Ten global chemical companies and stakeholders have released guidance for the chemical sector on communicating a product’s environmental footprint using life cycle assessment (LCA) methods. Collaborating as a working group of the World Business Council for Sustainable Development (WBCSD), the members developed the guidance document – titled Life Cycle Metrics for Chemical Products – with the objective of facilitating “improved sustainability across value chains” by communicating reliable information using a “common language.” The guidance is based on ISO 14040:2006 and 14044:2006 and sets out requirements covering topics including:

This guide is the third release from the WBCSD Chemical Sector’s “Reaching Full Potential” project, which previously released guidance for the chemical industry on accounting and reporting corporate greenhouse gas emissions and avoided emissions. Together, the Project’s publications seek to provide for “consistent and credible communication on how the value chains of chemicals impact on and contribute to sustainability.”

The working group is comprised of major companies like BASF, Eastman Chemical, Evonik, and Solvay, as well as Cefic, the European Chemical Industry Council. The next step for the Reaching Full Potential project is to develop a guide for companies to assess social impacts and benefits of chemical products. Development of that guide is already under way, with release expected in late 2015.