ISO 31000
International guidelines for enterprise risk management
ISO 14064
International standard for GHG quantification, reporting, and verification.
Quick Verdict
ISO 31000 provides principles, framework, and process for enterprise risk management across all organizations, while ISO 14064 specifies GHG quantification, reporting, and verification for emissions inventories. Companies adopt ISO 31000 for resilient decisions; ISO 14064 for credible climate disclosures.
ISO 31000
ISO 31000:2018 Risk management — Guidelines
Key Features
- Defines risk as effect of uncertainty on objectives
- Eight principles including integrated and dynamic approaches
- Framework embedding risk in governance and leadership
- Iterative six-step process for assessment and treatment
- Non-certifiable guidelines for any organization
ISO 14064
ISO 14064 Greenhouse gases standards
Key Features
- Three-part modular framework for inventories, projects, verification
- Five principles: relevance, completeness, consistency, transparency, accuracy
- Scopes 1-3 boundary setting and quantification methods
- Risk-based validation/verification with materiality assessment
- Alignment with GHG Protocol and regulatory compliance
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
ISO 31000 Details
What It Is
ISO 31000:2018, Risk management — Guidelines is a non-certifiable international standard providing principles-based guidance for systematic risk management. Its primary purpose is to help organizations of any size or sector manage uncertainty affecting objectives, using an integrated, iterative approach focused on creating and protecting value.
Key Components
- **Three pillarsEight principles (e.g., integrated, customized, dynamic), framework (leadership, integration, design, evaluation), and process (communication, scope/context, assessment, treatment, monitoring, recording).
- No fixed controls; emphasizes PDCA cycle and continual improvement.
- Guidelines only, no certification model.
Why Organizations Use It
- Enhances decision-making, resilience, and opportunity capture.
- Builds stakeholder trust via transparent governance.
- Aligns with regulations indirectly; voluntary for strategic advantage.
- Reduces losses, improves efficiency without certification burden.
Implementation Overview
- Phased: leadership alignment, gap analysis, pilot process, integration, monitoring.
- Tailored to context; involves policy, training, tools like risk registers.
- Universal applicability; no audits required, internal assurance suffices. (178 words)
ISO 14064 Details
What It Is
ISO 14064 is an international standard family (ISO 14064-1:2018, -2:2019, -3:2019) providing specifications with guidance for GHG emissions quantification, reporting, and verification. It establishes a modular framework for organizational inventories (Part 1), project-level reductions (Part 2), and independent assurance (Part 3), emphasizing principle-based approaches like boundary setting and risk assessment.
Key Components
- Three interdependent parts covering inventories, projects, and validation/verification.
- Five core principles: relevance, completeness, consistency, transparency, accuracy.
- Requirements for Scopes 1-3, baselines, monitoring, and materiality.
- Compliance via third-party verification under Part 3, often with ISO 14065 bodies; no formal certification but audit-ready reports.
Why Organizations Use It
- Meets regulatory demands (e.g., CSRD, SB-253) and enables emissions trading.
- Builds investor trust, reduces greenwashing risks, and supports decarbonization strategies.
- Drives operational efficiencies and supply-chain engagement.
Implementation Overview
- Phased: governance, boundary design, data systems, reporting, assurance.
- Applies to all sizes/industries globally; mid-large firms need 6-12 months.
- Involves cross-functional teams, software, and optional reasonable/limited assurance audits. (178 words)
Key Differences
| Aspect | ISO 31000 | ISO 14064 |
|---|---|---|
| Scope | Enterprise-wide risk management guidelines | GHG emissions quantification and verification |
| Industry | All sectors, any organization size globally | All sectors with GHG focus, global applicability |
| Nature | Non-certifiable voluntary guidelines | Non-certifiable specification with guidance |
| Testing | Internal audits, management reviews | Independent validation/verification optional |
| Penalties | No legal penalties, internal consequences | No direct penalties, market credibility loss |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about ISO 31000 and ISO 14064
ISO 31000 FAQ
ISO 14064 FAQ
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