Mirova & Robeco lead initiative to develop a global database of avoided emissions factors

Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable finance, along with Robeco and a group of 11 financial players, launch a call for expressions of interest (CEI) to develop a global database of avoided emissions factors and associated company-level avoided emissions.  

The energy transition requires moving away from carbon activities and proposing decarbonized alternatives. Although these are mostly known, there is no global, quantified data available to compare them and support the redirection of financial flows to companies enabling decarbonization.

Estimates of the investment required to meet global net-zero emissions by 2050 range from USD 109-275 trillion. Much of this investment will be in so-called “climate solutions”, such as renewable power generation, electrified transportation, and green buildings. Whilst investment is needed across the board, the incremental contribution of the investment to the low-carbon transition is dependent on the location and the type of investment. 

More and more companies now communicate their scope 1, or direct, CO₂e emissions and we see an increase in the amount of data about estimated indirect emissions, scope 2, and scope 3. Metrics are needed, however, to identify their respective contribution to the global net zero objectives and compare solutions. One such measure is avoided emissions, sometimes referred to as “scope 4”. Unlike induced emissions that benefit from strong methodological bases, avoided emissions are calculated in a variable manner by different companies, which jeopardizes their credibility and prevents their use at scale. This was recognized recently by the G7 who called for the private sector to work together to develop an international standard.

That is why today, a group of financial institutions, spearheaded by Mirova and Robeco, come together through a call for expressions of interest to enable:

The new datasets should be based on the following principles:

”Responses to the call for expression of interest are expected to be put forward by the 16^th of July 2023. Academic institutions, consultants, and data providers are all welcome.