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In our fifth episode of our miniseries on the building blocks of greenhouse gas (GHG) emissions reporting, we discuss step 4: measure greenhouse gas emissions, continuing with scope 2 emissions. Host Heather Horn is joined again by Marcin Olewinski, an Assurance partner, and Chris Ostermann, a director in PwC’s Sustainability Services Group, to kick off the second of three episodes focused on measuring greenhouse gases. They will share more of what they’re seeing in practice working with companies who are calculating these emissions, a must listen given the complexity of the challenges can grow moving from scope 1 to scope 2 emissions.

In this episode, they discuss:

• 02:05 – Scope 2 emissions — how they are different from scope 1 emissions and the formula for calculating them
• 06:39 – Location-based and market-based methods for calculating scope 2 emissions
• 16:02 – Bundled and unbundled instruments and their related challenges
• 19:59 – Importance of selecting appropriate emission factors
• 27:39 – Reporting scope 2 emissions, including selecting the right calculation method to report

For more information on GHG emissions reporting, including scope 2 emissions discussed in today’s episode, check out Chapter 7: Greenhouse gas emissions reporting in PwC’s global Sustainability reporting guide. And to catch up on the GHG miniseries, listen to the first four episodes below.

• Talking GHG: Reporting requirements for greenhouse gas emissions
• Talking GHG: How organizational boundaries shape reporting
• Talking GHG: Determining operational boundaries
• Talking GHG: Practical insights on measuring scope 1 emissions

Marcin Olewinksi is a PwC Assurance practice partner, with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG.

Chris Ostermann is a director in PwC’s Sustainability Services Group working on sustainability and ESG matters with companies across multiple sectors. He focuses on helping clients understand their most significant sustainability/ESG impacts, develop strategies to address those impacts, execute those strategies and communicate progress to investors and other stakeholders.

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.

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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This next episode of our 2024 SEC comment letter podcast miniseries discusses business combinations.
Business combination accounting can be complex, the required disclosures are comprehensive, and these are not routine transactions for most companies – all making this a challenging area that frequently gets the attention of the SEC staff. We discuss the issues most frequently raised by the SEC staff and offer advice to preparers for getting ahead of them.

In this episode, we discuss:

• 2:02 – An overview of SEC comment letter trends related to business combinations
• 5:14 – Determining whether a transaction is an asset acquisition or business combination
• 7:34 – The definition of a “business” in US GAAP as compared to SEC rules
• 9:23 – Comments related to omitted disclosures
• 12:39 – Pro forma disclosures and financial statements of acquired or to-be-acquired businesses
• 25:45 – Other reminders and areas of focus related to business combinations

For more information, see our full analysis of SEC comment letter trends, our Business combinations guide, and Chapter 17 of our Financial statement presentation guide. Also, check out our other episodes in this miniseries:

• SEC comment letters – What’s trending in 2024
• 2024 SEC comment letter trends: Revenue

Additionally, follow this podcast on your favorite podcast app for more episodes.

Beth Paul is a Deputy Chief Accountant in PwC’s National Office responsible for a team of consultants that specialize in business combinations and related areas, such as consolidations, disposals, impairments, and segment reporting.

Kevin Vaughn is a PwC National Office partner specializing in SEC reporting matters. Kevin leverages his extensive experience to support PwC public company and pre-IPO clients on accounting and SEC reporting matters. Prior to joining PwC in 2023, Kevin spent over 18 years at the SEC, most recently serving on the leadership team in the SEC’s Office of the Chief Accountant where he focused on technical accounting consultations, SEC rulemakings, and standard setting matters.

Kyle Moffatt is PwC’s Professional Practice leader, leading a team responsible for working with standard setters and regulators as well as delivering brand-defining thought leadership and educational materials. He also consults with engagement teams and audit clients on SEC reporting matters. Before PwC, Kyle spent almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance.

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

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

In the fourth episode of our miniseries on the building blocks of greenhouse gas (GHG) emissions reporting, we discuss step 4: measure greenhouse gas emissions, starting with scope 1 emissions. Host Heather Horn and frequent ESG podcast guest Marcin Olewinski, an Assurance partner, are joined by Chris Ostermann, a director in PwC’s Sustainability Services Group, to kick off the first of three episodes focused on measuring greenhouse gases. They will share what they’re seeing in practice working with companies who are calculating these emissions, including successes and (preventable) misapplications.

In this episode, they discuss:

• 02:24 – Scope 1 GHG emissions, including identifying sources and a complete inventory
• 07:05 – Methods for measuring scope 1 emissions and how to select a measurement approach
• 16:56 – Challenges associated with collecting data inputs
• 22:53 – Explaining emissions factors and the challenges in selecting emissions factors for the emissions calculation
• 33:17 – Global warming potentials and their impact on the calculation of scope 1 emissions
• 41:33 – Practical advice from working with clients

For more information on GHG emissions reporting, including scope 1 emissions discussed in today’s episode, check out Chapter 7: Greenhouse gas emissions reporting in PwC’s global Sustainability reporting guide. And to catch up on the GHG miniseries, listen to the first three episodes below.

• Talking GHG: Reporting requirements for greenhouse gas emissions
• Talking GHG: How organizational boundaries shape reporting
• Talking GHG: Determining operational boundaries

Marcin Olewinksi is a PwC Assurance practice partner, with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG.

Chris Ostermann is a director in PwC’s Sustainability Services Group working on sustainability and ESG matters with companies across multiple sectors. He focuses on helping clients understand their most significant sustainability/ESG impacts, develop strategies to address those impacts, execute those strategies and communicate progress to investors and other stakeholders.

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.

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