefs, arguing that the claimants had “substantially proved their case.”
General
UK Court Freezes Nigerian Oil Trader’s Global Assets Over $40m Debt
By Adedapo Adesanya
A court in the United Kingdom has taken sweeping action against a Nigerian oil trader, Mr Abdulrahman Musa Bashar, freezing his assets worldwide in a bid to secure repayment of a long-running debt dispute tied to failed fuel transactions.
The order, issued by the High Court in London, prevents Mr Bashar and his firm, Ultimate Oil and Gas FZCO, from selling, transferring, or otherwise dealing with assets across multiple jurisdictions, including Nigeria, the United Arab Emirates, the United Kingdom, and France. The restriction applies up to the value of the outstanding liability, with disclosed holdings estimated at nearly $170 million.
According to Business Day, the dispute traces back to oil trading agreements between 2022 and 2023, when Dubai-based Petrichor Energy supplied gasoil and Jet-A1 aviation fuel to Ultimate.
Court filings indicate that while deliveries were completed, payments were inconsistent and ultimately fell short, leaving the supplier to pursue legal and arbitration routes to recover its funds.
In an attempt to resolve the matter, Mr Bashar entered a personal repayment agreement in early 2024, backing the company’s obligations with his own guarantee.
He also issued a series of signed cheques as security. However, these measures failed to yield results, as the debt remained unsettled and the cheques were rejected upon presentation.
The court’s decision to impose a global freeze was influenced by what it described as troubling conduct during the dispute. Evidence suggested that assets were being sold without proceeds going toward the debt, alongside concerns that not all holdings had been fully disclosed.
The newspaper reported that testimony also pointed to an alleged warning from Mr Bashar that he might move assets out of reach if negotiations broke down, an assertion the court treated as a credible risk of asset dissipation.
The ruling adds to a growing list of legal challenges facing the businessman. He has previously been sanctioned by English courts for failing to comply with orders in a separate commercial dispute, and was also convicted in Dubai, the UAE, in a different cheque-related case.
With the freezing order now active, Petrichor has expanded its recovery efforts beyond the UK, initiating enforcement actions in both the UAE and Nigeria.
The move aims to block any pathways through which assets could be shielded, while also enabling seizure or control where legally permitted.
In a further escalation, the English court has directed two Nigerian-linked companies associated with Mr Bashar to grant access to a Delta State storage facility, allowing the creditor to recover fuel cargoes tied to the unpaid transactions. Failure to comply could trigger additional legal consequences, including contempt proceedings.
Despite ongoing attempts by Mr Bashar and his company to overturn the freezing order, the court has so far declined to lift the restrictions, leaving the enforcement process firmly in motion.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
