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Climate accounting is increasingly on the agenda.
More and more companies are facing demands to be able to document their climate footprint — from customers, partners, investors and increasingly also from legislation. But what exactly is a climate accounting and why is it relevant to your business?
Why climate accounting?
The EU's new sustainability reporting rules mean that many companies have to deal with their CO₂ footprint. But climate accounting is not just about meeting demands.
It can also create value because it provides an overview, allows realistic goals to be set and helps prioritize efforts. At the same time, it can strengthen the company's brand and create a competitive advantage through transparency and clear ambitions.
What is a climate accounting?
A climate accounting is a company's “climate accounting” -- a statement of total greenhouse gas emissions from the company's operations. It covers:
- Scopo 1: Direct emissions from own activities.
- Scopo 2: Indirect emissions from purchased energy.
- Scopia 3: Other indirect emissions throughout the value chain.
Together, it provides a full picture of the company's climate footprint. Climate accounting is typically prepared according to international standards such as the Greenhouse Gas (GHG) Protocol so that the results are transparent and comparable.
The aim is not only to quantify figures, but to create a management tool that shows where the greatest emissions are located and thus where it gives the most value to put in.
The path to climate accounting
The process starts with setting the framework: Should the accounts cover the whole group or only parts of it? And what activities and discharges should be included under scopes 1, 2 and 3?
Once the framework is established, data from procurement, financial systems and energy consumption are collected. These are translated into CO₂e with emission factors from national or international sources. For scope 3, where data is often complex, you can use vendor questionnaires or industry data as a starting point.
It is important to remember that the first climate accounting does not have to be perfect. The crucial thing is to get started, document its method choices and improve data quality year by year.
Rounding
A climate accounting is not just a reporting requirement. It is a tool that can create real business value. It provides insight into the biggest discharges, allows you to set goals and document progress, and it can strengthen the company's position in the market, as well as attract customers, investors and employees alike.
In short: Good climate accounting is not an end in itself, but the foundation for a credible and long-term sustainability effort.
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