Calculate your carbon footprint!
Three Baltic States banking associations has created a GHG emissions calculator that is freely accessible to all organizations. We hope that this tool will encourage you to take the first step in calculating your company's or organisation's footprint and will be a starting point for planning how to reduce it.
This GHG Emissions Calculator has been developed by Deloitte. The tool allows you to estimate two scopes of GHG emissions impact - GHG emissions resulting from the direct activities of your company and indirect GHG emissions (e.g. through purchased electricity or heat, etc.).
GHG calculator and guidelines to use it are available here:
More information:
What are greenhouse gases (GHGs) and why should I care about it?
GHGs are gases in the atmosphere that act like greenhouse glass, absorbing the sun's energy and heat from the Earth's surface, trapping it in the atmosphere and keeping it from escaping into space. A large amount of GHGs occur naturally in the atmosphere, but human activity is creating huge amounts of these gases and increasing the greenhouse effect, which contributes to global warming. Greenhouse gases include carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O) and other gases. In this spreadsheet, all GHGs are expressed in terms of carbon dioxide (CO2) equivalent.
European Union targets for tackling climate change and reducing GHG emissions in the atmosphere
- 55% reduction in GHG emissions by 2030
- 35 million buildings renovated to be more energy efficient by 2030
- 310 million tonnes of carbon dioxide reduced by 2030
- 40% share of renewable energy by 2030
- 0 GHG emissions by 2050
Examples of climate change risks in the Baltic States
- Increased risk of flooding
- Sea level rise
- Increased incidence of insect-borne diseases
- Intense heat waves and increase in average temperatures
GHG emissions in the European Union by sector
- Agriculture 38%
- Transport 19%
- Energy industry 16%
- Residential 10%
- Manufacturing and industry 10%
- Other 7 %.
What data is evaluated in this calculator?
This calculator is based on the GHG Protocol, the international standard for calculating GHG emissions. GHG emission impact scopes are divided into three categories:
- Scope 1 - direct GHG emissions that are owned and controlled by the company itself. For example, this scope includes GHG emissions from company-owned vehicles or production.
- Scope 2 - indirect GHG emissions resulting from the purchase of electricity and heating services.
- Scope 3 - indirect GHG emissions arising from the activity chain and not included in Scope 1 or 2. This scope includes GHG emissions from the purchase of goods or services, logistics services, business travel, waste emissions, etc. Scope 3 is not included in this calculator as it has to be assessed on the basis of the specificities of the individual enterprise. You can use this tools to calculate Scope 3 emissions: https://ghgprotocol.org/scope-3-evaluator.
Who can use this calculator?
The tool is available to anyone interested and can be used by any size or sector of organisation in the Baltic States. However, this universal calculator does not cover methodologies, scenarios or circumstances tailored specifically to your company.
The calculator provides GHG emission estimates for Scope 1 and Scope 2.
What principles should be followed when filling out the calculator?
- Please read the instructions carefully before using the calculator.
- Be sure to use accurate units of measurement.
- Real data first. Evaluate all possibilities to get realistic data on your energy purchases, consumption and avoid assumptions or average estimates. If there is no other option, estimates can be used, but note that this will affect the reliability of the results.
I have calculated my company's GHG emissions. What should I do with this data?
You can view the results of your calculation in the 'Report' section of the calculator. However, the most important thing is not today's result, but what you can do with your emissions footprint.
- See where you have the biggest negative impact on the environment.
- Set targets for reducing your GHG footprint.
- Create an action plan, define responsibilities, monitor progress.
- Publicise your results, targets, actions and progress - it's a matter of concern to both the consumers of your services and goods and to the public.
Why do banks and credit unions need GHG emissions data?
Credit institutions, as well as your other business partners, are required to comply with an increasing number of requirements related to the European Union's (EU's) climate change mitigation policies. The calculator presented on this page is not mandatory, but recommended as a convenient and reliable alternative if you do not use other tools to calculate GHG emissions.
Banks and credit unions play a key role in EU‘s transition to a sustainable economy and in meeting EU requirements, they need to:
- Meet the European Central Bank's expectations on disclosure of financed GHG emissions
- Report to the relevant authorities on how the bank or credit union manages the social and environmental challenges related to their portfolio companies;
- Evaluate whether their clients take environmental objectives into account in their business;
- Avoid and guard against greenwashing in their operations.
Useful sources
Useful sources:
