In order to account for attributed and avoided emissions, PIDG utilises The Global GHG Accounting and Reporting Standard for the Financial Industry from the Partnership for Carbon Accounting Financials (PCAF)
of which PIDG is a member. To calculate the emissions from our projects, we use the fuels (Scope 1) and electricity (Scope 2) usage reported in the monthly Health, Safety, Environmental and Social reports from projects under construction and those which are operational. These are then converted into tonnes of CO2
When undertaking these conversions, it is important to note that emissions factors for fuels can vary slightly depending on the different specifications for the fuel and testing methods. As the majority of the PIDG companies are UK-based, we use the conversion factors published by the UK government[ii]
to calculate these. For emissions from the generation, transmission and distribution of electricity, we use the harmonised default grid factors provided by the United Nations Framework Convention on Climate Change (UNFCCC)
for standardised reporting by international finance organisations (as recommended by the Partnership for Carbon Accounting Financials).
By using these standardised conversion factors, we can compare the emissions data we generate from one year to the next and can draw conclusions across the PIDG portfolio regardless of the different geographies in which we operate.