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Reporting on your scope 3 can seem overwhelming at first. Spend-based emission factors are one way to speed up the process. They build on the financial data your business already has and link this data to the emissions from a good or service per dollar spent. In our webinar, our Technical Director Jeff Vickers and Cogo’s Brian Johnston explain who can benefit from thinkstep-anz’s new Emission Factors for New Zealand.
What we’ve learned
Spend-based emission factors are easy to use
Our new Emission Factors for New Zealand represent the average greenhouse emissions generated by a product or service in a specific industry per dollar spent (measured in kilograms of carbon dioxide equivalent per dollar (kg CO2e/$)). Organisations can simply multiply the dollar amount they spend in a category by the corresponding emission factor to calculate emissions in that category.
These emission factors are quick and easy to use, but not as precise as emission factors based on physical units of measure.
Spend-based emission factors have many uses
Our spend-based emission factors can be used for:
- Scope 3 corporate carbon footprints, particularly for purchased goods and services.
- Calculating the carbon footprint of an investment/lending portfolio (financed emissions).
- Researcher to understand the carbon footprint of a demand-side sector.
- Calculating your personal carbon footprint.
Cogo uses emission factors in its products to link financial and emissions data
Cogo sells products for managing carbon footprints. These products support businesses and consumers to track their carbon emissions through their banking or accounting software.
Cogo uses spend-based emission factors in its products to link financial and emissions data. Spend-based emission factors enable fast, easy footprint estimates, and cover a full supply-chain scope.
Making it easy to track carbon emissions increases impact
Having an easy method to track carbon emissions allows more individuals and businesses to learn about their impact and make conscious decisions.
Learn more about our Emission Factors for New Zealand.