Our calculations only measure projects with a direct relationship to our finance or investment activities. If it is not possible to record 100% of the energy produced by the facilities we finance or invest in, we use estimates based on wind and solar indexes, if applicable, and exclude projects that are still under construction.
It’s important to note that we include an attribution approach in our carbon disclosures. This means that we calculate avoided emissions as they relate to the proportion of our finance in a project. For example, if we are responsible for half of a project’s finance, we report half of the avoided emissions generated by that project. This attribution approach is a more accurate reflection of Triodos Bank’s responsibility for the greenhouse gas emissions of the projects it finances and is consistent with the PCAF methodology.
The calculation of CO2 emission avoidance is made using conversion rates (gram CO2 equivalent per kWh energy produced) received from Navigant, an international energy and climate consultancy bureau. The conversion rates describe, per country, the grams of CO2 eq. avoided when comparing sustainable energy with the mix of all non-sustainable power plants.
To calculate the average energy use in kWh per household in the countries where we are active, we use the energy efficiency indicators published by the World Energy Council (WEC), which were updated in May 2016.
The ‘Impact per customer’ calculations used throughout the annual report are based on a total of 721,000 customers at the end of 2019.
More information on how we contribute to decarbonising the economy can be found in our online annual report here.