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ECONOS works in line with the two most widely recognized GHG accounting standards.
The Méthodologie Bilan Carbone is developed by the Association Bilan Carbone in collaboration with ADEME, France’s ecological transition agency. It is recognized throughout the European Union. The Bilan Carbone® methodology provides a straightforward and efficient means to categorize emissions based on their sources, enabling the initiation of a dynamic process for effectively reducing these emissions.
The GHG Protocol is a methodology developed by the World Resources Institute (WRI), which is accepted as the International Authority on Corporate Sustainability Reporting Standards (CSRS). The GHG Protocol institutes globally recognized, all-encompassing frameworks for quantifying and overseeing greenhouse gas (GHG) emissions originating from both private and public sector activities, value chains, and efforts to reduce emissions.
Our Corporate Sustainability package was made in line with ISO 14064, Carbon Disclosure project (CDP), Science Based Target Initiative (SBTi), Global Reporting Initiative (GRI), EcoVadis standards on Greenhouse gas reporting.
ISO 14064 is a globally recognized standard for measuring, reporting, and verifying greenhouse gas emissions, serving as a valuable resource for organizations and policymakers addressing climate change.
CDP, a non-profit organization, operates a worldwide disclosure system that enables investors, corporations, cities, states, and regions to assess and address their environmental footprint effectively.
The SBTi promotes ambitious climate action in the private sector by guiding organizations to establish science-based emissions reduction targets, defining best practices, and independently evaluating and approving targets according to strict criteria.
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GRI, the Global Reporting Initiative, is an independent international organization that enables businesses and organizations to communicate their environmental, economic, and social impacts effectively through a global common language, promoting accountability and best practices.
EcoVadis is a global platform that helps businesses evaluate and enhance the environmental and social performance of their suppliers, enabling informed decisions on supplier relationships and driving sustainability improvements across the supply chain.
We have proudly helped the following activity sectors calculate their carbon footprint:
At ECONOS, we have experience in working with companies in the Industry & Manufacturing sectors. We helped manufacturing companies optimize processes, adopt cleaner energy sources, and implement innovative technologies to reduce their emissions. We have also assisted businesses in the Industry sector with sustainable practices, emissions reporting, and target setting, aiming to drive measurable results and enhance their environmental responsibility. Our expertise empowers organizations to navigate the complexities of carbon reduction in these sectors effectively.
Emission hotspots in the Industry & Manufacturing sectors typically include energy use, fossil fuel combustion, transportation and logistics, chemical processes, waste and by-products, machinery and equipment, supply chain, material selection, emission controls, and, in some cases, deforestation and land use changes. These hotspots can vary between industries and facilities, highlighting the need for customized assessments and emission reduction strategies.
At ECONOS, we offer extensive experience as carbon footprint consultants for the Energy Supply Sector. We adhere to international standards like the GHG Protocol and Policy and Action Standard, along with employing the Scope 2 Guidance and Energy Supply Sector Guidance and the “Compendium of Greenhouse Gas Emissions Methodologies for the Natural Gas and Oil Industry”. Our expertise lies in helping energy supply companies assess, manage, and reduce greenhouse gas emissions, all while aligning with industry guidelines and best practices. We are dedicated to promoting cleaner and more efficient energy solutions to support our clients' sustainability goals.
Emission hotspots in the Energy Sector encompass various sources, including fossil fuel combustion, power plants, methane leaks, transmission losses, emissions from vehicles, energy inefficiency, and the impact of renewable energy infrastructure. The sector is transitioning towards cleaner energy sources to mitigate these emissions. Effective monitoring and mitigation strategies are critical to address these hotspots across different subsectors of the industry.
Our experience in this sector equips us with the knowledge and capability to utilize The Product Carbon Footprint Guideline tailored specifically for the Chemical Industry. The guideline provides instructions for companies to calculate their corporate inventories using supplier-specific data. Additionally, it provides guidance on calculating the Product Carbon Footprints (PCFs) of their chemical products, with the goal of promoting transparency and reducing emissions throughout the entire value chain.
The chemical industry, contributing 8% of global industrial greenhouse gas emissions, plays a crucial role in GHG reduction. Only a small portion, often less than one-third, of a chemical company's emissions come from product manufacturing (Scope 1 and 2 emissions). Accurate carbon accounting and effective climate planning require assessing emissions across the entire value chain, with a key focus on "Purchased goods and services" as a primary emissions source critical for achieving Net Zero goals.
ECONOS leverages its expertise in agricultural greenhouse gas (GHG) management, utilizing the GHG Protocol Agricultural Guidance. This specialized methodology addresses complex challenges in GHG accounting for agriculture, the distinction between mechanical and non-mechanical GHG sources, environmental influences on GHG fluxes and unique aspects of agricultural practices.
From our experience, we have noticed that emission hotspots tend to vary depending on the farm’s main activity. Among hotspots from non-mechanical sources, enteric fermentation, manure fermentation (CH4), soil amendments and soil management (N2O) standout. Mechanical sources of GHGs are expected to be less location-variable, with stationary and mobile combustion sources at the forefront, followed by emissions from purchased electricity as well as refrigerant and air-conditioning equipment.
We rely on the "Retail GHG Emissions Factors, Data & Methodology Matrix" and methodologies associated with the GHG Protocol as our primary guidelines for developing and implementing a carbon footprint analysis for our clients’ specific activity sectors. We ensure that our results are based on industry-standard emissions factors and data, enhancing their accuracy and reliability.
In the context of GHG emissions, transportation and distribution, both upstream and downstream, are significant factors in this sector. To address this, we rely on GHG Protocol guidance and implement the GLEC-Framework, which covers emissions from various transportation modes and logistics operations in the supply chain. This approach provides a comprehensive view of the greenhouse gas footprint across the logistics chain. Additionally, for retailers selling electrical products, emissions from the Use of Sold Products are important. If these products have ENERGY STAR certification, we tailor our analysis tools to align with the client's sales records.
ECONOS follows established guidelines, widely adopted by banks and investors, to measure and disclose emissions. These guidelines are provided by the Partnership for Carbon Accounting Financials (PCAF) and are known as the Global GHG Accounting and Reporting Standard for the Financial Industry (Financed Emissions Standard). This standard, approved by the GHG Protocol in 2020, covers various asset classes and main emissions sources, including listed equity, corporate bonds, mortgages, business loans, unlisted equity, project finance, commercial real estate, and motor vehicle loans, ensuring comprehensive greenhouse gas accounting and reporting in the financial sector.
Furthermore, we employ the CRO Forum Carbon footprinting methodology, the guidelines used by insurance companies for underwriting portfolios. This approach involves assessing carbon emissions in investment asset portfolios to gain insights into the environmental impact of their investments. Rather than solely relying on absolute measures of CO2e emissions, this methodology also utilizes intensity measures of CO2e emissions.
At ECONOS, we are applying the Accounting and Reporting of GHG Emissions from Real Estate Operations which allows us to address the specific needs of financial institutions, including banks and investors, as well as entities like real estate asset managers and companies. The guidance offers clarity on distinguishing between GHG emissions accounting for reporting purposes and other applications, such as transition risk management. It also provides precise definitions for GHG emissions related to real estate, distinguishing between operational carbon and embodied carbon. Importantly, we are using a comprehensive whole-building approach to encompass all relevant emissions, which allows us to address the delineation and attribution of emissions scope for various financial stakeholders, with clear boundaries between tenant and landlord emissions.
Emission hotspots in Accounting and Reporting of GHG Emissions from Real Estate Operations are diverse, with a primary focus on operational emissions arising from gas and electricity consumption for heating, hot water, and cooking. These hotspots include operational and embodied carbon emissions, energy use, waste, water, transportation, maintenance, supply chain, tenant-related emissions, and opportunities for renewable energy adoption and improved heating and cooling efficiency.
