E1-6 Gross Scope 1, 2, 3 and Total GHG emissions
Table 19 provides the previous year and the reporting period's emissions. Compared to the previous year emissions, total GHG emissions increased in the reporting period mainly due to increased exposure and data refinements in the FI sector, which has significant scope 3 emissions. For more details, please refer to the ‘FMO methodology for reporting financed GHG emissions and jobs’, available on FMO’s website.
Even though emissions in scope 1 and 2 from FMO’s own operations were found not to be material (based on the DMA), these have been added for completeness and consistency with previously reported emissions. Milestones and targets have not been defined and are therefore left blank. FMO did set a target to reduce emissions in its power generation portfolio, which is described in section 'E1-4 Targets related to climate change mitigation and adaptation'.
The excluded scope 3 categories are indicated in the following table with ‘N/A’. These categories are excluded because they are not expected to be material for FMO. Most upstream scope 3 categories 1-5 are not relevant as they only pertain to goods and serviced purchased for FMO’s one office building, scope 3 category 8 is not applicable as upstream leased assets (e.g. vehicles and building) are included under Scope 1 and 2, and the downstream scope 3 categories 9-14 are not applicable because FMO’s operations do not include sold physical products, downstream leased assets or franchises.
Table 19. Overview of total GHG emissions*
|
Base year |
Retrospective |
Milestones and target years |
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|
Comparative (N-1) |
N |
% N/N-1 |
2025 |
2030 |
-2050 |
Annual % target/Base year |
||
|
Gross Scope 1 GHG emissions (ktCO₂e) |
0.06 |
0.03 |
-50% |
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|
Percentage of Scope 1 GHG emissions from regulated emission trading schemes (%) |
0% |
0 |
0% |
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|
Gross location-based Scope 2 GHG emissions (ktCO₂e) |
0.33** |
0.24 |
-27% |
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|
Gross market-based Scope 2 GHG emissions (ktCO₂e) |
0.03 |
0.04 |
33% |
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|
Total Gross indirect (Scope 3) GHG emissions (ktCO₂e) |
5,861 |
6,442 |
10% |
|||||
|
1. Purchased goods and services |
N/A |
N/A |
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|
2. Capital goods |
N/A |
N/A |
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|
3. Fuel and energy-related Activities (not included in Scope 1 or Scope 2) |
N/A |
0.04 |
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|
4. Upstream transportation and distribution |
N/A |
N/A |
||||||
|
5. Waste generated in operations |
N/A |
N/A |
||||||
|
6. Business traveling |
5.26 |
5.57 |
6% |
|||||
|
7. Employee commuting |
0.52 |
0.53 |
2% |
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|
8. Upstream leased assets |
N/A |
N/A |
||||||
|
9. Downstream transportation |
N/A |
N/A |
||||||
|
10 Processing of sold products |
N/A |
N/A |
||||||
|
11. Use of sold products |
N/A |
N/A |
||||||
|
12. End-of-life treatment of sold products |
N/A |
N/A |
||||||
|
13. Downstream leased assets |
N/A |
N/A |
||||||
|
14. Franchises |
N/A |
N/A |
||||||
|
15. Investments |
5,855 |
6,436 |
10% |
|||||
|
Total GHG emissions (location-based) (ktCO₂e) |
5,861 |
6,442 |
10% |
|||||
|
Total GHG emissions (market-based) (ktCO₂e) |
5,861 |
6,442 |
10% |
|||||
|
*There is a discrepancy between the absolute greenhouse gas emissions in this table and in the table 'FMO's SDG contributions by strategic sector' in the chapter Performance Against Our Strategy. This discrepancy is due to rounding. |
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|
**Restatement is the result of an incorrect emission factor identified for the 2024 electricity consumption. |
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The scope 1 and scope 2 emissions are calculated for the consolidated accounting group using the operational control approach. FMO does not have operational control over any investees that are not fully consolidated in the financial statements, such as associates, joint ventures and unconsolidated subsidiaries, and therefore exposures towards these investees are reported under scope 3 category 15.
The following graph shows the financed absolute emissions under scope 3 category 15 per strategic sector and emissions scope.
Figure 3. Financed absolute GHG emissions under scope 3 category 15 per strategic sector (in ktCO2e)
Table 20a shows the total overview of financed emissions under scope 3 category 15. Table 20b disaggregates the financed emissions under scope 3 category 15 per strategic sector, funding source, product and emissions scope.
Table 20a. Overview of financed absolute emissions under scope 3 category 15 (totals)
|
Financed emissions |
2024 |
2025 |
||||||||
|
ktCO₂e |
ktCO₂e/BN EUR |
% coverage |
% primary |
DQ score |
ktCO₂e |
ktCO₂e/BN EUR |
% coverage |
% primary |
DQ score |
|
|
Scope 1 |
1,042.5 |
96.6 |
99.5% |
52.6% |
3.5 |
842.0 |
81.4 |
99.3% |
54.0% |
3.2 |
|
Scope 2 |
337.1 |
31.4 |
98.8% |
15.1% |
3.5 |
320.3 |
31.1 |
98.8% |
22.8% |
3.3 |
|
Total Scope 1 + Scope 2 |
1,379.5 |
1,162.3 |
||||||||
|
Scope 3 - Purchased goods and services |
1,508.0 |
140.7 |
98.9% |
12.1% |
3.7 |
1,599.6 |
155.9 |
98.7% |
15.7% |
3.6 |
|
Scope 3 - Investments |
2,967.4 |
527.8 |
98.3% |
6.5% |
4.6 |
3,673.9 |
600.3 |
97.0% |
12.8% |
4.4 |
|
Total Scope 1 + Scope 2 + Scope 3 |
5,854.9 |
6,435.8 |
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|
*There is a discrepancy between the absolute greenhouse gas emissions in this table and in the table 'FMO's SDG contributions by strategic sector' in the chapter Performance Against Our Strategy. This discrepancy is due to rounding. |
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