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:
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
Examples of climate change risks in the Baltic States
GHG emissions in the European Union by sector
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.
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.
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.
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:
Useful sources: