CaixaBank has launched a new service that helps companies measure their carbon footprint to verify their emissions based on their specific sector and business activities.

Developed in collaboration with Aenor, the service aims to support CaixaBank's clients in the decarbonisation process and it follows the internationally recognised Greenhouse Gas (GHG) Protocol standards.

Specifically, it seeks to ensure the accuracy of Scope 1 and 2 emissions measurements in sectors such as agriculture, waste management, and oil and gas services.

Scope 1 and 2 emissions include fuel combustion in company-owned vehicles or boilers and emissions coming from the consumption of purchased electricity, steam, heat, or cooling systems.

In addition, Scope 3 emissions, including those from supply chain activities, travel and waste treatment, can be voluntarily verified.

The GHG protocol provides the world's most widely used standards for measuring and managing greenhouse gas emissions. These standards help businesses, governments, and other entities measure and report their GHG emissions in a consistent and transparent manner.

The new service aims to provide officially recognised accreditation during compliance processes related to upcoming environmental regulations and reporting requirements.

To access the service, customers must have previously completed a carbon footprint measurement using the bank's CO2 calculator.

Introduced in 2024 and available on the bank's official website and app, the calculator provides a standardised method for measuring and reporting emissions.

“Carbon footprinting is a complex process, particularly for companies and SMEs measuring their emissions for the first time or those seeking to systematise their calculations,” the bank said.

The calculator identifies the main sources of greenhouse gas emissions, both direct (such as fuel consumption of facilities and vehicles) and indirect (such as electricity consumption and business travel), and offers insights and recommendations to help reducing emissions.

CaixaBank said it also recently set up a team of professionals across its corporate banking divisions to support companies and SMEs in their decarbonisation efforts.

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