Carbon accounting refers to the process of measuring and managing an organization's greenhouse gas emissions across the whole supply chain. Coolset offers a hybrid model, using both spend-based and activity-based carbon accounting solutions, which are GHG-protocol methodologies approved under CSRD guidelines. These methodologies provide accurate insights into your company's carbon footprint and ensure compliance with regulatory standards.
Spend-based accounting
Spend-based accounting calculates emissions based on the financial expenditure of goods and services. It uses emission factors that represent the average emissions per unit of currency spent in various categories. Coolset leverages a database of 11.000+ vetted emission factors to ensure accuracy and fit for every transaction.
Activity-based accounting
Activity-based accounting calculates emissions based on specific activities and processes. It uses detailed data on actual physical units of activity (e.g., kilometers traveled, kilograms of material used).
Why use a hybrid model?
Coolset uses a hybrid model to make the best use of the data available. Most companies starting with their sustainability data do not have activity-based data available yet, companies that are already a bit further often cannot cover their full scope 1, 2, and 3. That is why Coolset uses spend-based accounting to ensure full coverage of scope 1, 2, and 3, and uses activity-based accounting where data is available to enrich the initial calculation.
By the use of the hybrid model, Coolset can tailor all needs, no matter in which stage of your sustainability journey your company is.
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