GoClimate's CO2 Transparency page
What is this?
As the name suggests, CO2 Transparency is about making it possible for companies to show their climate impact in a clear and transparent way. In other words, shifting the focus to what is actually being done to avoid any misleading claims or greenwashing. We believe that transparency is one of the most powerful ways to drive climate action in society and in businesses. Companies that are open and honest about their emissions are motivated to take more action, while simultaneously serving as inspiration for others.
How does it work?
GoClimate business partners that calculate their carbon footprint and are ready to share their emissions publicly, are eligible for a CO2 Transparency page. The bespoke visual link and QR code leads to a public-facing page (hosted by GoClimate), where the climate work of the company is displayed. This includes an outline of their greenhouse gas emissions, and what they are doing to reduce, prevent, or take further responsibility for them.
Do you want to get the transparency page for your company?
Do you want to explore getting a CO2 Transparency page for your company, or do you have any further inquiries? Please reach out to us at [email protected] for more information!
You might have noticed that the CO2 Transparency badge contains three small icons. We call them Climate Achievements, and they can be unlocked for companies that meet the requirements listed below.
Companies that have set emission reduction targets according to the following criteria are eligible for the target-setting achievement. These are based on the Science Based Target initiative (SBTi), but go beyond the minimum boundary for Scope 3 to align with the 1.5 degrees pathway.
- A near-term target within a 5 to 10 years time frame.
- The yearly reduction rate needs to be in line with the 1.5°C target of the Paris Agreement following the Science Based Targets (SBTi) methodology.
- The target should apply to Scope 1, 2 and 3.
- If a company is not including all applicable Scope 3 categories in their calculations, the ones included should be reasonably estimated to cover at least two thirds (67%) of applicable Scope 3 emissions.
- The base year for the target needs to include the same categories in calculations. For Scope 2, the target should be based on the market-based approach.
- If a company already has an exceedingly low level of emissions without a potential for reducing in line with the 1.5°C target, then the reduction rate can be set according to the “well below 2°C” target for all three scopes. The impracticality of reducing those emissions will be closely looked into by GoClimate and transparently communicated.
Companies that lower their carbon footprint pursuant to the specifications below may earn the reduction achievement.
- Between the start of calculations (the base year) and the second year of calculations, emissions should be reduced in line with the 1.5°C target. The rate depends on which base year is chosen. There is no minimum limit for categories included.
- If additional emission-causing activities are included in a subsequent year, companies need to select that year as a new base year. That is, from that point onwards the percentage of reductions will be estimated against the new base year (with increased inventory).
- However, for the first year of integration of more categories the reductions will be estimated taking into account only the former categories. That way the company can maintain the reduction achievement if it has reduced in line with required reduction rate.
- To allow for year-on-year variations companies can keep the reduction achievement for an additional year if: (1) their emissions rise by no more than 10% in comparison to the year in which the company achieved its largest emissions reduction since the base year; and, (2) the total emissions of the last calculation stay within 80%-100% of the total reduction achieved since the base year.
Financing climate projects
Companies that support initiatives leading to a verified and measured reduction of emissions (carbon credits) may unlock the achievement if they fulfill the following requirements:
- Projects need to be Gold Standard certified and traced in their registry.
- Carbon credits should correspond to at least 100% of the calculated carbon footprint for any given year.