Baltic States banking associations and financial companies 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.).

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.

• 55% reduction in GHG emissions by 2030
• 35 million buildings renovated to be more energy efficient by 2030
• 310 million tonnes of carbon dioxide reduced by 2030
• 40% share of renewable energy by 2030
• 0 GHG emissions by 2050

Examples of climate change risks in the Baltic States

• Increased risk of flooding
• Sea level rise
• Increased incidence of insect-borne diseases
• Intense heat waves and increase in average temperatures

GHG emissions in the European Union by sector

• Agriculture 38%
• Transport 19%
•  Energy industry 16%
• Residential 10%
•  Manufacturing and industry 10%
•  Other 7 %

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.

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. Although it is
recommended that Scope 3 GHG emissions should also be estimated for the most accurate
result, a universal spreadsheet cannot yet cover these.

You can estimate Scope 3 GHG emissions using this tool: https://ghgprotocol.org/scope-3-evaluator

• Please read the instructions carefully before using the calculator.
• Be sure to use accurate units of measurement.
• Real data first. Evaluate all possibilities to get realistic data on your energy purchases, consumption and avoid assumptions or average estimates. If there is no other option, estimates can be used, but note that this will affect the reliability of the results.

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.

• See where you have the biggest negative impact on the environment.
• Set targets for reducing your GHG footprint.
• Create an action plan, define responsibilities, monitor progress.
• Publicise your results, targets, actions and progress – it’s a matter of concern to both the
  consumers of your services and goods and to the public.

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:

• Meet the European Central Bank’s expectations on disclosure of financed GHG emissions;
• Report to the relevant authorities on how the bank or credit union manages the social and
  environmental challenges related to their portfolio companies;
• Evaluate whether their clients take environmental objectives into account in their business;
• Avoid and guard against greenwashing in their operations.

• For more information on the GHG Protocol and the GHG emissions calculator, visit https://ghgprotocol.org/
• For calculating Scope 3 GHG emissions not included in the scope of this calculator, you can use
  this tool https://ghgprotocol.org/scope-3-evaluator