At ECONOS, we use the guidelines provided under the "Greenhouse Gas Emission Inventory Methodologies for State Transportation Departments", pivotal for state transportation departments and businesses within this activity sector. Apart from accounting for both Scope 1 and Scope 2, the guideline recommends including emissions arising from vendors and contractors, emissions associated with upstream activities to produce materials and fuels, losses in the transmission and distribution of purchased electricity, emissions arising from solid and water waste treatments, as well as those produced by employee commuting and business travel. For LNG transportation, ECONOS will use the SGE Methodology for calculating GHG emissions for delivered LNG Cargoes, which includes emissions arising during the production, gathering and boosting, processing of LNG, gas transportation, liquefaction, storage and loading, shipping and unloading.
These include emissions from vendors and contractors, with construction and maintenance contracts often being significant contributors. Addressing these hotspots is vital for enhancing the sector's environmental sustainability and reducing greenhouse gas emissions.
At ECONOS, we use the specialized ICT Sector Guidance, part of the GHG Protocol framework, to address the unique challenges of GHG emissions in the Information and Communication Technology (ICT) sector. This method helps us provide ICT companies with a structured approach for calculating and reporting emissions, considering sector-specific elements like data centers and electronic device production. We have experience in conducting Life Cycle Assessments (LCAs) for electronic devices and offer interpretation of carbon footprint results, assisting clients in identifying key emission sources and gaining insights from environmental impact analyses.
In the ICT sector, hotspots are primarily associated with embodied carbon, which includes greenhouse gas emissions from the manufacturing, acquisition, and assembly of product materials and components. This also considers factors like upstream emissions, emissions during use (excluding operational carbon), end-of-life emissions, and those extending beyond the product's lifecycle. High energy consumption, driven by the popularity of high-resolution electronic displays, is another significant concern. Data centers are the largest contributors to the sector's carbon footprint (45%), followed by communication networks (24%), smartphones (11%), and various computing devices.
ECONOS relies on AdGreen – part of the Advertising Association, resources and guidelines to understand the associated emissions with online marketing and communication campaigns. The methodology shares the same core carbon calculator with the BAFTA albert’s online tool for the Film and TV production community.
In a year, an online ad campaign is estimated to produce the same amount of CO2e as 7 people. ECONOS delved into the scientific research behind CarbonTag, an online application designed to calculate in real-time the energy use during the rendering of any online advertisement. When assessing the offline side of marketing and communications, GHGs can be generated through the distribution and disposal of leaflets and other advertising materials, as well as through logistics warehouse waste if not managed properly.
In the Waste Sector, a unique challenge arises as this sector is not responsible for the creation of the waste it manages. Despite this, it experiences environmental impacts generated by waste, under strict monitoring regulations in terms of environmental impacts. ECONOS adheres to the Waste Sector Protocol guidelines which oversees emissions monitoring and uncertainties, biological emissions generated at the site and provides guidance on assessing avoided emissions.
Important emission hotspot arise from fuel consumption and used purchased electricity during the Collection, Transportation and Transfer of waste, Mechanical Pre-treatment (dismantling), Sorting, Recycling and Recovering processes, Physico-chemical waste treatment while CH4 and NO2 are produced during the biological treatment or landfill stages.
ECONOS has collaborated closely with clients in the medical and pharmaceutical sectors, gaining a deep understanding of the complexities within these industries. Having this expertise, we are well-equipped to assist organizations in implementing the Greenhouse Gas Accounting Sector Guidance for Pharmaceutical Products and Medical Devices, developed under the GHG Protocol framework, and provide further guidance in reducing your company's environmental impact. This Sector Guidance specifies which life cycle stages and processes should be included in the assessment while also indicating when certain stages may be excluded based on their insignificance.
Purchased Goods and Services, as well as Use of Sold Products are the main Scope 3 hotspots across the Biotechnology & Pharmaceuticals, Medical Technology and the Health Care Retail sectors.